Trust Administration is the transfer of assets in a trust to the beneficiaries of a trust. Typically this is done at a triggering event, such as the Grantor’s death. Trust Administration does not involve the Court (unless there is a dispute among the beneficiaries or trustee). The advantages of Trust Administration are that the estate is usually settled much quicker and cheaper, and since the Trust Administration does not have to use the Court system, and is not a part of the public record, the beneficiaries, trustee, and grantor retain privacy.
At Jones & Hitt, we will guide the Trustee through the trust administration process and provide the level of support that the Trustee needs. Each trust administration is different and requires different guidance through the process.