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Trust Administration

Glen Allen Trust Administration Attorneys Guide Successor Trustees

Virginia lawyers provide legal services to clients managing trusts

Once a grantor establishes a trust, either he or a trustworthy fiduciary must act as trustee for the trust assets. When the grantor dies, a trustee named in the trust documents must act as administrator, seeing to necessary tasks according to state law and the terms of the trust. Trust administration requires careful attention to each detail of the grantor’s wishes, as well as sound legal advice to avoid missteps for which a trustee can be held personally liable. Attorneys at DeFazio Bal Law Firm act as administrators and provide reliable legal guidance to trust administrators. We have ample experience in both roles on a wide variety of trusts, including:

  • Credit Shelter Trusts (CST)
  • Incentive trusts
  • Living trusts
  • Generation-skipping trusts
  • Qualified Terminable Interest Property (QTIP) trusts
  • Qualified Personal Residence Trust (QPRT )
  • Charitable remainder trusts
  • Irrevocable life insurance trusts

The attorneys at DeFazio Bal Law Firm provide highly ethical and reliable administration services to a variety of trusts, maintaining the fiscal strength of these entities to serve beneficiaries through the intended life of the trust.

Meticulous administrative services

Our attorneys have provided advice to administrators and capably managed all duties related to trust administration, including:

  • Communication with beneficiaries
  • Investment of assets
  • Management of assets, including real property
  • Collection from debtors and payment of creditors
  • Preparation of accountings
  • Preparation of tax returns
  • Distributions to beneficiaries

In the exercise of these duties, we proceed in good faith according to state law and the grantor’s desires as expressed in the trust’s documents.

Sound advice to trustees

A trustee can be personally liable for mistakes or omissions that result in losses for the trust. We offer sound advice to trustees to ensure accurate and complete compliance with all aspects of trust administration. If you have been named a trustee, we strongly recommend that you retain professional assistance from a trustworthy source.

Contact a reliable source for trust administration legal services.

To schedule a consultation with DeFazio Bal Law Firm, call our Glen Allen, Virginia office at 804-729-0136 or contact our firm online.

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Our Offices
  • Glen Allen Office
    4050 Innslake Dr.
    Suite 190
    Glen Allen, Virginia 23060
    Phone: 804-250-3729
  • Midlothian Office
    1 Park W. Cir.
    Suite 201
    Midlothian, Virginia 23114
    Phone: 804-250-3729