Many executors, administrators or trustees find themselves in a tight spot when attempting to carry out the wishes of the deceased in a legal and proper manner. In most cases, the language of documents and requirements are not clearly stated, leaving them in a state of panicked confusion.
This is the perfect setting for mistakes to happen that could cause delays in distribution of property and cost more money than necessary. These mistakes include:
Failing to locate assets
Not properly informing beneficiaries of legal and tax matters related to inheritance
Failing to meet a clerk’s processing deadline
Not filing tax returns for the deceased
Incurring additional expenses through unnecessary actions
Incurring additional tax debt by not terminating sale agreements
There are many more ways to fail as a trust administrator. Gathering all of this information and executing it can be a time-consuming burden for you, especially if you don’t have complete information about assets or how to carry out your duty.
Improperly executing or mismanaging a trust could cost more than taxes within the estate. It could also put you at risk for being sued in civil court and take money out of your own pocket. If you’re unsure of how to proceed as a trust administrator, you may need to consider the help of a trust administration attorney in North Carolina to protect the trust and you from making costly errors.
PUT YOUR TRUST IN AN EXPERT PROBATE LAW ATTORNEY
Mismanagement of a trust can leave you, as the administrator, in a difficult position. If you’re worried you cannot properly execute your role, help is available. An attorney who understands North Carolina’s trust and probate law should be one of the first people you contact.
Thomas J. Neagle, of The Neagle Law Firm, has years of experience in helping clients across North Carolina carry out their duties in a legal, effective manner. He is board-certified in probate law, which makes him an expert in these matters.
Thomas can walk you through the process and help you uncover any assets that may be initially difficult to locate. He will educate you about the process and provide assistance where needed. If you don’t feel you can adequately carry out your duties, The Neagle Law Firm can assume your role. This provides you with peace of mind that the trust will be seen to by an expert with a depth of knowledge.
Don’t assume you know everything without consulting with an attorney like Thomas Neagle. The smallest error could come at the greatest cost to you and the beneficiaries who depend on you.
Trust Administration Attorney in Carrboro, NC
Acting as an executor or trustee for someone’s estate can be confusing. Don’t take on this burden without first seeking the help of a knowledgeable North Carolina trust administration attorney at The Neagle Law Firm in Carborro. Call or fill out the form on this website to set up an appoint to speak with board-certified attorney Thomas J. Neagle.