Estate and Trust Administration
Smith Legacy Law assists trustees, grantors / settlors, and beneficiaries through the ongoing trust administration process. This includes:
- Guiding fiduciaries through the process of administering complex estates and trusts from end to end.
- Petitioning for probate of wills or letters of administration.
- Developing and implementing “post-mortem” tax strategies, including qualified disclaimers, waiving fiduciary commissions and obtaining valuation discounts on estate assets.
- Drafting, reviewing, and filing required estate/gift tax returns and fiduciary income tax returns.
- Preparing fiduciary accountings and releases.
- Drafting fiduciary appointment and resignation documents and managing a smooth succession of fiduciaries.
- “Decanting” dysfunctional trusts into new trusts with desired terms.
- Terminating/unwinding trusts that are no longer advisable or economical.
- Structuring loans and other transactions between trusts and related parties.
- Representing fiduciaries in all contested matters, including estate and trust litigation, disputed fiduciary accountings, and federal and state tax audits and controversies.