ADMINISTRATION OF ESTATES & TRUSTS
If you are the Executor of a decedent’s Estate, you are responsible for navigating the estate from the date of appointment to the settlement of the estate. There are many issues that can arise during an estate administration, and at Underberg & Kessler, our attorneys guide the Executor through every step of the process. At Underberg & Kessler, lawyers and paralegals work together on estate and trust administration matters so that their skills and experience can be utilized to deliver the highest level of service to our clients. They work in conjunction with a decedent’s financial advisor, tax advisor and accountant in the administration of the estate. Whichever stage of the estate administration process is underway, our lawyers stand ready to step in and guide you throughout the entire process offering assistance and advice.
Estate & Trust Fiduciaries
Being an Executor of an Estate or the Trustee of a Trust can be a difficult job at times. It is important to be aware of the common issues that may have to be navigated through by the executor. Some of the common issues that may arise include but are not limited to:
Complex tax elections after death
Asset distribution priority
Our estate and trust administration lawyers are here to help you navigate these issues and offer guidance to help you navigate through important decisions and any issues that may arise.
The Executor of a decedent’s estate is the person responsible for gathering all a decedent’s assets at death, paying off debts as appropriate, and distributing assets per the decedent’s wishes. An Executor has a legal duty to act in the best interest of the beneficiaries of the decedent’s estate.
When choosing an Executor, it is important to be sure that the Executor:
Is available and willing to serve as the Executor;
Has the requisite background to handle the responsibilities of the appointment;
Is conscientious and able to adhere to the instructions in the decedent’s Will, even if he/she does not agree with them
The trustee of a Trust acts as the legal owner of trust assets, and is responsible for handling any of the assets held in trust, tax filings for the trust, and distributing the assets according to the terms of the trust.
When appointing a Trustee, it is important to be sure that the Trustee:
Is available and willing to serve as the Trustee;
Has the requisite background to handle the responsibilities of the appointment. Depending on the type of Trust, it may be prudent to appoint an attorney or financial institution
Depending on the type of trust being created, the trustee will be in charge of overseeing the trust creator’s assets and the assets of the trust creator’s loved ones, so it is imperative that the Trustee understand the dynamic of the trust creator’s family, is financially astute, is able to analyze investments, and understands the trust creator’s goals regarding the Trust.
Estate & Trust Administration Experience
Our Experience in Western, NY and Beyond
•Underberg & Kessler utilized the skill set and knowledge of both attorneys and paralegals in order to provide exceptional service to our clients.
•We guide and advise executors, administrators and trustees in the multitude of tasks they are required to handle during an estate administration, which frequently include complex tax elections and retitling of property.
•We have the experience necessary to assist fiduciaries in all aspects of estate and trust administration, including probating wills, filing tax returns, and settling estates.