Estate and Trust Administration Services
Last Updated on August 24, 2022 by Paul Dunn
Following is a list of the primary estate and trust administration services provided by Arizona Estate and Trust Law, PLC in administering probate estates or trusts following an individual’s death:
- Advising the client of their administrative responsibilities in serving as the personal representative of a decedent’s probate estate or as the trustee of the successor trust or trusts created by the decedent’s trust agreement.
- Helping the client assemble and classify all of the decedent’s various assets and valuing them for tax purposes.
- Helping the client collect all proceeds payable to the estate, the trust, or the beneficiaries from all possible sources.
- Establishing and funding an interim “administrative trust” for the post-death administration of a decedent’s revocable living trust document.
- Establishing and funding the post-death trust or trusts specified in the decedent’s revocable living trust document.
- Obtaining taxpayer identification numbers (TINs) from the Internal Revenue Service for probate estates or trusts that are separate tax-paying entities as a result of the decedent’s death.
- Working with the client’s other professional advisors to document the values of the decedent’s assets for tax and distribution purposes.
- Preparing and filing any estate tax returns required by the decedent’s death.
- Advising the client on their options (and the advantages and disadvantages associated with each option) in transferring the decedent’s assets to the beneficiaries.
- Transferring the ultimate legal ownership of all assets owned by the decedent to the designated beneficiaries.
- Updating a surviving spouse’s personal estate plan documents to reflect the decedent’s death.