Trust Administration Attorney Serving Chandler & Phoenix

It is important to understand that, as trustee, you will not personally own the trust assets. A trustee has a duty to safeguard trust assets for both the current beneficiaries and secondary beneficiaries. Secondary beneficiaries are those who will receive assets after the current beneficiaries die. Trustees are entitled to reasonable compensation for their service and can hire professionals, such as probate and estate lawyers and tax professionals, to assist them with their duties under the trust.

If you need help with the estate administration for a loved one, then our legal team is ready to help. When working with our law firm, you will have an experienced legal team who have over 80+ years of combined probate and estate planning experience. Our team takes pride in taking the stress off of your shoulders and putting it on ours. We offer free consultations to help you determine what your next steps need to be.

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The Trustee’s Responsibilities In Arizona

A trustee has significant fiduciary duties and you will be held to a very high standard of care in administering the trust if you accept the appointment. A trustee also risks possible exposure to personal liability. The duties of a trustee are:

  • Read the trust document carefully, both when you first become the trustee and any time after that point should you have questions about your duties.
  • Follow the directions set forth in the trust document.
  • Keep all trust bank accounts and investments separate and avoid mixing trust assets with your own.
  • If applicable, invest trust assets in a prudent manner that is calculated to result in reasonable growth and/or return with minimum risk, avoiding risky or speculative investments.
  • Maintain clear and accurate records of the trust administration.
  • Account to the trust beneficiaries as provided by law and in the trust.
  • File tax returns and pay any taxes that are due.
  • Treat all beneficiaries the same and avoid favoring one over another unless the trust authorizes you to do so.
  • Avoid using the trust assets for your own benefit, unless the trust authorizes you, as the trustee, to do so.

There are other responsibilities and duties that fall to the trustee. If you have agreed to act as a trustee, our legal team can guide you through the administration process. We offer free consultations to help you understand what your next steps need to be. 

The Trust Beneficiaries Role In Arizona

Trust beneficiaries are the persons and/or organizations named in the trust to receive the trust assets after the grantor dies. Trust beneficiaries have certain rights, the scope of which depends on the trust and the type of beneficiary you are. Beneficiaries have a right to make sure the trustee is acting properly and that he or she is properly carrying out the terms of the trust.

To the extent provided for in the trust, beneficiaries have the right to:

  • Receive distributions provided for in the trust.
  • Be informed about the administration of the trust and of the material facts necessary to protect their interests.
  • Receive an annual accounting from the trustee or waive an accounting.
  • Receive a final accounting prior to distribution.
  • Ask the court to remove a trustee they believe is not acting in their best interests.
  • Ask the court to end the trust, in some instances, if the purpose of the trust has been fulfilled or is impossible and all current and remainder beneficiaries agree.
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Contact An Experienced Trust Administration Attorney

At the Golden Rule Law Group®, our team is dedicated to helping and representing you. You will have an experienced legal team who have over 80+ years of combined probate and estate planning experience. Our team takes pride in taking the stress off of your shoulders and putting it on ours.

Our firm primarily serves the areas of Chandler, Gilbert, Phoenix and other areas around Maricopa County. If you are in need of an experienced probate attorney in Arizona, please contact us today to schedule your free case evaluation.

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Legal Disclaimer

The information you obtain at this site is not, nor is it intended to be, legal advice. The Golden Rule Law Group® · Decker & Woods, PC's legal team is licensed to practice law in Arizona. We invite you to contact us, but please be aware that contacting us does not establish an attorney-client relationship. Please do not send any confidential information to us until an attorney-client relationship has been established.

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