Trust Administration Attorney in South Portland

1. Trust Administration Attorney in South Portland Trust Administration Lawyer When a loved one dies and has trust, the trust administration process needs to be undertaken. There are administrative duties and expenses involved in the trust administration that families and trustees need to know and understand. What is a Trust? Setting up a trust is one of the most commonly used estate planning tools. A trust involves a fiduciary relationship in which one party (the trustor or grantor), gives another party (the trustee), the right to hold title to assets for the benefit of a third party (the beneficiary). What is a Trustee? The person who distributes the decedent’s property is known as the “trustee”. A trustee can either be an individual, or a corporate entity (like a bank), named by the decedent in the trust documents. A trustee serves as the legal representative of an estate that will be distributed to beneficiaries through the trust. Contact Us Jackson Estate Planning Attorneys 238 Western Ave, South Portland, ME, 04106, United States mail@jackson-macnichol.com 207-360-8889 www.jacksonestateplanning.com