If you need assistance managing the estate of a loved one who has passed away, turn to NW Legacy Law, an Oregon estate law firm trusted by families to protect what matters most. Our Portland, OR trust administration lawyer offers strategic guidance and ongoing support to beneficiaries. Whether you are seeking assistance in understanding your role as a trustee or would like impartial oversight on how the trust is being administered, our team can deliver a personalized solution to meet your goals.
Trust Administration Lawyer Portland, OR
The person who creates a trust is called a grantor. When the grantor passes away, the named trustee is in charge of managing all aspects of the trust. A trustee can be an individual, like a family member or an attorney, or an entity, like a bank. The grantor identifies the trustee as part of the trust instructions; however, in some cases, the trustee is also a beneficiary, creating a conflict of interest.
Beneficiaries are the individuals or entities who receive funds from the trust. For example, if your parents named you as the trustee, your other siblings may feel uncomfortable that you are making decisions about how assets in the trust are being used. They may question if you are acting in a way that benefits yourself more than them. An imbalance in power can lead to unnecessary family disputes or costly legal proceedings. Additionally, the trustee can be held personally liable if trust funds are mismanaged, putting you at financial risk if you unknowingly make a mistake.
To avoid these challenges, our Portland trust administration lawyer recommends scheduling a consultation. Even if you choose to remain as trustee, it is helpful to get all the instructions in the trust explained by a legal professional. We can also inform you of your responsibilities as trustee, pointing out areas of risk and outlining ways to mitigate them.
Why Experience Matters In Trust Administration
Unless you have a background in estate law, you likely don’t know the intricate tax and risk management strategies to administer a trust successfully. As trustee, you are accountable to beneficiaries and must remain compliant with all state and federal laws. This job is a big responsibility and shouldn’t be taken lightly. Engaging legal counsel not only protects your interests but can also ease the minds of heirs, knowing the trust is being managed by a legal team with decades of combined experience.
We are proud to be highly rated by individuals, families, and business owners throughout the state of Oregon. Our attorney is committed to making a difference in our clients’ lives, taking a personalized approach that sets our firm apart from other estate law practices:
- We communicate plainly, breaking down confusing legal jargon.
- Your goals are our goals. We take the time to truly understand your pain points, crafting tailored solutions that address your unique circumstances.
- We have a reputation for professional excellence. Founder Thomas Hackett has been named a Super Lawyers Rising Star, Best in Business for Law Firms, and more.
- Our confidential consultations give you an opportunity to get to our legal team and make sure our firm is the right fit.
At NW Legacy Law, we honor your legacy through comprehensive, intentional, and compassionate legal guidance. Our Portland trust administration lawyer will help you settle your loved one’s affairs with clarity and empathy. Get honest, practical legal guidance today by calling our office to schedule a case review.
