Estate planning is a crucial task that ensures your assets are distributed according to your wishes after your death. These days, however, there are a myriad of “DIY” estate planning options, especially online. While DIY estate planning might seem like a cost-effective and convenient solution, it carries significant risks. Here’s why you should think twice before attempting to handle your estate planning without professional assistance.
The Steps of Trust Administration
After the creator(s) of a trust have passed away, the designated successor trustee then takes on the crucial role of administrating that trust. Administering a trust involves several critical steps to ensure that the trustee manages the trust according to its terms and in the best interests of the beneficiaries. Understanding these steps can help trustees fulfill their duties effectively and avoid legal complications.
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