LEGAL EXPERTISE - TRUST ADMINISTRATION
Mr. Scott G. Morrison is also experienced in assisting clients through the estate administration process. Upon an individual's passing, assets typically need to be transferred to heirs or beneficiaries, final income tax and/or estate tax returns filed and other matters reported to appropriate governmental agencies. Even though a client may have a well-drafted estate planning portfolio, the client's successor (such as a trustee or executor) will need legal assistance to implement the instructions set forth in the estate plan and comply with related legal duties.
In a trust administration process, Mr. Morrison advises the client who is serving as a successor trustee as to their legal duties and assists them in fulfilling the duties. Mr. Morrison can assist the successor trustee in the management, liquidation and distribution of assets as specified in the estate planning documents and assure that during this process applicable laws, both state and Federal, are being followed.
For example, we can assist a successor trustee in preparing asset reports and accountings for approval by beneficiaries prior to distribution, protecting assets during the administration process, resolving creditor claims and preparing estate and income tax returns required for the descendant's final tax return filings.
