Estate & Trust Administration is the carrying out by the executor the activities set forth in the estate documents and trust.
Estate administration is occurs after a person dies, the estate needs to be collected and managed. This includes the gathering of assets of the estate, paying the decedent’s debts, and distributing the remaining assets.
Trust administration refers to the trustees’ management of trust property according to the trust document’s terms and for the benefit of the beneficiaries after the settlor’s death. Many steps are required to safeguard effective administration. It is recommended to work with an attorney to help facilitate the process for the trustees throughout the process.