Texas Trustee Representation Services
Supporting your legacy for generations to come
With careful planning and management, trusts are one of the most reliable options to ensure your beneficiaries receive needed financial support after you pass away.
Due to their complex nature, these estate arrangements often require knowledgeable legal representation by a skilled Texas elder law attorney.
At the law firm of Shann M. Chaudhry Esq., Attorney at Law PLLC, we provide dedicated trustee advisory and estate planning services to manage your trust effectively. With extensive experience in helping clients make informed estate management decisions, we aim to maximize your trust’s benefit to your loved ones.
You deserve the peace of mind that comes with knowing your best interests in estate matters such as wealth planning, investment management, and trust administration are in good hands. Our law firm provides Texas families, individuals, and businesses comprehensive financial planning opportunities for their estates.
Our skilled estate planning attorneys do not serve as trustees. We do provide trust protector services.
What does a trustee do?
When a trust is established as part of an estate plan, the trustmaker (aka grantor or trustor) designates someone to manage their trust(s) and carry out their wishes after they pass on. This person is known as the trustee.
A trustee is granted a range of powers and responsibilities set forth in the document, and that may vary from state to state.
Generally speaking, a trustee is tasked with following the instructions laid out in the trust and managing and distributing the assets or proceeds of the trust to the benefit of the beneficiary. This may require long-term or generational management of assets.
A trustee has a legal duty to both the trustmaker and the beneficiaries (current, successor, and contingent), known as the fiduciary duty. All decisions that the trustee makes must serve the interests of the beneficiaries.
If a trustee does not abide by the rules of the trust or their fiduciary duties, or if the trust is poorly managed or the trustee abuses their power, they may be subject to substantial liability and could be the target of litigation from the beneficiaries.
Why work with a Texas elder law and estate planning attorney?
Designating a trustee can be a complex decision, especially when you’re considering the needs of your family and loved ones. What’s more, estate administration involves more than selecting a trustee or deciding how much financial support you’ll leave for family members.
It’s also about knowing what type of trust to use, how to handle real estate planning, the scope of fiduciary responsibilities, and more. At the law firm of Shann M. Chaudhry Esq., Attorney at Law, PLLC, we aim to clarify your legal options to help you make the most informed decisions for your trust.
Designating a trustee can be a complex decision, especially when you’re considering the needs of your family and loved ones. What’s more, estate administration involves more than selecting a trustee or deciding how much financial support you’ll leave for family members.
It’s also about knowing what type of trust to use, how to handle real estate planning, the scope of fiduciary responsibilities, and more. At the law firm of Shann M. Chaudhry Esq., Attorney at Law, PLLC, we aim to clarify your legal options to help you make the most informed decisions for your trust.
As your Texas elder law attorney, our practice regularly assists estate representatives with a variety of trustee support services, including:
- Initiating the trust administration process
- Helping notify your beneficiaries, heirs, and other interested parties’ heirs
- Representing the trustee or estate in disputes that might arise
- Helping locate professionals to file any final tax returns on the trust’s behalf
- Working with the trustee to marshall the assets of the trust
- Coordinating with qualified appraisers to inventory your assets
- Referring and coordinating with a corporate trustee and assigning a trust officer if necessary
- Potentially serving as trust protector to appoint a trustee if you don’t have someone appropriate for this role (subject to the contents of a trust agreement)
- Assisting in the trust administration process
Personalized Trustee Services in Texas
There are many situations where a knowledgeable attorney can help provide guidance to a trustee, including assisting with the administration of any of the following trusts:
- Charitable Remainder Trust
- Charitable Lead Trust
- Special Needs Trust
- Medicaid Asset Protection Trust
- Irrevocable Insurance Trust
- Revocable Living Trust
- Administrative Trust (Post Death Revocable Living Trust)
- Dynasty Trust
- Domestic Asset Protection Trust
There are many situations where a knowledgeable attorney can help provide guidance to a trustee, including assisting with the administration of any of the following trusts:
- Charitable Remainder Trust
- Charitable Lead Trust
- Special Needs Trust
- Medicaid Asset Protection Trust
- Irrevocable Insurance Trust
- Revocable Living Trust
- Administrative Trust (Post Death Revocable Living Trust)
- Dynasty Trust
- Domestic Asset Protection Trust
At Shann M. Chaudhry Esq., Attorney at Law PLLC, our estate planning attorneys apply a wealth of experience as leading trustee advisors as we serve clients in several capacities, such as providing legally required representation throughout the trust administration and probate process and representing trustees in fiduciary matters requiring litigation.
Whether you need our assistance acting as a trustee, successor, or co-trustee, we have the legal experience and knowledge of Texas estate planning and elder law to help you find a personalized solution.
Our diligent legal team can help you avoid potential conflicts of interest when administering your trust.
One of the most important aspects of creating a trust is ensuring it accomplishes your financial goal. Contact our Texas Estate Planning and Elder Law attorneys today to learn more about our trustee and administration services.
Start the process of planning your trust administration as early as possible. Consult with a reputable Texas estate planning or elder law attorney to evaluate where your estate stands and ready it for the future.
Discover how our trustee services can help you better oversee and manage your trust. Contact us to get started today.
One of the most important aspects of creating a trust is ensuring it accomplishes your financial goal. Contact our Texas Estate Planning and Elder Law attorneys today to learn more about our trustee and administration services.
Start the process of planning your trust administration as early as possible. Consult with a reputable Texas estate planning or elder law attorney to evaluate where your estate stands and ready it for the future.
Discover how our trustee services can help you better oversee and manage your trust. Contact us to get started today.
San Antonio Texas Trustee Services FAQs
Why is the role of a trustee so important?
Choosing who will act as trustee and oversee the administration of your trust is a major decision that will have significant impacts on your loved ones later in life. The individual acting in this role will have an enormous responsibility to uphold your wishes. In many cases, serving as a trustee will require the assistance of someone with experience in Texas trust law. You can’t do it by yourself.
Is it required to have an attorney act as a trustee in Texas?
No. However, Texas law currently requires a trustee to hire legal representation in estate matters, and specifically gives a trustee that power in Texas Property Code Sec. 113.018.
A trustee should be a person (potentially not subordinate or related to you per IRC 672(c)) that you trust implicitly with your assets. They should serve with bond or security, to provide insurance to your beneficiaries that they won’t abscond with the assets. It’s generally recommended in most long-term trusts to work with a corporate trustee. The corporate trustee can serve alongside an individual.
How much do trustee services cost in Texas?
The cost for trustee representation can vary widely in Texas, which is why you should first consult with a reputable elder law attorney about your estate and trust needs. This allows you to get detailed information about pricing and the level of experience a firm has in this area of legal practice. Typically, these services are billed hourly.
Additionally, those who act as trustees are entitled to compensation, but if you fail to state what fees they should receive in your trust paperwork, the Courts may make that determination. This could be a percentage of your assets or transactions related to your estate.