Trust Administration
Trust administration is the process of gathering, managing, and distributing the assets held in a Living Trust according to the wishes and instructions of the person or people who created it. During what can be an emotional and challenging time, a well-prepared trust can help make things a little easier for the loved ones left behind. Unlike probate, trust administration is generally handled privately, without the need for court supervision or the delays and formalities that can come with the probate process.
We understand that serving as a Successor Trustee can feel like a big responsibility, especially while navigating the loss of a loved one. Our goal is to help you feel supported, informed, and confident as you move through the process. We begin with a review session to walk you through your responsibilities, answer your questions, and discuss how much guidance and assistance you would like from us. Whether you prefer step-by-step instructions so you can handle things on your own or would feel more comfortable having us work alongside you throughout the process, we will tailor our support to your needs. You don’t have to navigate this responsibility alone—we are here to help make the process as clear, manageable, and stress-free as possible.
Administering a trust comes with important responsibilities. Understanding the process can help you feel more prepared, make informed decisions, and move forward with confidence.
Get organized and understand your responsibilities
Before you can administer a trust, you need to understand what it says, what it owns, and what is expected of you as successor trustee.
- Review the trust document and understand its terms.
- Identify beneficiaries and their interests.
- Identify trust assets, accounts, and property.
- Notify beneficiaries and provide trust documents and an inventory based on the trust and Michigan law.
Manage your responsibilities along the way
Trust administration involves more than gathering paperwork. There are ongoing responsibilities to handle before assets can be distributed.
- Manage trust assets.
- Take care of final expenses, debts, and any tax matters.
- Maintain records and provide accountings to the beneficiaries.
- Communicate with the beneficiaries as required by the trust and Michigan law.
Make distributions and complete administration
Once the necessary requirements have been addressed, the next step is determining how the trust assets should be distributed or continued in trust under its terms.
- Determine if and when distributions are appropriate.
- Liquidate assets or determine if assets will be distributed in kind to the beneficiaries.
- Transfer trust assets to the beneficiaries as directed by the trust.
- Complete all final accounting requirements and remaining administrative requirements.