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A Trustee or Executor Have More Financial and Legal Liability Than They Might Realize

Have you been asked to be a trustee or executor?  A trustee or executor have more financial and legal liability than they might realize when they accepted the request.

As the trustee, successor trustee or executor of an estate or legal trust you carry extensive fiduciary and legal responsibilities that can extend to you personally if you are not in full compliance with federal and California law.

The experienced estate planning and tax attorneys at Allen Barron provide advice and counsel to an executor or trustee throughout all aspects of their responsibilities to ensure that all required tasks are executed in full accordance with federal, state and local law.  We work to ensure that you are protected from personal liability, and smoothly discharge all legal responsibilities associated with your position.

A trustee or executor may not be aware that the costs of their own legal representation are provided for out of the estate or trust they represent, and do not come out of their own pocket.

We will help to ensure that all legal and tax related obligations are executed in a complete and timely manner, while working to protect smooth internal communications with beneficiaries and interested parties such as creditors.  What steps are you required to take?  What is the “marshaling of all assets” and what tax returns are required for the estate or trust you represent?  What reports are due and when?  How extensive is the information you must provide to beneficiaries regarding the assets of the trust or estate and how they are to be administered?

A trustee or executor has extensive responsibilities and carries substantial legal and financial liability. If you are a trustee or executor we invite you to contact Allen Barron or call today for a free and substantial consultation at 866-631-3470.  Learn about the extensive responsibilities of your position, and the legal exposures you face.