Dubuque Trust Administration

Providing Knowledgeable Guidance to Families in Dubuque

When a loved one passes away, their assets must be properly distributed to their beneficiaries. If the individual had a trust in place, the trust administration process is used to transfer assets to beneficiaries. Estate planning and trust administration can be complex, which is why it is important to have a knowledgeable attorney on your side. At Pearson Bollman Law, our Dubuque trust administration attorneys are dedicated to helping clients navigate the process.

For comprehensive guidance in Dubuque, contact us today at (515) 298-8850.

What Is Trust Administration?

When a person passes away, their estate must go through the probate process. This is a court-supervised process that can be time-consuming and expensive. Many people opt to create a trust to avoid the probate process. With a proper trust in place, the decedent’s assets can be transferred to their beneficiaries without going through probate. However, the trust administration process must still be followed.

The trust administration process typically includes the following steps:

• Locating the decedent’s trust documents
• Creating an inventory of assets
• Appraising assets
• Notifying creditors
• Filing tax returns
• Transferring assets to beneficiaries

The complexity of the trust administration process can vary depending on the size of the estate and the specific trust that was created. If you are the trustee of a trust, our Dubuque trust administration lawyers can help you understand your responsibilities and guide you through the process.

How Long Does Trust Administration Take?

Trust administration can typically be completed in a few months, as long as there are no disputes or complications. If there are issues with the trust or with the trust administration process, it can take much longer. For example, if an asset is not properly titled in the name of the trust, it may need to go through the probate process. This can significantly delay the trust administration process.

What If There Is No Will or Trust?

If there wasn't a will or a trust in place, their assets will go through the probate process and will be distributed to their heirs according to state law. This is why it is so important to have an estate plan in place. With a proper estate plan, you can ensure your assets are distributed to the people you choose and that your loved ones are protected.

Compassionate & Personalized Service

At Pearson Bollman Law, we understand that the trust administration process can be difficult for families, especially when they are already dealing with the loss of a loved one. Our Dubuque trust administration lawyers offer compassionate and personalized service to clients. We can help you understand your responsibilities as the trustee of a trust and ensure that you are fulfilling your fiduciary duties.

For trusted counsel during the trust administration process, call our Dubuque trust administration lawyers at (515) 298-8850 or contact us online today.