Trust Administration

Trust administration is the process of administering an estate held in a trust at the time of the decedent’s death. It is generally less costly and time-consuming than a formal probate administration. The steps of a trust administration are similar to those of a formal probate (i.e., identifying and marshaling assets, paying debts and expenses and distributing the estate to the specified beneficiaries), however in most cases it takes place wholly outside of the courts and is generally less expensive and time-consuming than a formal probate administration (one of the main advantages of setting up a lifetime trust).