Anne M. McKinney, P. C. – Areas of Practice - Trust and Estate Administration and Taxation

Trust and Estate Administration and Taxation

What are the benefits of estate administration?

A properly administered estate will allow you to:

Manage the administrative process with minimal effort
Understand the process and be in control
Settle and distribute the estate, efficiently, and quickly
Take advantage of all estate tax minimization techniques and elections
Minimize the cost of administration

But I have a will; isn’t that enough?

A will allows you to:

Name the individuals or charitable organizations to receive your assets when you pass away
Control the method of distribution whether outright or in trust
Nominate an executor to administer your estate in probate and to determine if such executor is to be bonded or not
Nominate a guardian for your minor children

Having a simple will is not always enough. Without proper planning, a simple will cannot minimize your tax liability or offer asset protection from your children’s creditors. In some cases, a will is not the best instrument; a revocable living trust is the best tool to use if you want to avoid probate.

Having a simple will is not sufficient estate planning; however, a properly drafted will that works in conjunction with other instruments will often allow you to achieve the objectives of a good estate plan

If you need assistance with the administration of an estate or a trust, we can help. We assist clients by providing trust and probate services, small estate distributions, special court petitions, trust division upon the death of a spouse, trust funding, and gift and death tax return preparation.

We provide support for:

Beneficiaries of estates and trusts
Executors and administrators
Trust management issues

Proper estate administration allows you to maintain the affairs and settlement of your estate as privately and efficiently as possible.