Understand how our lawyers can assist with trust administration
Trust administration involves an agreement between the Grantor, the maker of the Trust, and the Trustee, the administrator of the Trust, about how Trust property is to be managed and provided to beneficiaries. A Trustee must understand and comply with the terms of the Trust and the Ohio Trust. The Ohio Trust Code sets forth requirements of a Trustee in regard to keeping beneficiaries informed, safeguarding trust property, investing Trust Assets, and the conduct of a Trustee. Lack of counsel can result in potential lawsuits for a Trustee who fails to comply with the Trust Agreement or violates the Ohio Trust Code. Similarly, beneficiaries without counsel can be harmed by being denied information and benefits they are entitled to under the Trust. Whether you are a Trustee or Beneficiary, lack of knowledge of your responsibilities or rights can be costly.
Call one of our trust lawyers for more information
The Perla Law Firm has experience assisting Trustees and Beneficiaries in Trust Administration. Contact our Cleveland attorneys today to discuss Trust Administration and other probate matters.