New Address: Chisholm Law Group, LLC – 4550 Montgomery Avenue – Suite 900N – Bethesda – Maryland 20814

Chisholm Law Group, LLC

Schedule Your Consultation: 844-991-1392

Chisholm Law Group, LLC
Schedule Your Consultation
Our Attorneys Protect Our Clients’ Finances And Assets Throughout Their Estate Planning And Tax Law Issues

Make Trusts Easier with Experienced Legal Guidance for Living Trust Administration

Living trusts are an effective way to manage assets and ensure they are passed on according to a person’s wishes. However, when the person who established the trust becomes disabled or passes away, administering the trust can be challenging. At Chisholm Law Group, LLC, our attorneys guide trustees through this complex process and help them carry out their duties.

Living Trusts Are Underused—but Essential

Only 11% of Americans have a living trust.

Not having a living trust can expose families to lengthy and costly probate processes. A living trust helps avoid probate, ensuring that assets are distributed quickly and according to your wishes, and provides additional privacy protection for your family.

Source: Trust & Will. (2025, February 25). 2025 Estate Planning Report Press Release. Retrieved April 30, 2025, from https://trustandwill.com/learn/2025-report-press-release

If you’re new to the role of trustee, you may be unsure where to start—or you may simply need support with complex trust matters. Whatever your situation, we’re here to help. From ongoing trust management to final distribution, our team is here to provide clarity and direction.

The Basics Of A Living Trust

A living trust is a legal document that holds and protects your assets while you’re alive, then provides instructions for the administration and distribution of your assets after you’re gone. It helps avoid probate, reduces legal costs, and gives your family faster access to what you leave behind. However, creating a living trust is only the first step. To make it work, you have to fund it.

To fund a trust, you need to transfer ownership of your assets to the trust. This involves retitling assets like bank accounts and property, changing beneficiaries on life insurance and retirement accounts and creating a list of personal items owned by the trust.

While you are alive, you typically manage the trust as its trustee. If you become incapacitated, your chosen successor trustee takes over. After you die, the successor trustee administers the living trust and distributes your assets according to your instructions, usually without court involvement.

We Help Trustees Fulfill Their Duties

Being a trustee is an important role that comes with several key responsibilities. By working with an experienced legal team, we can help you navigate living trust administration, including:

  • Asset management: Trustees must manage the trust’s assets prudently, making sound investment decisions and maintaining accurate records.
  • Following the trust agreement’s instructions: It’s crucial to understand and follow the terms of the trust document, carrying out the grantor’s wishes as specified.
  • Distributing assets: Trustees are responsible for distributing trust assets to beneficiaries according to the trust’s terms.
  • Financial duties: This includes paying bills, taxes and any debts of the trust, as well as preparing any necessary tax returns.
  • Communication: Trustees should keep beneficiaries informed about trust activities and respond to reasonable requests for information.
  • Record keeping: Maintaining detailed records of all trust transactions is essential for transparency and potential audits.
  • Legal compliance: Trustees must ensure the trust operates in compliance with all applicable laws and regulations.
  • Seeking professional help: When necessary, trustees should seek advice from legal, financial or tax professionals to fulfill their duties properly.

Our team makes trust administration simple, even if you’ve never dealt with legal paperwork before. We will guide you through each responsibility and provide ongoing support as needed.

Talk To A Living Trust Administration Attorney Today

Whether you’re setting up a new trust or administering one after a loved one’s passing, Chisholm Law Group, LLC, is here to provide the guidance you need. You don’t have to face these important decisions alone.

Contact our Bethesda office today at 844-991-1392 or use our online contact form to book your confidential consultation.