Practice Area Trust Administration

Our attorneys assist trustees with all aspects of trust administration, including preparation of principal and income accounting, preparation of fiduciary income tax returns, working effectively with trust beneficiaries, handling trust distributions, and trustee succession matters. We advise trustees with respect to their fiduciary duties under North Carolina law. We also assist trustees of charitable split-interest trusts (such as charitable remainder trusts and charitable lead trusts) with tax reporting requirements of such trusts.

We also work with trustees of irrevocable life insurance trusts to comply with their duties as trustee, including payment of insurance premiums and preparation of “Crummey” notices of withdrawal where appropriate. In connection with our Long-Term Care practice area, some of our attorneys serve as trustees of special needs trusts for disabled beneficiaries, providing expertise in the administration of such trusts.

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