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192 Nassau Street, Princeton, New Jersey 08542
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New Jersey Attorneys assist with the probate process

At Haveson and Otis, we help clients with trust and estate administration. If you’re named as a trustee or if you’re appointed as the executor of an estate, you might not know where to start. It’s normal to have lots of questions about trust and estate administration. We provide expert guidance in estate administration so that our clients can successfully meet their obligations in an efficient and hassle-free manner.

Administration of trusts

A trust is an arrangement that allows a person or a group of people to control assets for the benefit of someone else. There are many reasons that a person might want to create a trust. A trust can have a positive effect on estate tax obligations as well as reduce the time that it takes for beneficiaries to gain access to the assets in the trust. In addition, trusts are common in cases where children or adults have special needs.

If you’re responsible for trust and estate administration, it’s important to pay attention to detail. You need to comply with the grantor’s wishes, and the process can be confusing. Our office helps clients with a variety of trusts and trust-related issues, including:

  • Credit shelter trusts (CST) – Helps clients and their spouses take full advantage of federal estate tax exemptions.
  • Incentive trusts – Rewards a beneficiary for achieving a goal, like graduating from college.
  • Living trusts – Assets are placed in a trust during a person’s lifetime. These assets are available to beneficiaries earlier than they may be using a will. It also provides privacy from public records.
  • Generation-skipping trusts – Transfers assets to future generations and avoids taxes.
  • QTIP trusts – Provides for a surviving spouse while maintaining control over distribution.
  • Charitable remainder trusts – Provides for a beneficiary as well as a charity.
  • Irrevocable life insurance trusts – The trust owns and benefits from at least one life insurance policy.

Meticulous administrative services

Our attorneys have the comprehensive experience of all the duties and responsibilities required to be a trust administrator, including:

  • Investment of assets
  • Management of assets
  • Preparation of accountings
  • Preparation of tax returns
  • Distributions to beneficiaries

Administrative services must be performed meticulously in order to comply with fiduciary duties. If it’s your job to administer a trust, we can help. We have years of experience in all aspects related to trust administration. We can help you make sound decisions regarding investment of assets as well as help you process the related paperwork. Assets require sound and detailed management, and we assist clients with accounting and preparation of tax returns.

Trust and estate administration is precarious. You can be held liable if you make a mistake that causes the trust to lose profits. We help you make wise decisions that ensure your total compliance with all applicable laws and regulations. If you are a trustee, we can give you expert guidance based on our years of experience.

Administration of estates

If you need to administer a will or estate, we can guide you through the process step by step. You need to submit the will to the appropriate probate court in New Jersey. We can help you file the will and create a plan to quickly and fairly administer the estate. We can help you open and close accounts, pay taxes and locate beneficiaries.

Contact us today

Estate administration and trust management can be tedious. We work with a team of accountants, real estate professionals and financial experts to make the process as smooth as possible. If you have an estate or trust, we invite you to contact us. We have clients in Princeton and throughout the entire State of New Jersey. Contact us today at 609-921-0090 or online to schedule a free trust and estate administration consultation.

We serve clients in Princeton and throughout New Jersey. Call us at 609-921-0090 or contact us online to schedule a consultation.