Executor & Trustee

Services In Elkins, WV

Executor and Trustee Services for the Elkins, WV, Area

Wallace Law Offices LC Inc. will help you understand what is expected of you as an executor or trustee. We will work with you to manage the affairs smoothly and legally. The role of executor or trustee should not be taken lightly. It is important to pick an individual you trust, such as a relative or close friend who is over the age of 18. For the role of a trustee, you may elect a corporation, bank or lawyer. The person you choose must be legally competent and act with your best interests in mind. This person must be able to carry out your personal wishes such as financial matters, business transactions, and legal matters. Wallace Law Offices LC Inc. knows that being an executor or trustee is not an easy job. If you need advice or assistance as an executor or trustee, contact one of our lawyers at (304) 637-3800.

Elect an Executor to Handle the Affairs of Your Estate Today

An executor is chosen by a decedent during their lifetime to handle the administrative duties of their estate after they pass away. The executor you chose will accomplish tasks such as settling the estate, attending to legal matters, filing tax returns, and many more. Other responsibilities include managing expenses of the estate such as paying debts, expenses and collecting receivables, planning to cash liquidity needs, and have assets appraised if necessary. They will also handle to distribution of property and assets to beneficiaries.

Wallace Law Offices LC Inc. Can Assist in Appointing a Trustee

A trustee is elected by the drafter of a trust to administer the affairs. They are bound by law to take a high degree of care when managing property of another. A trustee acts as a legal owner of the trust assets, handles assets held in the trust, handles tax filings and distributes assets according to the terms in the trust. A trustee acts as the legal owner of the trusts assets, responsible for handling of any assets held in the trust, tax filings, distributing assets according to terms. Being a trustee is complex and time-consuming role. You may be personally liable for every action you make in the role. A trustee will make sure your assets are safe and under control. The trustee must understand the terms and must identify the beneficiaries. Administering the trust according to terms decisions that arise, preparing any records. The will prepare any records, statements, tax returns and communicate with beneficiaries.