Basics of Estate and Trust Administration

Administering a decedent’s estate involves numerous responsibilities, statutes and risks. The methods for distributing assets on death are varied, including such alternatives as joint ownership, contracts, trusts, Wills and intestacy. Allowances and elective shares must be honored when chosen. The Michigan statutes impose many notice, record keeping, investment and distribution duties on fiduciaries handling an estate or trust.  Violations can be subject to severe penalties. The Basics of Estate and Trust Administration were reviewed during the recent seminar presented by members of Couzens Lansky entitled “2016 Critical Legal Developments”. Contact one of the Firm’s estate planning and administration attorneys at 248-489-8600 to discuss your particular circumstances. Click Full Article below for a short version of the material that was presented.

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