2025 Fiduciary Best Practices in Trust and Estate Administration

Trust and estate administration can be complicated with a multitude of items to consider by executors and trustees such as tax issues, administrating the decedent's interests in businesses, and management and protection of assets. Fiduciaries must navigate complex rules and procedures in defending against or disputing claims in trust and estate administration.

In regards to trust administration, simple matters that relate to the trustee's duties and powers are often deceptively challenging. Trustee actions now face heightened scrutiny during these uncertain times. Counsel must consider the powers to direct and delegate, control and protect trust assets, and disclosure and notice requirements. Dividing trust assets, determining and disbursing fees and expenses, and distributing to beneficiaries must also be addressed.

The administration of an estate after an individual's death requires the fiduciary to address certain issues and follow specific procedures to distribute the decedent's assets. This process can involve complications stemming from the marshaling, valuation, sale, and distribution of assets, resulting in claims from beneficiaries and creditors. In addition, challenges involving the handling of jointly held assets and issues for unmarried couples add another layer of complexity that must be carefully managed.

Listen as our authoritative panel of trust and estate planning practitioners highlights key issues that arise in trust and estate administration and best practices for counsel, trustees, and executors.