Probate: If you have been named executor (in some states known as a personal representative) of a will, or wish to serve as the administrator of an estate where there is no will, you have many fiduciary duties of which you may not be aware. Laboe & Tasker represents clients throughout the probate estate administration process. We help clients through what can initially seem like a daunting legal and financial process in probate court.
The executor/administrator is responsible for actions such as:
- Gathering documents
- Petitioning the probate court to serve as executor and filing the will
- Notifying heirs and beneficiaries
- Valuation of property and assets
- Establishing an estate Tax Identification Number (TIN) and opening estate bank account
- Paying the estate’s debts
- Preparing federal and state estate and income tax returns
- Preparing and filing decedent’s final income tax return
- Distributing assets according to will or statute
If you have been named as executor of a will, or wish to administer an estate where there is no will, contact us to learn how we can help.
Trust: Laboe & Tasker, PLLC can assist you with carrying out your fiduciary duties as trustee of a trust or understanding your rights as beneficiary of a trust. . The trustee is tasked with properly managing trust assets, for the ultimate benefit of the beneficiaries. Laboe & Tasker works with the trustee to develop a plan to minimize the risks of liability while maximizing the distributions to the beneficiaries. The responsibilities of the trustee are similar to those of the executor of a probate estate, including:
- Notifying beneficiaries of their rights
- Valuation of property and assets
- Establishing a trust Tax Identification Number (TIN) and opening trust bank account
- Paying the debts and obligations of the trust and/or decedent
- Preparing and filing trust estate and income tax returns
- Preparing and filing decedent’s final income tax return
- Distributing assets according to terms of the trust
We help corporate and individual trustees find the right solutions across a range of trust administration problems including:
- Interpretation of trust terms and trustee responsibilities
- Mediating family conflict related to trust administration
Private settlement agreements to keep disputes with or between beneficiaries out of court - Declaratory judgment actions to clarify or define the trustee’s responsibilities on disputed issues
- Seeking judicial intervention for unresolved conflict amongst beneficiaries or with trustee