Experienced New Mexico Attorney Assists Clients with Trust Administration
Reliable estate lawyer advises trustees in the Albuquerque area
At the Law Office of Mike Gallegos, I advise clients in the Albuquerque area and throughout New Mexico on how to comply with all aspects of trust administration accurately and completely. Trustees can benefit from sound legal guidance so they are not held personally liable for losses in the value of estate assets due to errors or misconduct. In addition, for individuals who want an experienced third party to oversee their trust, I can assume administration duties as trustee. I guide individuals through trust administration with confidence and efficiency.
Reputable lawyer counsels trust fiduciaries
Once a grantor establishes a trust, either they or a reliable fiduciary must act as trustee. The trustee is responsible for seeing to the completion of necessary tasks according to state laws and the terms of the trust. At the Law Office of Mike Gallegos, I provide advice to trustees so they can capably manage duties related to trust administration, including:
- Communication with beneficiaries
- Investment of assets
- Management of assets, including real property
- Collection from debtors and payment of creditors
- Preparation of accountings
- Preparation of tax returns
- Distributions to beneficiaries
Trust administration requires careful attention to each detail of the grantor’s wishes. I support trustees during every step of their administration efforts and help them avoid missteps.
Knowledgeable counselor handles a wide variety of trusts
There are many different types of trusts, each with its own rules and regulations. I am well-versed in matters related to both common and less frequently encountered trusts, including:
- Credit shelter trusts (CST)
- Incentive trusts
- Living trusts
- Generation-skipping trusts
- Qualified Terminable Interest Property (QTIP) trusts
- Qualified Personal Residence Trusts (QPRT)
- Charitable remainder trusts
- Irrevocable life insurance trusts
If you have been named a trustee, an experienced attorney can be a trustworthy source of advice. At the Law Office of Mike Gallegos, I work to maintain the fiscal strength of trusts so that they serve beneficiaries through their intended lifetime.
Contact a reliable New Mexico trust administration lawyer
The trust administration process can feel overwhelming for individuals unfamiliar with estate law. My goal is to help ease the burden for clients in New Mexico. To schedule a free consultation with the Law Office of Mike Gallegos, call my Albuquerque office at 505-859-7425 or contact me online.