Protect your estate planning goals with experienced and compassionate trustee services

A thoughtfully structured trust can help you or a loved one qualify for Medicaid, ensure that your special needs loved one has access to care and support, or provide valuable tax-planning benefits.

But administering trusts can be time-consuming, requiring insight and experience with legal and financial processes. Your family members may not have the time or resources to manage the trust you’ve created in the event that you pass away or become incapacitated.

Ensure that your trust serves its beneficiaries as you intend and avoid placing undue stress on your loved ones. The legal team at NJ Elder Law Center can serve as an experienced, compassionate trustee for your revocable, irrevocable, or special needs trust.

We can help you establish a trust that serves your estate planning goals and set your mind at ease knowing that the trust is in good hands. Contact us today to get started with a free consultation.

How Our Trustee Services Can Help You

When you set up trusts as part of your estate plan, you articulate your wishes for how your beneficiaries will receive trust assets in the event of your death or incapacitation.

But your beneficiaries don’t automatically receive the assets. A trustee is responsible for managing a trust and ensuring that it serves the best interests of its beneficiaries (those who receive or benefit from the assets in the trust) per the wishes of the trust’s creator, also known as the grantor.

Although this may seem like a simple goal, serving as a trustee involves careful financial planning, distribution of assets, filing taxes, recordkeeping, coordination with beneficiaries and care providers, and more.

Serving as a trustee can be a complex and overwhelming task for your loved ones. The team at New Jersey Elder Law Center can remove that burden by serving as experienced trustees.

At NJELC, we have the legal knowledge, experience, and resources to manage your trust and help you ensure it serves the needs of your beneficiaries. When serving as trustee, our attorneys and staff provide all of the following services:

  • Payment of bills and other distributions
  • Liaison with accountants, financial planners, and healthcare professionals
  • Collaboration with clients and beneficiaries on spending plans that balance payment for current needs and preservation of assets for
    anticipated future needs
  • Investment supervision
  • Supervision of tax return preparation
  • Annual meetings
  • Provision of annual accountings to the court

Our approach to trustee services

At New Jersey Elder Law Center, respect and empathy are central to everything we do. We will collaborate with you on creating a trust that serves your needs and the needs of those you love—and as trustees, we work diligently to ensure that your trust continues to serve the best interests of your beneficiaries.

Our Trustee Services

Trusts are flexible estate planning tools that can help you preserve your assets and provide for your loved ones in various ways. The team at NJELC provides trustee services for each of the following trusts.

Revocable living trusts

A popular estate planning strategy, revocable living trusts are most commonly used to avoid probate. Probate is a time-consuming, costly, and public process. Assets placed in a revocable living trust can be passed on to beneficiaries without going through probate first.

A revocable living trust can also allow you to make provisions for how your assets should be managed if you become incapacitated. Unlike an irrevocable trust, a revocable living trust can be changed at any time if you decide you want to alter your estate plan.

If you’re considering creating a revocable living trust, our experienced legal team can guide you through your options and help you create a plan for your assets—and for what will happen once the trust needs to be administered.

Irrevocable trusts

An irrevocable trust is less flexible than a living trust. As soon as your assets are placed in one of these trusts, your ownership of the assets passes to the trust. Under certain circumstances, you may still have access to trust assets through your trustees and lifetime beneficiaries. Depending on your needs, an irrevocable trust can provide a number of estate planning benefits.

Irrevocable trusts can be a valuable tool for reducing your estate taxes and/or preserving your eligibility for public benefits like Medicaid. The experienced legal team at NJELC can help you determine whether this kind of trust is right for you and work with you to establish a trust that serves your estate planning goals.

As a trustee, New Jersey Elder Law Center can manage your irrevocable trust to help ensure that it serves the best interests of your beneficiaries.

Special needs trusts

If you have a loved one with special needs, a special needs trust can allow you to provide ongoing care and financial security while also protecting eligibility for benefits such as Medicaid and Supplemental Security Income.

Compared to other kinds of trusts, a Special Needs Trust can require a more “hands-on” approach, including coordinating benefits and planning for future care needs. At NJELC, we view special needs planning as a central part of our mission and are passionate about providing experienced trustee services for loved ones with special needs.

We’re proud to work closely with families and caregivers to manage Special Needs Trusts. Our goal is to prioritize the needs of your loved one and ensure that your trust can continue to provide for them in years to come.

Work with Our Experienced Legal Team

If you’re looking to use a trust to preserve your assets and provide for your loved ones, the team and NJELC can serve as experienced, compassionate trustees.

We have the legal knowledge and the hands-on experience to help you ensure that your trust will continue to serve the needs of its beneficiaries. We can help you gain peace of mind knowing that a team with experience and empathy will steward your assets.

If you need trustee services in New Jersey or have further questions about using trusts as an estate planning tool, don’t hesitate to reach out.

Schedule a free consultation today and a member of our team will be happy to guide you through your options.