The Elder and Disability Law Firm, APC
Different trust assets can raise different issues
Among the tools individuals sometimes use in estate planning and other types of planning are trusts. One of the ways trusts vary from one another is in what assets they contain. There are a range of different types of assets a person could opt to put into a trust.
What assets a trust contains can have many impacts. This includes what particular issues come up in relation to the administration of the trust. Some types of property can give rise to unique and complex issues when put into a trust. Examples include property of a particularly unique nature (such as antiques) or property that can be challenging to properly value.
When a given piece of property placed in a trust raises special issues regarding the administration of the trust, failing to address these issues properly could have serious consequences. How trust administration issues are ultimately handled can impact how effective the trust is at achieving its intended goals and have major implications for all the individuals connected to the trust.
So, when dealing with trust administration issues, having solid guidance on how the particular assets in the trust influence the nature and complexity of these issues and what this means for what should be done to address these issues can be very important.
Due to this, the help of a lawyer experienced in trust administration matters and familiar with how varied and complex such matters can get can be critical thing for a person to have when such issues come up.