• Skip to primary navigation
  • Skip to main content

Krueger Hernandez & Thompson SCEstate

Attorneys at Law

  • Home
  • Our Firm
    • About Our Firm
    • About The American Academy
    • Attorney and Staff Profiles
    • Communities We Serve
      • Adams County
      • Columbia County
      • Dane County
      • Madison/Middleton Area
      • Sauk County
  • Estate Planning
    • Asset Protection & Business Planning
    • ESTATE AND GIFT TAX FIGURES
    • Estate Planning Services
    • Family-Owned Businesses & Farms
    • Incapacity Planning
    • IRA & Retirement Planning
    • Legacy Planning
    • LGBTQ Estate Planning
    • Pet Planning
    • SECURE Act
    • Special Needs Planning
    • Trust Administration & Probate
  • Practice Areas
    • Business Needs
    • Divorce / Family Matters
    • Injuries and Adverse Reactions To Vaccines
    • Real Estate
  • Resources
    • Estate Planning Resources
      • Estate Planning Checkup
      • Estate Planning Definitions
      • Estate Planning Reports
      • Incapacity Planning Definitions
      • Is Your Estate Plan Outdated?
      • Top 10 Estate and Legacy Planning Techniques
    • Frequently Asked Questions
      • Estate Planning FAQ’s
      • Frequently Asked Questions for Families Without an Estate Plan
      • Legacy Wealth Planning FAQ’s
      • LGBTQ Estate Planning Frequently Asked Questions
      • Trust Administration & Probate Frequently Asked Questions
    • LGBTQ Resources
    • Pre Consultation Form
    • Special Needs Resources
    • Trust Administration & Probate Resources
      • Bereavement Resources
      • How to Know if You Need Extra Help With Your Grieving
      • The Mourner’s Bill of Rights
      • Trust Administration & Probate Definitions
      • When a Loved One Passes Away With a Trust
      • When a Loved One Passes Away With a Will
  • Testimonials
    • Review us
    • Our Testimonials
  • Webinars
    • Legacy Wealth Planning
    • Medicaid Planning
  • BLOG
  • Contact Us
  • Call Us Today (800) 431-9776
  • Attend Free Webinar
    • Medicaid Planning
    • Estate Planning
  • Show Search
Hide Search
Home / Trust Administration in Wisconsin / Wisconsin Trust Administration Tips

Wisconsin Trust Administration Tips

Stephanie Thompson, Estate Planning Attorney of Krueger Hernandez & Thompson SC · Sep 21, 2016 ·

trust administrationDo you have questions regarding the trust administration process in Wisconsin? If so, you likely fit into one of two categories:

  • You are creating an estate plan and have an interest in implementing a trust.
  • A loved one has recently passed and you need to learn more about trust administration.

Fortunately, there is plenty of information and guidance available. All you need to do is turn to the right place for help, as this will ensure that you answer all your questions and know what to expect next.

Note: begin your search online by reviewing this webpage. It is provided by the Wisconsin State Legislature, meaning you can trust the information to be accurate.

Follow these Tips

If you find yourself staffed with the responsibilities of a trustee, you know that there are things you should and should not be doing. If you don’t know which steps to take, as well as when to take them, you could make a mistake that causes more problems than you know what to do with.

Fortunately, there are some basic trust administration tips you can follow:

  1. Read the Trust

You are obligated to administer the trust as outlined by its terms and conditions. For this reason, you should read the document carefully to ensure that you understand exactly what it is saying.

If you don’t understand every last detail of the trust, you need to take a step back and wait to do anything else. Along with this, you may need to consult with an estate planning attorney.

For example, we provide a variety of trust administration services. Here’s what we have to say about this on our website:

“If your family has experienced the loss of a family member, our law firm can assist you with the legal process that occurs when a loved one passes away. Our law firm strongly believes that a wisely drafted, carefully executed estate plan is the critical component of a family’s wealth management. Our firm’s guiding principle is to provide families with quality Trust Administration and Probate services tailored to each client’s specific needs and goals.”

It’s easy to believe that you’ll understand the finer details of a trust, but things could take a turn once you dig in. At that point you may realize that there is more to it than you originally believed.

  1. Keep Accurate Records

As your role of trustee begins, you’ll be faced with the task of making many decisions. This often includes transactions that should be recorded in full and with great detail.

If you neglect to keep accurate accounting records, it could come back to haunt you. For example, a beneficiary may begin to believe that you aren’t paying yourself reasonable compensation, but instead taking more money than you deserve.

You can protect yourself and make things clear for every party involved by keeping accurate records.

  1. Keep it Neutral

This is something you need to remember. It is also something that can be hard to do.

Regardless of your situation or relationship with others, you need to remain neutral as a trustee. Even if you have the best intentions, you never want to make it look like you are taking sides. If you do, it’s sure to put another person in a difficult spot.

You don’t want somebody to think you are acting in an unfair manner. This is why you should remain neutral throughout the entire process.

Conclusion

These Wisconsin trust administration tips may not be earthshattering, but they are definitely worth keeping in mind as you move through the process.

There is a lot that goes into this, and you need to be comfortable with every step you are taking. Remember, it only takes one misstep to complicate the process and anger somebody.

If you have any questions about trust administration or estate planning in general, take the time to download our free report entitled “Fifteen Common Reasons To Do Estate Planning.”

Once you have this report in hand, you’ll better understand everything about estate planning. You’ll soon realize what you should and should not be doing. Furthermore, you’ll pick up some basic information and advice regarding trusts.

Our report is free, so you might as well take a second look!

  • Author
  • Recent Posts
Stephanie Thompson, Estate Planning Attorney of Krueger Hernandez & Thompson SC
Stephanie Thompson, Estate Planning Attorney of Krueger Hernandez & Thompson SC
As the owner of Krueger Hernandez & Thompson SC, it is Stephanie’s mission to address each client’s goals for their estate plan. By identifying their wishes and concerns she can educate, guide, and counsel on the different tools and options that will effectively and efficiently accomplish those goals.
Stephanie Thompson, Estate Planning Attorney of Krueger Hernandez & Thompson SC
Latest posts by Stephanie Thompson, Estate Planning Attorney of Krueger Hernandez & Thompson SC (see all)
  • The Questions of Estate Planning, Part 6: Why - January 6, 2020
  • The Questions of Estate Planning, Part 5: How - January 2, 2020
  • The Questions of Estate Planning, Part 4: Where - December 30, 2019

Trust Administration in Wisconsin

MIDDLETON

8215 Greenway Blvd, Ste. 590
Middleton, WI 53562
United States (US)
Phone: (608) 824-9540
Fax: (608) 824-9140

BARABOO

120 Third Street, Unit A
Baraboo, WI 53913
United States (US)
Phone: (608) 356-3961
Fax: 608-824-9140

By Appointment Only
All Mail Should be Directed to the Middleton Address

Opening hours

Monday7:00 AM - 5:30 PM
Tuesday7:00 AM - 5:30 PM
Wednesday7:00 AM - 5:30 PM
Thursday7:00 AM - 5:30 PM

Map

map for Krueger Hernandez & Thompson SC Estate ofice

Se Habla Español
Nous Parlons Français

  • Facebook
  • LinkedIn
  • Twitter

© 2021 · American Academy of Estate Planning Attorneys, Inc. | Disclaimer | Privacy Policy | Sitemap | Contact Us