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The majority of our clients have living trusts as a very important component of their estate plans.  One of the advantages of having a living trust is that, if properly funded, it allows the estate to pass without the necessity of probate, which can be, among other things, unnecessarily costly.  One of the services offered by our firm is assistance in administering the living trust following the death of one or both of the trustors.  When our firm is retained to assist in the administration of a trust, one of the questions which we are commonly asked is, “How much will this cost?”  This is a difficult question to answer, as it really depends on many factors, including, among other things, the value, location and type of assets held, the number of beneficiaries, the relationships between the beneficiaries, and the successor trustee’s responsiveness.  Of these factors, the one which can reduce the costs of trust administration most is the trustee’s responsiveness.   By responding promptly and efficiently to the inquiries made by our firm during the administration process – whether we request statements/accountings/tax documents, etc., a trustee can greatly reduce the costs of the administration of the estate by communicating with us on a regular basis, and providing us with the information which we request in a timely fashion.  By doing so, our firm can assist in the prompt and efficient administration and distribution of the estate to the intended beneficiaries, thereby minimizing the costs of the administration.