Corporate Fiduciary Representation

Fiduciaries undertake duties that require them to conduct themselves with a standard of care, good faith, prudence, and loyalty to the beneficiaries of trusts or other governing instruments. Fiduciaries appointed as trustees are held to high standards of conduct. We are experienced with counseling fiduciaries to handle issues including dealing with trust beneficiaries, as well as tax planning and the various tax issues that may arise during a trust administration.

Basswood represents both nonprofessional and professional fiduciaries, including banks and trust companies in all matters relating to trust administration and certain estate administration. Our team advises fiduciaries from start to finish, including assisting them with complex administration, ensuring that proper notices are provided, and advising the fiduciary regarding marshalling assets, proper accounting methods, and distributions to beneficiaries both during administration and, where applicable, upon termination.

Basswood advises fiduciaries as to a wide arrange of tax matters that arise during probate and the administration of trusts (domestic and international), both revocable and irrevocable. Our team has extensive knowledge of the tax forms that are required to be filed with federal, state, and local tax authorities, and are highly experienced in navigating issues with tax authorities (including international issues and withholding taxes).