Trust Administration in Austin, Texas

Being named as trustee is both an honor and a significant legal responsibility. Trustees are held to a strict fiduciary standard and can face personal liability if they mismanage trust assets. The trust administration attorneys at Cowan & Associates, PLLC help Austin trustees fulfill their duties correctly and confidently.

What Is Trust Administration?

Trust administration is the process of managing a trust's assets and carrying out its terms — both during the grantor's lifetime and after their death. Depending on the type of trust, this may involve investing assets, making distributions to beneficiaries, filing tax returns, maintaining records, and ultimately distributing the trust estate when the trust terminates.

Trustee Duties Under Texas Law

• Duty of loyalty — acting solely in the best interests of beneficiaries
• Duty of prudence — managing investments as a prudent investor would
• Duty to inform and report — keeping beneficiaries reasonably informed
• Duty of impartiality — balancing the interests of current and remainder beneficiaries
• Duty to administer — following the terms of the trust document
• Duty to segregate — keeping trust assets separate from personal assets

How We Help Trustees

Our Austin trust attorneys provide trustees with the legal support needed to carry out their duties properly. We assist with initial trust funding and asset transfers, investment policy guidance, required notices to beneficiaries, trust accountings, tax filings, distributions, and eventual trust termination.

When a Trustee Needs Legal Help

Trustee liability is real. Courts have removed trustees and required them to pay damages for breaches of fiduciary duty. If you're administering a trust and have questions — about a contested distribution, a beneficiary dispute, an unclear trust provision, or investment decisions — consult an attorney before acting.

Successor Trustees

If you've become a successor trustee following the incapacity or death of the original trustee, the process can be complex. We guide successor trustees through the transition, including gathering assets, communicating with beneficiaries, and establishing proper administration procedures from the start.