Trust and Estate Administration
Somebody once said, “The question is not whether we will die, but how we will live.” It is never easy to think about or plan for our own deaths. At Woodway Financial Advisors, we understand the sensitivities surrounding trust and estate planning, but we also know that having your estate in order is the greatest gift you can give your loved ones. That's why we want to help you move beyond the task and enjoy the outcome: the ability to live your life with peace of mind and a genuine sense of well being.
Woodway Financial Advisors is certified in the State of Texas to serve any and all of your family's estate planning and administrative needs. Whether you wish to minimize estate taxes, safeguard assets or maximize the financial gifts you leave to family or charity, Woodway Financial will work closely with you to design an appropriate plan for your estate, which could include family partnerships, foundations, charitable trusts or trusts for children, grandchildren or other family members.
Woodway Financial Advisors is also uniquely qualified to help manage the administration of your trust or estate, serving as an administrative agent and advisor to your hand-selected trustee or executor. We are happy to advise on investment strategies, ensure adherence to applicable grant-making guidelines, or offer logistical support as part of the funds distribution process. And of course, if you choose, a member of the Woodway Financial family can serve directly as your trustee or executor.
Woodway Financial provides expert counsel in trust and estate administration utilizing the following services:Trust Administration
• Custody and safekeeping of trust assets
• Management of investments
• Regular review of investment performance and trust activity with clients
• Collection of income
• Distribution of income to beneficiaries or reinvestment according to trust provisions
• Review and processing of requested discretionary distributions
• Bill paying
• Periodic statements of assets and transactions
• Maintenance of tax records for all income and transactions
• Annual summary of tax records for tax return preparation
• Remainder distributions
Estate Administration
• Probate will
• Collection and safekeeping of estate assets
• Preparation of inventory of estate assets
• Appraisal of estate assets
• Notification of creditors
• Payment of debts and expenses
• Collection of monies owed the estate
• Management of estate assets
• Coordinate with attorney and accountant in probate filing, inventory, accounting and preparation and filing of income and estate tax returns
• Marshalling assets and assistance with transfer of title
• Advice and assistance on the funding and investment of trusts under wills
• Final disbursement of assets