MaxCorp has an attorney on staff who provides legal services relating to matters of trusts, conservatorships, and other estate administration, including representation in Court whenever required.
Our bookkeepers reconciles all client accounts monthly, prepares financial reports for clients and/or the court at least annually, and arranges for preparation of 1099 and other reports required for tax purposes.
Our social worker works directly with clients to create personal budgets and facilitate communication with relevant agencies (e.g., Department of Veteran Affairs, Social Security Administration, etc...) to help the client obtain the best quality of life possible.
Conservatorship of the Property
A conservatorship is a court case in which a responsible person or organization is appointed by the Court to care for the property of an individual who is unable to manage his/her own property. The individual could be an adult or a child. The property could be money, real estate, or any assets. In general, the conservator makes decisions that are in the best interests of the individual served. As court-appointed conservator, MaxCorp's duties have included:
- Attending Court hearings
- Payment of mortgages, utilities, and insurances
- Collection of rents and other income
- Payment of caregivers and other service providers
- Monthly reconciliations of bank and investment accounts
- Annual submission of accountings to the court as required
There are many benefits to having a professional trustee involved.
What is a Professional Trustee?
When you set up a trust, you need to name a trustee to manage and administer the assets that your trust controls. Generally, when people think of a professional trustee service, they think of naming a bank trust department or trust company. However, bank and standard trust companies can be costly and require a high volume of assets. Consider naming a fiduciary that is both affordable and professional.
Maximum Legal Services Corporation (“MaxCorp”) can provide low-cost professional trustee and estate administrative service for residents across the State of Hawaii.
Types of Trustee Services:
- Trustee : You may not have the time, desire, or experience to manage and administer your trust yourself. A professional trustee has responsibility for managing and administering your trust, and overseeing investment management, according to your instructions.
- Successor Trustee : If you decide to be your own Trustee or name another individual, consider naming a professional trustee as the successor trustee. In this capacity, they will step in only when you can no longer act due to incapacity or death.
- Other Services Offered:
- Special Needs Trust Administration
- Supplemental Needs Trust Administration
As trustee, MaxCorp has:
- Facilitated information sharing among family members involved with the Trust
- Invested and managed trust assets
- Distributed assets in accordance with the Trust directions
- Undertaken actions to transfer properties as needed to effectuate the Trust intentions
- Coordinate tax return preparations as needed
Special Needs Trust and Supplemental Needs Trust
MaxCorp can be named as trustee in Special Needs Trusts and Supplemental Needs Trusts. These unique trusts are created for persons in specific situations. As a trustee in these trusts, MaxCorp has:
- Worked with families in identifying qualified payments for beneficiaries
- Paid for services, expenses, and items properly allowed under the Trust
- Regularly assessed the benefits payable to the beneficiary based upon current information