The River Oaks Office of the Law Office of Bryan Fagan, PLLC supports trustees throughout River Oaks, Upper Kirby, West University, Montrose, and Central Houston as they manage the high-value financial and asset responsibilities involved in Texas trust administration. Trusts in the River Oaks area often include luxury real estate, investment portfolios, business interests, artwork, partnerships, and complex financial structures. Trustees must manage these assets prudently, transparently, and in strict compliance with the Texas Trust Code.
Proper financial and asset management is one of the most important—and most challenging—parts of trust administration. Mistakes can cost the estate thousands, trigger family disputes, or even expose the trustee to personal liability. Our River Oaks Trust Administration team provides trustees with the tools, legal protections, and guidance needed to manage assets professionally and confidently.
Financial & Asset Management Duties in Texas Trust Administration
Trustees in River Oaks often manage sophisticated assets. Below are the key responsibilities required by Texas law.
Identifying, Securing & Verifying All Trust Assets
Trustees must begin by locating and securing every asset owned by the trust. This may include:
- High-value real estate in River Oaks, West U, or Upper Kirby
- Luxury residences, condos, townhomes, or second homes
- Investment and brokerage accounts
- Retirement accounts and annuities
- Business ownership or partnership interests
- Oil/mineral rights or inherited land
- Digital financial accounts
- Artwork, jewelry, antiques, or collectibles
- Vehicles, boats, or recreational assets
Proper documentation ensures assets are not overlooked, undervalued, or mismanaged.
Maintaining Detailed Accounting & Financial Documentation
Texas requires trustees to maintain transparent and accurate accounting records.
Our River Oaks Office assists with:
- Income & expense tracking
- Bank and investment reconciliation
- Transaction logs
- Annual or periodic trust accountings
- Beneficiary reporting
- Organized documentation systems
- Receipt and invoice management
Clear financial records protect both the trust and the trustee.
Professional Asset Valuation & Appraisal Coordination
Many River Oaks trusts include assets that require specialized valuation.
We coordinate:
- Real estate appraisals for luxury homes
- Business valuations for partnerships and corporations
- Investment portfolio analyses
- Appraisals for fine art, jewelry, and collectibles
- Updated property values via HCAD
Accurate valuations create fairness and prevent disputes during distribution.
Investment Oversight & Texas Prudent Investor Rule Compliance
Trustees must follow the Texas Prudent Investor Rule, which requires:
- Conservative, well-researched investment decisions
- Diversification of trust assets
- Ongoing monitoring of investment performance
- Avoidance of unnecessary or speculative risk
- Consultation with financial advisors when needed
Investment mismanagement is one of the most common causes of trustee liability.
Paying Trust Debts, Taxes & Administrative Expenses
Before distributing assets, trustees must resolve all outstanding obligations, including:
- Valid creditor claims
- Property taxes & insurance
- Mortgage payments or HOA fees
- The grantor’s final income tax return
- Trust income tax returns (Form 1041)
- Professional expenses (legal, CPA, appraisal fees)
- Real estate repairs or ongoing maintenance
Proper payment ensures legal compliance and smooth distribution.
Asset Transfer & Beneficiary Distribution Support
Once the administration is complete, trustees must distribute assets as stated in the trust.
Our River Oaks Office assists with:
- Preparing distribution schedules
- Recording real estate transfers
- Coordinating luxury asset transfers (vehicles, artwork)
- Handling investment account transitions
- Communicating clearly with beneficiaries
- Documenting all distributions
Proper distribution avoids disputes and finalizes the trust legally and efficiently.
