If your family has experienced the loss of a family member, our law firm can assist you. Our guiding principle is to provide families with quality Trust Administration and Probate services tailored to each client’s specific needs and goals.
Steps To Take With A Will
If your loved one had a will, the family will go through probate, a court-adminstered process designed to manage the transfer of assets and payment of creditors. Probate, also referred to as estate administration, is designed to ensure that the individual’s debts are paid, the surviving spouse’s rights are protected, and that the property is distributed in accordance with the terms of the will. In estate planning, we endeavor to avoid exposure to probate as much as possible, primarily because exposing the assets to the court increasing cost, adds administrative burden, and often delays distribution of assets. This checklist includes some suggested Steps To Take When A Loved One Passes Away With A Will.
Steps To Take With A Living Trust
We often plan to avoid exposure to probate through the use of a Revocable Living Trust. If your loved one has a living trust, the family will go through trust administration, a process not overseen by the court nor entered into the public record. In trust administration, the trustee ensures the debts are paid, the terms of the trust are followed and property is distributed properly according to the instructions the creator of the trust (and his or her lawyer) set out in the legal document. This checklist outlines suggested Steps To Take When A Loved One Passes Away With A Trust.
IMPORTANT NOTE:
Do not retitle any assets before speaking with a qualified estate planning attorney. That meeting should take place approximately two weeks after your loved one has passed. Sometimes, the family will want to meet earlier. We are happy to accommodate this.
