|
Probate & Trust AdministrationPROBATE
Probate is neither a legal document, nor is it a strategy. Probate is a court procedure with complex, formal rules designed to take care of people who cannot take care of their own affairs, namely people who are incapacitated or those who have died. But probate can be costly, time consuming and invade your privacy. You, your loved ones and your assets can avoid probate only through proper legal documents. TRUST ADMINISTRATION The death or attainment of a specific age of a trust beneficiary often triggers action by the trustee. Depending on the terms of the trust agreement, the trust may terminate or continue in further trust. In either case, the trustee may be responsible for collecting the trust assets, paying the debts of the trust settler or grantor, including income and estate taxes, filing tax returns, accounting to the beneficiaries and distributing the trust assets. As a fiduciary, the trustee has a duty to the beneficiaries to act responsibly. We provide the trustee guidance every step of the way through the trust administration process. Estate and trust administration are similar procedures. However, a probate estate typically is done through the probate court, while a trust administration avoids probate. Have questions or want advice? Contact us, and our team will be happy to provide trusted counsel and proactive solutions! We want to help!
|