Trust & Probate Administration
Having trusted advisors by your side during the trust and probate process is essential. When you're dealing with the raw emotions that come with the passing or incapacitation of a loved one, legal matters can often feel overwhelming. Kiselstein Franckowiak Law Group attorneys understand this and take an empathetic approach to our process.
Trust & Probate Administration Services
Your role as a trustee and all that comes with it can be intricate and multi-faceted, not to mention emotional if you were close to the grantor. It’s important to know your duties regarding your loved one’s estate, and any conditions that may surround it.
As a trustee there are many steps that you will need to take to settle the affairs of the estate. Some of these duties could include distributing the assets in the trust, filing taxes, and paying off outstanding debts. Other, more personal duties, could include notifying beneficiaries, notifying the power of attorney for healthcare, and even making funeral arrangements.
While the process may vary depending on the set-up and complexity of the trust, it’s vital to have a law firm on your side to walk you through the steps in a clear and concise manner. KF Law Group will guide you with expertise and thoroughness, making your job as easy as possible.
In order to formerly close the estate a legal probate proceeding or review will be needed. An informal probate mainly involves completing necessary paperwork and filing it with the probate registrar.
This paperwork will include details surrounding the estate such as beneficiary information, specifics regarding the assets, and any outstanding debts. All involved parties will be notified such as banks, creditors, and of course the beneficiaries. Following this, the trustee will be granted permission to begin to dissolve the estate. This is done through distributing or selling the assets and paying off the debts.
Formal probate involves court proceedings that seek to verify various aspects of the trust. This can happen due to questions surrounding the value of the assets in the estate, or the validity of the will. In this case, the courts will make final decisions on how the estate should be dissolved and closed.
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We'd love to help you understand what's involved with trust and probate administration. Schedule a free consultation with us today.