ESTATE ADMINISTRATION
Whenever a person dies, his or her estate needs to be collected and managed. Estate administration involves gathering the assets of the estate, paying the decedent’s debts, and distributing the remaining assets. Without a basic understanding of the estate administration process, the whole experience can be pretty overwhelming. That’s why we’re here to help make this process easier for your loved ones.
Once a trust is created and funded, it must be administered by the trustee. The trustee has a fiduciary duty to both the creator(s) of the trust and the beneficiaries. Trustees need comprehensive representation in their fiduciary capacity to ensure that they comply with statutory requirements, including all court document filings and reporting. The statutory requirements are rather extensive and the repercussions for improper administration, whether intentional or not, can be unfortunate.
Additionally, beneficiaries of a trust need competent representation regarding their rights and interest in a trust.
Navigating the court proceedings and administration of an estate is far more efficient with competent legal representation. Personal representatives (aka executors) have a legal obligation to the court and the beneficiaries. Determining whether an estate needs probate or not is dependent on the type of assets and how they are owned. Probate can be testate (when the deceased left behind a Will) or intestate (when the deceased did not have a Will).
Sometimes the death of a loved one can bring out some conflicting behavior with beneficiaries and other interested parties. Having a competent attorney ready to handle those situations is the key to avoiding a lengthy and costly probate process.
Additionally, heirs of an estate may require legal representation to understand their rights and interest in the estate.