Probate and Trust Administration
Probate and trust administration involves the management and distribution of a person's property after they become incapacitated or die. A well-developed estate plan culminates with probate or trust administration, or sometimes both, to implement and carry out the plan. The primary purpose of every probate and trust administration is to manage, preserve, and distribute the decedent’s property efficiently, according to the decedent’s wishes, while protecting the interests of heirs, beneficiaries, and creditors.
Probate
Depending on what assets are owned by the decedent, and whether they are owned individually or jointly with another person, probate administration is usually required when someone dies either with a will (the legal term is “testate”) as the primary document in their estate plan, or without a will (the legal term is “intestate”). While probate procedures and requirements are often criticized as being long, expensive, and sometimes frustrating, probate is a helpful, established legal process that can bring certainty and finality to a person’s legal and financial issues after death.
I represent personal representatives and other interested persons to complete the probate process. I provide detailed guidance to my clients using explanatory letters that are written specifically for each case, as well as checklists and information forms, all which assist my clients to complete a very organized and efficient process. I assist my probate clients so that they understand how to meet their legal and fiduciary obligations, and I make myself readily available to assist, or to answer any questions, big or small.
Trust Administration
Trust administration is obviously necessary when an estate plan includes a trust that is created while a person is either alive (the legal term is “inter vivos trust”), and the trust continues after incapacity or death, or when a trust is created through a will at the time of a person’s death (the legal term is “testamentary trust”). A testamentary trust is one scenario in which probate and trust administration will both be required. A trustee is authorized to manage and distribute assets according to the terms of the trust document and applicable law, without the requirement of court supervision.
The keys to successful trust administration include the selection of a capable and diligent trustee, and clearly written trust provisions. But there are still several laws designed to protect beneficiaries and creditors that a trustee must follow. Typically, a trustee will require the assistance of an attorney, a tax accountant, and often also a financial advisor.
As with my probate clients, I prepare comprehensive, custom explanatory letters for each of my trustee clients, together with checklists and information forms to aid the trustee. I am happy to work with accountants, financial advisors, and others to properly administer the trust in the best interests of the beneficiaries, and so that my client can confidently meet all legal and fiduciary requirements.