Probate & Trust Administration
The loss of a loved one is difficult enough without having to navigate the legal responsibilities that follow. Probate and trust administration involve important legal responsibilities that must be handled carefully and in accordance with applicable law. Whether you are administering an estate through probate or serving as a trustee, Essential Legal Planning provides practical guidance and personalized legal counsel to help you efficiently navigate every step of the process.
Probate Administration
When a person passes away, their estate may need to go through the probate process. Whether the decedent left a valid Will or died intestate (without a valid Will ), probate is the legal process through which a personal representative or administrator gathers assets, pays debts and taxes, and distributes the remaining property to the appropriate beneficiaries or heirs.
Our firm assists executors and personal representatives with every aspect of probate administration, including:
- Qualifying with the court.
- Preparing required court filings.
- Identifying and valuing estate assets.
- Notifying beneficiaries and creditors.
- Paying valid debts and taxes.
- Preparing inventories and accountings, when required.
- Distributing estate assets.
- Closing the estate.
We strive to make the probate process as efficient and straightforward as possible while helping fiduciaries fulfill their legal obligations with confidence.
Trust Administration
Serving as a trustee carries significant legal responsibilities. After the grantor (creator) of a trust passes away or becomes incapacitated, the successor trustee is responsible for administering the trust in accordance with its terms and applicable law.
Trust administration may include:
- Notifying beneficiaries.
- Identifying and safeguarding trust assets.
- Paying debts and expenses.
- Managing trust investments and property.
- Maintaining accurate financial records.
- Preparing trust accountings.
- Making distributions to beneficiaries.
- Addressing tax and reporting obligations.
Because trustees owe fiduciary duties to the beneficiaries, mistakes can result in personal liability. We work closely with trustees to provide practical guidance, answer questions, and help ensure the trust is administered properly and efficiently.