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Our Probate Services
Probate is a legal process that takes place after someone dies, during which their assets are distributed to their heirs or beneficiaries. It involves proving the validity of the deceased person’s will, identifying and appraising their assets, paying debts and taxes, and distributing the remaining assets to the beneficiaries. Probate can be time-consuming and expensive, and in some cases, it can be avoided through proper estate planning, such as creating a living trust.
Trust administration is the process of managing a trust after its creation, ensuring that the wishes of the trust creator are carried out and the beneficiaries receive their designated assets. It involves tasks such as record-keeping, tax filings, asset management, and communication with beneficiaries. The trustee is responsible for fulfilling their fiduciary duties, which includes managing the trust in a manner consistent with the trust agreement and the law.
A spendthrift trust is a trust that is created for the benefit of a person (often unable to control his/her spending) that gives an independent trustee full authority to make decisions as to how the trust funds may be spent for the benefit of the beneficiary. Creditors of the beneficiary generally cannot reach the funds in the trust, and the funds are not actually under the control of the beneficiary.