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Probate & Trust Administration

We not only create estate plans, but we help clients fulfill their fiduciary duties as Trustees and Personal Representatives (Executors) in administering estate plans after the death of a loved one.

Probate

Probate is the court-supervised process of transferring assets from the deceased to his or her heirs and survivors.

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Trust Administration

Trust Administration is the process and duty of the Trustee to carry out the terms of the Trust and ultimately distribute the assets to the beneficiaries in the manner and timing outlined in the Trust.

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Fiduciary Duties

  1. Inventory the assets and help with determining “cost basis” and “fair market value”.
  2. Safeguard the assets from creditors, heirs, etc., and make sure they remain insured during the process.
  3. Distribute the “tangible personal property”.
  4. Make sure all taxing authorities have been paid and are satisfied, both state and federal taxes.
  5. Settling the decedent’s creditor claims including paying all medical bills and other bills.
  6. Provide a final accounting to all beneficiaries.
  7. Make sure our clients, the fiduciaries, are adequately compensated for their time incurred and liability assumed.
  8. Obtain “releases of liability” from all beneficiaries before final distribution.
  9. Assist the client as well as the CPA for the estate in filing final income tax returns.

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