Chan PLLC attorneys can help you avoid the frustration and costs of probate through careful estate and trust planning prior to a loved one’s death.
Probate and trust administration is the legal settling of an estate or trust and distribution and transfer of assets to the proper beneficiaries following the death of a loved one. The complexity of estate and trust administration can be overwhelming to families, leaving them feeling legally confused and emotionally exhausted at a most difficult and vulnerable time.
A probate and trust attorney works with the executor/trustee and the beneficiaries of an estate to settle the affairs of your loved one. Even if your loved one had plans in place, there can be unforeseen complications that lead to complex legal challenges and issues.
From properly identifying beneficiaries, assets, debts, and taxes, to final distribution of the estate, we guide you knowledgeably through the process and the legal steps necessary to fulfill your loved one’s estate plan. Through effective estate, trust and probate administration, our experts can minimize family conflicts, delays and expenses, so that proper distribution of assets may be made to the beneficiaries.
Probate and Estate Administration
The probate court process can seem bewildering and complex. We can help you to properly navigate the intricacies of the estate administration process in meeting the requirements of the Court and properly settling the estate. This includes, for example:
- Securing the appointment of the executor of the estate (Personal Representative) with the Court
- Cataloguing and securing the deceased’s assets and liabilities
- Obtaining the tax identification number from the IRS (“EIN”) for the probate estate.
- Working with the CPA and financial advisor in the proper financial administration of the estate
- Identifying the proper beneficiaries and heirs in accordance with the Will
- Assisting in the payment of estate liabilities
- Preparing and filing documents needed by the Court
- Transfer of assets to the beneficiaries after payment of taxes, debts, and expenses
Trust Administration
Each trust is unique and clients can benefit from critical legal guidance for proper administration and compliance. Trustees are responsible for a multitude of duties following the death of their loved one. It’s invaluable to have someone on your team to protect you from liability and advise you of your rights. We can efficiently help you navigate the intricacies of the law and assist in the proper implementation of the trust after the grantor’s death. This includes, for example:
- Properly appointing the successor Trustee of the trust.
- Cataloguing and securing the deceased’s assets and liabilities
- Obtaining the tax identification number from the IRS (“EIN”) for the trust estate.
- Working with the CPA and financial advisor in the proper financial administration of the trust estate
- Identifying the proper beneficiaries and heirs in accordance with the trust agreement
- Assisting in the payment of estate liabilities
- Transfer of assets to the beneficiaries after payment of taxes, debts, and expenses