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What to Do When A Loved One Dies

Losing a loved one is a traumatic, emotional, and stressful experience.   It can be extremely difficult to make sound financial and legal decisions while grieving.  We recognize that the administration of trusts and estates is complex and sometimes frustrating.  We are committed to guiding loved ones through the process smoothly with compassion, sensitivity and understanding. 

It is vital for Personal Representatives and Trustees to have legal counsel when administrating an estate or trust.  We want to help you avoid making innocent decisions and honest mistakes that result in unfortunate, avoidable, and irreversible tax consequences and personal liability. We also advise and represent fiduciaries who are managing ongoing relationships with beneficiaries.  We understand maintaining harmonious relationships and minimizing discord is in the best interests of all parties.

We provide counsel and representation regarding the following:

  • Details of the will or trust
  • Trustees or Personal Representative duties
  • Representation of Personal Representatives in estate administration, probate and tax proceedings
  • Challenges to the decedent’s estate planning
  • Disputes among beneficiaries and/or the Personal Representative or Trustee
  • Preparation and filing of all necessary Probate Court documents
  • Review or preparation of required tax returns, including the Federal Estate Tax Returns for taxable estates
  • Managing estate debts and expenses including dealing with creditors
  • Postmortem planning, including effective use of tax elections, disclaimers and planning for non-US citizen spouses
  • Asset transfers to beneficiaries

Until you have received professional legal advice, DO NOT

  • Make any changes to or close any accounts
  • Make any claims for death benefits or insurance proceeds
  • Make any changes to an IRA, 401(k), 403(b), or other retirement plan
  • Remove or distribute personal property


What is the Difference between Probate and Trust Settlement?

Probate

Probate is the legal process that takes place after someone dies in order to legally transfer the title of assets to the beneficiaries designated in a will (testacy) or to identify and transfer assets to the beneficiaries of someone who died without a will (intestacy).  The probate process is designed to ensure the validity of a will, accuracy of accounting for the decedent’s assets, fairness in treatment of the heirs, and protection of the rights of the decedent’s creditors.

Probate may be a lengthy, complicated process, especially if an estate is disorganized.  Personal Representatives can find themselves handling challenges to the will, relatives contesting their shares, sizable debts, and other obligations brought by creditors and interested parties. 

Trust Settlement

Trust settlement is the process that takes place after someone who created a trust dies.  If the trust was funded with the trustmaker's assets correctly prior to the trustmaker’s death, this process will avoid the probate process and the associated expenses completely.  The complexity of any trust administration and settlement depends on the assets in the trust, the asset values, and the degree of tax planning in the trust.  When a trust is administered correctly, the decedent's instructions inside of the trust are followed regarding asset transfers and obligations. 

For more information go to What To Do When A Loved One Dies.

Getting Started:  Probate & Trust Administration