Probate and Trust Administration
After the death of a decedent his or her assets need to be evaluated to determine how they were held to determine what actions are necessary to convey the property to the beneficiaries. Some assets may be jointly held in which case the only action necessary may be to supply a financial institution with a death certificate. Other assets may have been held in the decedent's name alone. In this case, the assets are subject to probate administration. Other assets may be held in the name of a trustee under the provisions of a trust document. These assets are subject to trust administration.
The law provides for certain rules to be followed in estate administration. The fiduciary in an administration is accountable to the beneficiaries, creditors and perhaps the court. The fiduciary must also comply with income tax and estate tax laws as applicable.
Costs of administration need not be exorbitant but should be related to the complexity of the situation. Contact us to set up an appointment to discuss the estate administration process and its costs.
Probate and Trust Administrations are handled by our probate team of Jill Burzynski and Marianna Sroka.
