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What do I Need to Know About Estate and Trust Administration?

What do I Need to Know About Estate and Trust Administration?

If you are entering the estate administration process, you most likely have a lot on your mind, especially if you were recently appointed as the administrator of your loved one’s estate. Please read on and reach out to our experienced firm to learn more about how we can help you. Here are some of the questions you may have regarding the administration process going forward:

What happens in probate?

When people pass away without creating trusts or wills first, their estates generally end up going through the probate process. If you have recently been selected as the administrator of your loved one’s estate, you will have to know several things about the probate process before proceeding. If selected, you will first have to file a document with the Surrogate’s Court in the county where your loved one resided. When you file, you will also provide the death certificate, probate petition, and all additional supporting documents. This petition declares the heirs, and once successfully filed, the estate’s heirs will be provided with a citation detailing where the probate will occur, all parties’ rights in the matter, as well as the executor’s responsibilities.

If you are appointed the executor, you are in charge of both filing and administering the will. Executors must collect and protect the decedent’s assets, pay all the decedent’s taxes and debts, allocate all the assets to their rightful heirs and beneficiaries, and provide a detailed account of all these actions to the Surrogate’s Court. The truth of the matter is, being the administrator of an estate is a huge responsibility, and you cannot go it alone. Our firm has been providing compassionate and experienced legal counsel to those going through the probate process for years. Put our experience to work for you.

How does trust administration work?

When individuals die before they can transfer their assets to a trust, probate or estate administration is very often the necessary course of action. Trust administration occurs because you must ensure that the title to your loved one’s assets has cleared and that all his or her debts and taxes, as well as all other arrangements with his or her heirs and beneficiaries, are settled. Though the administration process can be complex, it does not have to be. Our firm is ready to make it as seamless, and painless, as possible. We are here to help.

Contact our experienced Rockland County firm

The Lauterbach Law Firm is proud to serve clients throughout Rockland County who are faced with legal matters related to estate planning, real estate, foreclosure defense, landlord-tenant law, business law, and criminal defense. If you require the services of an experienced team of attorneys, contact The Lauterbach Law Firm today to schedule a consultation.

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