When a loved one passes away, someone has to deal with the practical matters, including handling the decedent's estate.
When someone dies without a living trust, even if they had a will, his or her estate goes through a process called Probate. Probate is the process of gathering the decedent's assets, appraising them, paying off creditors, and making distributions to the beneficiaries. The process is overseen by the Superior Court. The Court appoints an executor or administrator, usually a person designated in a will or a close relative, whose responsibility it is to see the process through and make regular reports and accountings to the Court. The entire process averages over a year. Probate costs are set by the legislature - all lawyers are bound by this rate. The charges are billed as a percentage of the estate, at the end of the probate process.
What about Trust Administration?
Even if your loved one had a living trust, that trust must be administered in a way it hadn't been during their lifetime. To fulfill your responsibilities to the decedent and to the beneficiaries will require that matters be handled professionally and promptly. Unlike Probate, trust administration is billed at an hourly rate and is negotiable.
You don't have to go through probate, or administer a trust, alone; we can provide you the professional assistance you need to do what you need to do with a minimum of stress. Call us and come to our office for a free consultation, or we'll come to your home to discuss the process.
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