When a loved one dies it can be a confusing time. You are in immense grief while also making sure you handle all the technical details of locating assets, paying bills and making sure your loved one’s assets get to the right people, without conflict. We are here to help.
Whether or not your loved one created a trust to hold their assets, he or she did have assets (called the estate of the deceased) that must be handled with careful attention and it’s crucial that you work with a Family Business Lawyer® who can help you to do the right thing, minimize conflict and ensure the smoothest possible transition of assets.
When a trust is created, a trustee is named to ensure the trust’s terms are handled properly. These individuals must carry out all of the trust’s instructions, and they’re legally responsible for doing so within the scope of federal and state law. Such duties are known as trust administration.
Serving in this capacity entails a huge level of responsibility and liability. What’s more, most people named as trustee will have limited, if any, background or experience in the legal and financial duties that come with administering a trust. In this case, the trust administration lawyers at DELOSO-PENACHO LAW can work with the trustee to ensure the trust is administered properly and all legal requirements are satisfied.
If there is not a trust or if not all assets have been properly titled in the name of a trust that was created, we can help your family through the process of estate administration, usually requiring a court process called probate. If you are a beneficiary of an estate, or an executor or trustee, contact us for support in handling the transition of your loved ones assets as easily as possible.