ESTATE, PROBATE & TRUST ADMINISTRATION
Our Probate and Trust Administration Department assists private and professional fiduciaries in fulfilling their roles in what can be a complex and problem fraught area of the law.
Probate Administration will occur when someone dies with a will or has done no estate planning to pass assets without probate at death. The probate estate consists of assets titled in the deceased person's name alone. The probate estate will not normally include assets that pass at death by beneficiary designation, such as life insurance proceeds or retirement assets; assets that pass to a surviving joint tenant by right of survivorship; or assets that pass at death by "pay-on-death" or "transfer-on-death" designations and funded living trusts.
Trust Administration includes representing Trustees in the administration of trust assets at the incapacity or death of a person who has created and funded a living trust. Tax planning, sub-trust allocation, dynasty trust planning and funding individual distributions can involve complex legal, tax and financial issues that require expert analysis, discussion and decisions. Proper analysis and administration of a trust following death, in our opinion, is as important or more important in some cases than the initial planning.
We have estate, gift and income tax experience with both Probate and Trust administration that can assist the personal representative and successor trustee in complying with the myriad of tax laws that apply at death, and during administration.