Trust Administration & Probate
Even if your loved one
planned ahead
Navigating their death
is hard.
We can help.
Hiring professionals such as an attorney and CPA is perfectly normal and we are here to assist you with the complex tax and legal duties.
Probate
Core Steps
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Is Probate Necessary? We can help you review the decedent's assets to confirm that a probate is actually necessary. Sometimes, all of the assets are actually "non-probate" assets - they name a beneficiary, or are "pay on death" accounts. Sometimes, even though the assets do not name a beneficiary, they can qualify as a "Small Estate" which means they can transfer by Affidavit (a document signed under penalty of perjury by the recipient) and probate is not required
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Is There a Will? We can help you determine whether or not the decedent had a valid Will. If there is a valid Will, the probate is a "testamentary" probate and the distribution terms will be provided in the Will. If there is no Will, the probate will be an "intestate" probate, and the terms of distribution will be set by state statute.
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Filing the Petition: We will prepare the Petition for Probate. The executor named in the Will (if there is one) or an interested family member files a petition with the local probate court along with the death certificate and the original Will.
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Appointing the Personal Representative: Upon receipt of the Petition for Probate, the judge formally appoints the executor or administrator and issues "Letters Testamentary" or "Letters of Administration" giving them legal power to act.
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Notifying Creditors and Heirs: Formal notices are sent to known beneficiaries, heirs, and published in a local newspaper to give creditors a set window of time to make claims against the estate.
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Inventorying Assets: The representative lists, appraises the real property (in California, a probate referee values non-cash assets), and values all probate assets (such as real estate, bank accounts, and personal property) and files this record with the court.
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Paying Debts and Taxes: Valid creditor claims, final income taxes, and estate expenses are paid using estate funds.
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Distributing and Closing: Once debts are settled and court requirements are met, the remaining assets are distributed to beneficiaries, final receipts are signed, and the estate is officially closed.
Probate vs. Non-Probate
Assets with designated beneficiaries (like life insurance or 401ks) or property held jointly with rights of survisorship bypass probate entirely.
Cost and Transparency
Probate can be expensive. It involves court filing fees, legal fees, and potential appraisal costs. Because it is a public court proceeding, file details are open to public record.
Timeframe
The legal, court-supervised procedure used to gather a deceased person's assets, pay their valid debts, and distribute what is left to the rightful heirs or beneficiaries, probate is rarely quick. It often takes anywhere from several months to over a year, depending on court backlogs, creditor windows, and family harmony.
Trust Administration
Core Steps
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Review the Existing Documents: The trustee must read and understand the signed trust agreement, amendments, and any accompanying wills.
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Gather and Value Assets: Find all property, close or rename accounts, and get official date-of-death values for investments and real estate.
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Notify Beneficiaries: Legally notify all heirs and beneficiaries that the trust is now active and provide required updates or copies of the document.
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Pay Debts and Taxes: Assist you with determining whether bills are valid, wrap up credit cards or mortgages, and assist you with finding the appropriate financial professional to file any required final income or estate tax returns.
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Make Final Distributions: Assist you with confirming distribution amounts to beneficiaries and making sure the distributions are made according to the trust's instructions.
Timeframe
While a trust administration typically takes less time than a probate, it still involves a lot of administrative work. Depending on the types of assets held by the trust, the final distribution may not be accomplished for many months, even years, after the decedent's death.
Our Process
To update your probate or trust administration, or prepare an initial plan, our process is:
1. Please complete the Initial Questionnaire to outline the scope of your probate and trust administration needs.
2. If our services are a good fit for your needs, we will send you information on how to schedule an initial call with us. As a courtesy, the first meeting, up to a maximum of 30 minutes, is free. After 30 minutes, I will ask if you wish to continue the probate and trust administration discussion. If so, at that point, billing begins at my usual hourly fee.
3. After the initial call, if we both agree it is a good match, we will then do a deep dive for additional information about your current circumstances. Any fees (beyond the free first 30 minutes) will be due at the end of the initial consultation. If we decide to work together, all fees from the initial discussion will be credited towards your initial estate plan (billed at a fixed fee).
PLEASE NOTE: Any scheduled appointments canceled without appropriate notice (less than 24 business hours) is subject to a $200 cancellation fee.
Trust Administration and Probate
Initial Questionnaire
The Trust Administration and Probate Initial Questionnaire is designed to assist you with organizing your information for your trust administration and probate needs. It will help you have a better idea of the documents needed and the steps necessary in the trust administration and probate planning process.
The Trust Administration and Probate Initial Questionnaire may be completed and submitted prior to our meeting.