Estate planning documents often nominate a close friend or family member to serve as the personal representative of the decedent’s estate. Similarly, trust documents often name a close friend or family member to serve as the trustee of a trust.
Personal representatives and trustees are types of fiduciaries. As such, they are legally obligated to carry out various responsibilities. Navigating these responsibilities on your own may feel overwhelming. Our attorneys provide compassionate, practical guidance to fiduciaries and beneficiaries in a broad range of matters, including:
- Probate Administration. When a decedent passes away with assets in their individual name alone, probate may be required to distribute those assets to heirs or the person(s) named in the decedent’s will. Our attorneys advise and assist personal representatives throughout the probate process, including the preparation and filing of required probate court documents.
- Non-Probate Assets and Trust Administration. Many estates do not require probate administration. Probate may not be required when, for instance:
- The decedent had transferred assets to a trust during his or her lifetime;
- The decedent utilized beneficiary designations or beneficiary deeds to transfer property at the time of death;
- The decedent owned property in joint tenancy; and/or
- The decedent owned property in his or her individual name, but such property is valued below a certain threshold and is of the type which can be transferred using a “small estate affidavit.”
Our attorneys can assist fiduciaries and beneficiaries with the orderly transfer and administration of non-probate assets. When assets are held in trust, our attorneys advise trustees regarding their fiduciary duties and help ensure that the trust is administered in accordance with its terms and governing law.
- Taxable Estate Administration. Regardless of whether probate administration is required, estates valued over a certain threshold are required to file a federal estate tax return. Our attorneys specializing in tax and estate administration help fiduciaries determine whether the estate will be taxable to ensure compliance with federal estate tax laws.
Currently, our attorneys handle uncontested probate matters only. If a dispute has arisen among heirs, beneficiaries, or other interested parties, we would be happy to provide a referral to counsel who handles contested probate litigation.