Probate and Trust Administration
N/AOUTCOME: Trust Administered and Closed
I was contacted by a gentleman who had been appointed administrator of his widowed father's trust and executor of his will when he passed from a sudden stroke. On top of losing a father, his last pa ... rent, he now had to navigate the very complicated legal process involved in probate and trust administration. Luckily, there was a very well-executed will and trust to guide the process, but it was still more complicated than anyone imagined. When surveying the estate, we found several pieces of property that the father had failed to put into the trust - and therefore needed to go through Probate to add it to the trust. Although not sizeable, we also found several debts that still needed to be settled before completing the Probate. Once we completed the probate process, we moved to inventorying and distributing the trust assets as directed in the trust document. We also had to find a trustworthy CPA to help us file all taxes and keep strict records of money flowing in and out of the trust. After several months, the trust was depleted, wound down, and formally ended. My client had the satisfaction of knowing that his father's final wishes had been followed.
