“A trust can serve as the centerpiece of your estate plan. It is a wonderful vehicle that lets you control exactly how you wish to distribute your estate, gives you the privacy you need, and more importantly - allows your family members to avoid the painful, time-consuming probate process while they are grieving.”
Many people elect to establish a revocable inter vivos trust to avoid a probate of part or all of their estates upon their deaths. If the legal title to any property is held by the Trustee of a Trust, it is easier, less expensive, and simpler for that person to handle the administration and distribution of that property upon the Trust creator's death.
Unlike a Will, a trust administration is NOT a court-supervised process. However, like a Will, the ultimate goal is to transfer property from an individual who has passed away to that person's beneficiaries identified by his or her revocable living Trust.
The advantages of a trust administration over a probate proceeding include quicker distribution of property to beneficiaries, a greater degree of privacy due to no court supervision or public record of the process, and in most cases, a less expensive manner of distributing property
Once a Trust is ready to be administered, there are many statutory guidelines a Trustee must follow. Khaled Elder Law will work with you to help Trustees meet all of your legal and Trust-mandated obligations, so you can focus on what really matters - your loved ones.
Contact Khaled Elder Law today to set up an appointment!