Flood & Masiuk LLC
When you plan your estate, you create legally binding documents. It is important to record your wishes in writing, but there is also a human element to consider.
People must take certain actions to bring your wishes to fruition. Estate administration is part of the process, and you should consider this side of the equation. If you take the right steps, you can leave behind a turnkey situation for your loved ones.
Role of Successor Trustee
If you have a revocable living trust, the trustee handles the estate administration tasks. You can serve as the trustee while you are living, and you name a successor trustee to assume this role after your passing.
The successor trustee can be someone that you know, or it could be a professional entity like a trust company or the trust department of a bank
There are certain procedural steps that must be taken after your passing, and your loved ones will have questions. When you create the trust, you can ask your estate planning attorney to guide your family through the postmortem process.
Probate Process
Probate is the legal process of estate administration. When you use a last will to arrange for the distribution of your assets, the will must be admitted to probate before the heirs receive their inheritances.
The executor that you name in your last will acts as the estate administrator. You can arrange for your estate planning lawyer to assist your executor as the estate is passing through probate.
Free Estate Administration Reports
We have two very informative estate administration reports that you can download through this website. These reports are being offered free of charge, and you can click the links below to obtain access:
Estate Administration Consultation
If you would like to discuss estate administration with a licensed Southampton trust administration and probate attorney, click this link to request a free consultation: Southampton PA Estate Administration.
