Probate And Trust Administration Guidance For Area Families
If you have recently lost a loved one, there are many legal and financial proceedings you may be concerned about. Stevens Law, PLLC, can help you with any questions you may have regarding probate and trust administration. Scott E. Stevens provides personalized services to trustees, personal representatives, and all others involved in the probate and trust administration process.
Probate is the court-supervised process of transferring property at death pursuant to the terms of a will. Probate simply means the process by which your last will is determined to be your final dispositive statement and which confirms the appointment of the person or institution you have named to administer your estate.
The term probate is also used in the larger sense of probating your estate. In this sense, probate means the process by which assets are gathered, applied to pay debts, taxes and expenses of administration, and distributed to those designated as beneficiaries in the will. The executor or personal representative named in the will is in charge of this process, and probate provides an orderly method for administration of the estate.
The need for probate can be minimized or avoided by utilizing a trust or another probate-avoidance technique. In most cases where the decedent had a trust, the assets held in that trust do not have to pass through probate. Even if the decedent had a trust, however, probate may be required for those assets that were not included in the trust.
If decedent had a trust and you have been named trustee, it can be to your benefit to seek legal advice, as the trust will have to be administered in compliance with its own terms and with Minnesota state law. Scott Stevens can help you through this process and ensure that your responsibilities are met. This includes notifying beneficiaries, gathering assets and consulting with financial advisers regarding the preparation of estate tax returns.
Would you like to speak with Scott Stevens regarding probate and trust administration? Please contact Stevens Law, PLLC, to arrange your consultation. Scott Stevens is readily accessible to his clients and approaches their concerns with both creativity and care.