What Is Probate?
When a family member or friend passes away, his or her estate often goes through a process supervised by the local probate court. This is a time-consuming process that requires numerous filings with the court, considerable costs, valuation of various assets, possible court sales or auctions, taxes, and ultimately, distribution of property to heirs.
The entire process is referred to as probate administration, and typically, it takes a year or longer to complete. It may cost many thousands of dollars based upon the value of the assets in the person’s estate. Of course, probate can and should be avoided by the use of a thorough revocable living trust, which we can draft for you.
If your loved one has recently passed away and their estate must go through probate, attorney Marc L. Edwards is here to guide you through the process as painlessly as possible.
Trust administration is the process of distributing the assets in a trust after someone’s death.
This process is similar to probate administration but usually takes place outside of court. It is supervised by the trustee’s attorney and CPA. Our lawyer is both an attorney and a CPA, so he knows how to effectively administer an estate.
The Law Office of Marc L. Edwards helps many trustees:
- Provide notice to interested parties
- Gather and manage trust assets
- Obtain property values
- Account for receipts, disbursements and sales of trust assets
- Prepare necessary tax returns
- Distribute assets to trust beneficiaries
Transferring bank, brokerage and other financial assets involves various legal documents to ensure that costs and taxes are minimized. Our office provides the professional guidance and advice you need during trust administration.
Contact Us Now For Assistance With This Important Matter
To schedule a free consultation with an attorney-CPA who knows exactly how to help you, please call 818-344-8200 or use our online contact form.