Advice from an Experienced Living Trust Attorney
Do you know what to do when you have lost a loved one? We can help! There is a lot of information to follow, so take it one step at a time. The most important thing to do is take time to celebrate the life of a special person, then allow us to help you with the next step. A living trust attorney at Deason Garner Law Firm in Yuma, AZ, can provide expert guidance throughout the entire process.
The most important thing to do is take time to celebrate the life of a special person, then allow us to help you with the next step.
If the Person Passed with NO Estate Planning
If you pass away without Estate Planning, it is called “dying intestate.” The assets in a person’s name will be called the “Estate” and the “estate” will be subject to state intestacy laws and go through probate court.
If the Person Passed with a WILL
The only way a will has any legal effect or validity is through the probate court. It MUST be submitted through Probate. A Will ONLY works through Probate. The probate process requires a court to take over the “estate” to be sure debts are paid, loose ends are taken care of and for assets to be distributed. A personal representative is appointed and their role manages the very complex and long process.
If Your Loved One Created a Living Trust
The process to follow after someone has passed with a Living Trust is called the Trust Administration. Upon the death, the appointed Successor Trustee steps in to follow the instructions according to the trust. This is a completely PRIVATE process that does NOT include the court. Our firm serves as counsel to the Trustee to assist with the duties and interpretations of the documents. When a Trust is not administered properly the Trustee runs the risk of causing the beneficiaries to pay penalties or additional fees.
Do not re-title any assets before speaking with a qualified estate planning attorney. That meeting should take place approximately two weeks after your loved one has passed. When dealing with a living trust Arizona residents trust Deason Garner Law Firm, get in touch with us and we can help.
“After researching estate planning, my husband and I contacted Deason Garner Law Firm and were pleasantly surprised at the relative ease of setting up a Living Trust. All of the personnel we met at the firm, including but not limited to, Adam and Ashley, went above and beyond their assigned duties to make this happen for us. We feel confident in their expertise in this area and feel that we have made two new friends in Yuma! Thank you!” K. Knight