Compassionate Probate And Trust Administration Services
Enduring the death of a loved one is difficult enough on its own. When you’re tasked with being the personal representative of that person’s estate, however, you must also deal with a legal process called probate with which you may have little experience.
Each probate process is unique. Factors that may affect probate includes whether there is a will, the types of assets owned by the decedent (the person who has died who’s estate is in probate), creditors, taxes and family dynamics. Minnesota law contains specific timelines and procedures to ensure the proper payment of bills and distribution of assets.
If a loved one avoided probate by using a trust, the trustee may need advice in managing and administering the trust. The Twin Cities attorneys at Gries Lenhardt Allen, P.L.L.P., can help guide both personal representatives and trustees through the complex probate administration process. We’re very familiar with the nuances of wills, trusts and other aspects of estate law.
What’s The Difference Between Probate And Trust Administration?
These two procedures often get lumped together as they occur after the death of a loved one. An estate’s personal representative is responsible for overseeing the proper administration during probate. A trustee, however, is responsible for administering the trust, which happens outside of the probate process.
Probate administration refers specifically to the court-supervised process of distributing an estate after death. The probate court will review the decedent’s will and follow through with their wishes as outlined. If there isn’t a will in place, the court will follow state laws regarding intestacy. In Minnesota, that typically means the decedent’s assets will go to their closest relatives first, such as their spouse or children.
As a personal representative handling an estate during probate administration, you may be responsible for:
- Identifying and locating assets
- Notifying creditors
- Paying bills and taxes on behalf of the decedent
- Filing documents with probate court
- Reporting information to beneficiaries
- Distributing remaining assets to heirs
Probate administration can often take months or years to complete. It’s a long and costly process that can last even longer if the decedent did not have a will, or if disputes arise.
On the other hand, trust administration is much more streamlined. Many people rely on trusts to help bypass probate as it’s a private and expedited process for distributing assets. When the decedent put assets into a trust for a beneficiary, the trustee is responsible for following their guidelines on how to administer the trust upon their death.
Trustees often have similar duties to complete as a personal representative, including:
- Identifying trust assets
- Identifying and notifying the trust beneficiaries
- Managing the trust assets
- Making distributions in accordance with the trust terms
Trust administration may not take as long as probate, as it’s designed to help beneficiaries receive their assets much more quickly. However, some trusts may involve ongoing duties over the long term.
Both processes have many moving pieces, and it’s normal for any trustee or personal representative to be overwhelmed. Our attorneys are familiar with all aspects of trust and estate administration and can help you fulfill your legal duties.
Trust In The Experience Of Our Legal Team
Our experienced Minnesota probate and trust administration attorneys can anticipate the issues that might arise during the probate and trust administration process, including the possibility of a will contest or other estate disputes. We customize our advice to each client and provide specific guidance based on the unique circumstances of each client.
You can rely on us to help you get through this difficult time.
Contact our firm today at 612-568-0023 to schedule an appointment. You may also complete our online contact form to send us information about your legal needs; however, the submission of the online contact form does not create an attorney-client relationship.
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