When someone you love has passed away, the grief can make it seem impossible to go on with your normal routine and get through the day. At this tumultuous time in your life, unfortunately, you are asked to do much more than just try to move on. You also have to deal with a whole host of legal issues involved in settling the estate. In most cases, this process will involve probate, trust administration or both.
Handling the probate and trust administration process can be very difficult for those who have lost loved ones, as well as for individuals who have been named executor of a will or trust administrator. If you are expecting to inherit, given responsibility for the distribution of assets, or concerned about making sure the wishes of the deceased are respected, you need to get the right legal help.
O’Drobinak & Nowaczyk, P.C. is here to represent you. Our legal team can offer you the assistance you need to get through probate and trust administration, whatever your role is in the process. To find out more about personalized advice we offer, give us a call at 219-865-2285. We can also answer questions including:
- What happens during probate and trust administration?
- Who needs a probate lawyer or trust administration lawyer?
- How can a Schererville, Indiana probate or trust administration lawyer help you?
What Happens During Probate And Trust Administration?
Both the probate process and the trust administration process are formal legal processes designed to allow property to pass from a deceased person (a decedent) to his or her beneficiaries or heirs. The processes work differently, but one or both is usually necessary following a fatality.
Unless plans have been made in advance to avoid it, the probate process occurs after virtually every death. The process involves an executor of a will filing court paperwork so the probate court can oversee the winding up of estate affairs.
Steps of the probate process can include offering notice to all interested parties, including creditors, and providing time for claims to be made on the estate. There is also an opportunity for a will to be contested. Either a valid will or intestacy law will determine who inherits during the probate process. Taxes must also be paid, if necessary, and steps must be taken to officially change ownership of assets.
The probate process can take a long time, and can cost a lot of money. Trust administration is an alternative for the transfer of assets within the trust. The trust administration replaces the probate process for those particular assets. The probate court doesn’t become involved unless problems arise, and the trust administrator takes care of the official steps necessary to transfer assets from the deceased to the designated trust beneficiaries.
Who Needs A Trust Administration Lawyer Or Probate Lawyer?
Both the probate process and the trust administration processes can be complex proceedings in which certain parties have a lot of responsibility.
The trust administrator or executor of a will are the ones who must bear most of the burden of following the formal steps necessary to facilitate the transfer of the decedent’s assets. Executors and trust administrators have fiduciary duties, which are the highest duties that exist under the law. They not only must fulfill their role and act in accordance with the wishes of the deceased but they also must take care of assets and protect them until new owners inherit them.
While an executor of a will and a trust administration should definitely have a lawyer helping them because of the complexities of their responsibilities, it is heirs and beneficiaries who have the most to lose if problems arise. No one cares about your inheritance as much as you do, and you should have an experienced attorney advising you during the probate process and the trust administration process to make sure the value of your new assets is protected.
Finally, those who wish to contest a will or challenge a trust also need legal advice, as compelling arguments must be made if you believe the trust or will don’t really reflect the wishes of the deceased.
How Can A Schererville, Indiana Probate Lawyer Or Trust Administration Lawyer Help You?
O’Drobinak & Nowaczyk, P.C. understands the probate process and the trust administration process and we can provide representation to executors, trust administrators, beneficiaries and heirs, and any other interested parties. To find out more about personalized assistance a Schererville, Indiana trust administration and probate lawyer can offer, give us a call at 219-865-2285 or contact us online today.