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PROBATE AND TRUST ADMINISTRATION
Probate is a legal proceeding under the jurisdiction and supervision of the Probate Court in the decedent’s county of residence. Contrary to what many people believe, a Will itself won’t stop the need for a probate proceeding. The probate process is used to appoint an executor (personal representative), gather and value the decedent’s assets, notify and pay creditors, pay court costs and administration expenses, and distribute the remaining assets to the intended beneficiaries.
A trust administration is a process used to administer assets in a decedent’s trust at the time of death. Many tasks are the same as probate, such as gathering and valuing assets, paying creditors and administration expenses, and distributing assets to beneficiaries. However, there is typically no Probate Court involvement in a trust administration. This results in no court costs and virtually no court filing requirements. All documents filed with the Probate Court are available for review by the general public, whereas a trust administration protects the privacy of all interested parties. The trust administration process can be faster than a probate proceeding because there are no court proceedings. We can help you handle probate and trust proceedings in an efficient and cost effective way.