Probate refers to the judicial process where a court reviews the will of a deceased person to make sure it passes legal requirements to qualify as the official “last word” regarding the distribution of their assets. Probate proves the will’s validity in a court of law, and then administers the estate according to the decedent’s wishes.
Once the will is admitted to probate, the court appoints an executor to identify heirs and creditors, inventory and value assets, pay debts, and eventually distribute the remaining property to the beneficiaries.
Unfortunately, probate costs can be expensive and the probate process, even when uncontested, can be long. And for individuals who die without a will, the process can be plagued with even further expenses and additional delays.
Probate rarely benefits beneficiaries, and it always costs them money and time. For these reasons, our skilled probate lawyers can recommend strategies to avoid probate to make life a bit easier for those you leave behind and wish to care for.
When a person dies with a fully-funded trust, probate is avoided entirely, and the settlement of the estate becomes a family matter with no court involvement. The trust is administered to the successor named in the trust. Although the process is typically faster and less expensive than probate, it can be confusing.
Riverwood Legal & Accounting Services, S.C. has over 55 years of combined experience to assist you and your family with the administration of your trust. If you are the designated trustee, we can help you administer the decedent’s trust to ensure each aspect is fully taken care of properly and with minimal stress for you and the loved ones left behind. We can help you communicate with the beneficiaries of the trust, so they are informed every step of the way, and are provided with an approximate distribution time frame.
Call Riverwood Legal and Accounting Services today to discuss your options for trust administration at 262-446-8145.