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The loss of a loved one is difficult enough for relatives and friends without the added stress of settling the family member’s estate. Unfortunately, the law requires an executor or trustee to begin the process of transferring property from the person who has died almost immediately—throwing the executor headfirst into legal procedures at one of the hardest times of their lives. If the trustee is also a family member, he or she may also be expected to handle funeral arrangements and other details, placing the burden of the loss unfairly on this one person.
Call 818-463-0805 to schedule your initial consultation and have estate planning attorney Richard M. Seff answer your most pressing questions at no cost to you.
At The Estate Planning & Elder Law Firm, our Woodland Hills probate lawyer take over the legal aspects of closing a loved one’s estate, allowing families to take the time they need to grieve. Whether the estate must go through probate or trust administration, we can transfer assets to beneficiaries and ensure that your loved one’s wishes are followed with minimum disruption to your life. Call us today to schedule your initial consultation with Woodland Hills Probate Lawyer Richard M. Seff.
Although many of the same steps are involved in probate and trust administration, there are a few important differences in these two ways to settle a deceased person’s estate. Probate is a court process that is required to transfer assets when money and belongings are in the deceased’s name only. An executor is named to present a list of all the deceased’s holdings to the court, who will then subtract any outstanding debts from the estate before releasing the rest to beneficiaries. Some of the disadvantages to probate are that the proceedings are public record, it is often expensive, and it can take a long time before assets are distributed.
A living trust allows assets to be transferred without going through probate. If a loved one has assets in a trust in his sole name and he becomes incapacitated or passes away, the assets immediately pass to the successor trustee named in the trust agreement. The court is not involved since the “owner” of the assets has not changed—the trust is still the owner—allowing the estate transactions to remain private. In addition, the new trustee can access accounts immediately, making trust administration typically shorter and less expensive than probate. However, the trustee is legally responsible for the management and distribution of trust assets, and the trust must have been properly funded to avoid probate proceedings.
The amount of information and effort required to settle an estate can be overwhelming. That is why our Woodland Hills trusts attorney helps executors and trustees perform all of the legal responsibilities necessary after a death, including:
Our law firm was created to give people in all stages of the estate planning and probate process the information they need right now. We have two office locations in Woodland Hills and Los Angeles and are available for weeknight and weekend appointments.
Our Trust and Probate Attorney in Woodland Hills CA, returns all phone calls as quickly as possible to better serve our clients. Call us today to schedule your initial consultation and have estate planning attorney Richard M. Seff answer your most pressing questions at no cost to you.
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Phone: 818-292-8160
5850 Canoga Avenue
Suite 410
Woodland Hills, CA 91367
Phone: 310-230-5686
468 N. Camden Drive
Suite 250
Beverly Hills, CA 90210
Disclaimer: The information on this website is for general information purposes only. Nothing on this site should be taken as legal advice for any individual case or situation. This information is not intended to create, and receipt or viewing does not constitute an attorney-client relationship.
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