The process of transferring assets following a death is often more costly and complicated than heirs or beneficiaries were expecting. Hardship can result during this process if family is dependent upon an inheritance, and the process can be a very stressful one for all involved. Thompson Law, P.C. understands how difficult the trust administration and probate process are for families and our legal team wants to be there to help you cope.
Our legal team has experience providing assistance to families involved in the complex legal processes that a death can unfortunately trigger. We also help with the estate planning process to spare loved ones from being forced to go through trust administration or probate.
To get personalized advice from a Sioux falls trust administration and probate lawyer, contact our firm today. We can also answer questions including:
- How complicated are the trust administration and probate processes?
- What do I have to do during trust administration or probate?
- How can a Sioux Falls, SD probate or trust administration lawyer help?
How Complicated are the Probate and Trust Administration Processes?
Both the probate process and the trust administration process can be complicated for families to cope with after a death. However, because the trust administration process is designed to take place outside of court unless a problem arises, the trust administration process is generally more streamlined.
Complying with state and federal requirements for the transfer of assets makes both the probate process and trust administration process highly technical processes in which many steps are required. The processes involve doing things like providing formal notifications to heirs or beneficiaries and to creditors; obtaining a tax ID and filing tax returns; and formally transferring the names on titles and deeds. An understanding of the bureaucratic red tape involved in these processes is essential, and is something that an experienced attorney brings to the table.
Thompson Law, P.C. can provide assistance with every step that must be taken in either the trust administration or probate process, or both. When you work with an experienced attorney, these processes are no longer complicated or stressful for you, because you an attorney takes care of everything on your behalf.
What Are Your Obligations During Probate or Trust Administration?
Your obligations during the trust administration process vary depending upon what your role is within this process.
- The person with the most responsibility is the trust administrator or executor. The trust administrator or executor of an estate must manage property, file court and other forms with the help of an experienced attorney, and otherwise work with a trust administration or probate lawyer to complete each technical step in the transfer of assets.
- Heirs or beneficiaries do not have a big role to play in the process, but have a lot at stake since it is their inheritance which must transfer. An experienced attorney helps these participants in the trust administration or probate process by monitoring to ensure that the executor or trust administrator fulfills their obligations.
- Those who contest a will choose to become involved in the probate or trust administration process because they wish to raise questions about whether the trust or will is valid. Their responsibility is to work with an attorney to make the strongest possible arguments about why the wishes of the deceased aren’t really reflected by the trust or the will.
Thompson Law, P.C. can provide assistance to any of these parties involved in probate or trust administration. Whatever your obligations are, we can help you to fulfill them… and whatever your rights are, we can help you to protect them.
How can a Sioux Falls Trust Administration or Probate Lawyer Help?
A Sioux Falls probate lawyer or trust administration lawyer at Thompson Law, P.C. has the experience and compassion to provide help with the technical processes of probate and trust administration following the death of someone you care about.
There is a lot at stake for all parties, from executors and trust administrators who could be held accountable for violation a fiduciary duty to heirs or beneficiaries who could lose an inheritance if it is not managed appropriately. We make sure that the processes work as they are supposed to so the deceased’s legacy is safe.
To find out more about the ways in which Thompson Law, P.C. can help you and to get an attorney’s help today with your role in the probate or trust administration process, Give us a call at 605-362-9100 or contact us online today.