{"id":37,"date":"2017-08-02T13:55:11","date_gmt":"2017-08-02T13:55:11","guid":{"rendered":"http:\/\/duneganlaw.com\/elder-law-medicaid-planning-copy\/"},"modified":"2017-10-09T16:15:28","modified_gmt":"2017-10-09T16:15:28","slug":"probate-trust-administration","status":"publish","type":"page","link":"https:\/\/www.duneganlaw.com\/probate-trust-administration\/","title":{"rendered":"Probate & Trust Administration"},"content":{"rendered":"

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Central Florida and Greater Orlando Probate and Estate Administration Attorneys<\/h4>\n

When a loved one passes away, depending on the type of planning that has been completed, his or her estate and\/or trust will need to be administered.\u00a0 There are two ways that a loved one\u2019s estate is administered:
\n1. Probate. This is a court-managed process where the assets of the deceased are managed and distributed under the supervision of the Probate Court.<\/p>\n

2. Trust Administration. This is a private process for estates where the loved one owned his or her assets through a properly funded revocable living trust.<\/p>\n

In both cases, the estate needs to be administered in a timely, orderly process where the executor or the successor trustee will gather assets, sell those not needed, pay all expenses and finally make distribution of the deceased\u2019s assets to the beneficiaries.<\/p>\n

Every probate or trust administration is unique, but most involve the following steps:<\/p>\n

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  • Review of the executed will or revocable trust<\/li>\n
  • Filing of a petition with the probate court to admit the will<\/li>\n
  • Identifying beneficiaries under the will or revocable living trust<\/li>\n
  • Inventory and appraisal of estate assets by Executor under the will or Successor Trustee named in the revocable trust<\/li>\n
  • Payment of estate debts and expenses<\/li>\n
  • Estate tax analysis\/filing return if needed<\/li>\n
  • Collection of death benefits<\/li>\n
  • Sale of estate assets<\/li>\n
  • Payment of loved ones\u2019 final taxes and estate taxes, if any are owed<\/li>\n
  • Distribution of assets to heirs and beneficiaries.<\/li>\n<\/ul>\n

    The Probate and Trust Administration process is complex and can be very difficult.\u00a0 If you have recently lost a loved one, and are named as the Personal Representative\/Executor or Trustee in their estate plan, we have many years of experience that we can bring to bear to make your administration go as smoothly as possible.<\/p>\n<\/div>

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