Fairfield County Probate & Trust Administration Lawyer
Probate administration concerns the handling of a deceased's estate.
The person in charge of the estate is known as the executor whose job
it is to carry out the deceased's intentions. This is a complicated
procedure involving compliance with many legal requirements. It is best
handled by contacting an estate planning lawyer in Fairfield County competent
in probate administration. It is vital that every aspect of probate administration
is carried out correctly, and avoiding legal problems in the future is crucial.
Probate Administration Requirements
The executor is the person nominated by the decedent to administer his
or her estate in their will. Upon learning of the death of the decedent,
the executor presents the will to the court to be accepted as valid. Upon
being approved as executor, he or she then takes charge of the decedent's
assets including their bank accounts, and sometimes
real estate and vehicles. He or she will notify known creditors of the decedent and
the taxing authorities. They pay the debts that appear to be valid and
objects to those that are not.
It could be necessary to sell the decedent's assets to pay the debts.
In the case of big assets such as a home, court approval will be required.
Once the business is resolved, the executor may propose a division of
the estate's remaining assets to the heirs as prescribed by the will.
If heirs or creditors dispute his or her actions, the matter is resolved
in the probate court.
(Note: This is just a cursory overview of the probate administration requirements. A
Fairfield County estate planning attorney can help you determine what additional steps are necessary).
Duties of a Trustee in Trust Administration
Follow the terms of the Trust: The trustee must read and understand the trust document to know what the
creator of the trust wanted to have done with the trust. The trustee must
follow the dictates outlined in the document. This may involve making
regular payments to the beneficiaries for their education, medical and
living expenses as set forth in the trust.
Act in the best interests of the Trust: He or she must put the interests of the trust above their own. He or she
may not make loans themselves from the trust or use it for their own benefit.
They must avoid conflicts of interest. It could very well be inappropriate
for to hire themselves or their families to perform other services for
the trust, as this could create legal problems in the future. Any such
decisions should be discussed with a trust administration lawyer
Safeguard the Trust Assets:
The trustee is expected to invest the assets of the trust to protect the
value of the trust.
Pay taxes and other expenses: Taxes on trust income, bond expenses and other bills must be paid.
Probate and Trust Administration Attorney in Fairfield County
At Massih Law, LLC I assist executors in the administering of probate estates
throughout Fairfield County and New Haven County including, but not limited
to, Greenwich, Stamford, Darien, Westport, Fairfield, Trumbull, New Haven
and Milford. I am John N. Massih, and I assist the client in the preparing
of legal papers, making sure the client is in compliance with legal requirements
and deadlines. If it is necessary for the client to appear in court, I
am there to defend and support the client and handle questions. I would
be happy to meet with you to talk about how I can be of help to you and
your loved ones.
Contact a probate administration lawyer
at the firm to discuss your probate matter.