Estate and trust administrationTHE DEATH OF a loved one is a time of great difficulty for families. One issue that must be confronted is administering the deceased individual’s estate. This can involve probate of a will, administration of a revocable trust, or guidance on how to collect insurance proceeds, transfer title to bank accounts or transfer title to real estate. There are also tax issues relating to the distribution of assets held in pension and profit sharing plans, 401(k) plans and IRAs. The team at Meyer Law Firm can assist you with all of your estate and trust administration needs. We can advise you on how to administer the estate yourself or handle the entire process for you. While dealing with the death of a loved one is never easy, we strive to make the process as smooth as possible.

Meyer Law Firm can assist you with the many probate and estate administration matters including:

Notice to Beneficiaries

Living trusts are established during the creator’s lifetime. Assets are kept in a living trust to avoid the probate process when the individual dies. When a trust becomes irrevocable upon the creator’s death, the trustee must give the creator’s heirs and all trust beneficiaries certain required notices. We counsel newly appointed trustees on the statutory notice requirements and deadlines and prepare all notices to ensure that the trustee properly complies with the law.

Assessment of Trust Inventory

Upon a death, we help the trustee identify and collect all assets within the trust. When necessary, we obtain property valuations and appraisals to determine an accurate value for each asset.

Creating, Funding and Administering Sub-Trusts

Upon a death, it may be necessary to split the trust into sub-trusts, such as a bypass or credit shelter trust (often called a “Family Trust” or an “AB Trust”). The trustee’s failure to properly and timely create and fund such sub-trusts can result in significant estate tax consequences. We assist the trustee to ensure proper administration of the trusts.

Trust Accounting

After paying the decedent’s remaining debts, establishing sub-trusts, and filing relevant state and federal estate tax returns, we assist trustees with accounting documents. We also ensure that the trustee complies with the statutory annual accounting requirements.