Probate & Trust Administration
Probate and Trust Administration
Let Hafford Elder Law Planning Help You and Your Family!
It is never easy to lose a loved one. We know firsthand how difficult this is for you and your family. Unfortunately, there is a misunderstanding as to when the estate has to pass through the Probate process. If you or a loved one die with, or without, a Last Will and Testament, your heirs should consult a lawyer as to whether or not to go through the Probate process.
Probate is the court procedure of transferring legal title of the deceased person’s assets to the named beneficiaries. Through your will, you’re able to name the persons you want to inherit your assets from you. Bear in mind, “persons” is a loose term as you can also leave money to care for pets or the causes or charities you support.
Probate begins with ensuring your debts are valid and, when they are valid, that they are paid. After the satisfaction of debts your heirs may be paid. Many people do not like the Probate process because it can take years to complete, be expensive, and is a public process. Probate is something many families are not expecting, but find themselves subject to when their loved one dies without a will or only has a last will and testament.
In contrast, with a Trust Agreement, assets are retitled or “funded” into the trust itself. This means that at the death of the trust creator, the assets within the trust will not have to go through probate. Instead, they will pass to the beneficiaries through a process called Trust Administration. Trust Administration is handled differently and will not be subject to exposure or other concerns that can arise during the Probate process.
We work with families in Southern Illinois each day on Probate proceedings. We understand how to represent you if you are named as the personal representative and bear the responsibility of managing the estate. We know how to ensure that the estate, the heirs and the personal representative are equally managed. Do not wait to contact Hafford Elder Law Planning to get started with Probate. You may call us at 618-997-8989 or communicate with us through email. We want to support you during this difficult time.