The loss of a loved one can affect the physical and mental health of survivors. Unfortunately, as you grieve for your family member and say goodbye, you have many practical steps you need to take to begin the process of moving on. Your loved one’s property must be managed, his assets must be protected, and steps must be taken to transfer wealth and wind up the affairs of the deceased.
Hedeker Law can help. Our legal team offers assistance with both trust administration and probate, which are two of the most common ways that assets transfer after someone has passed away. We offer assistance to clients in Lincolnshire, Illinois, and the surrounding Chicago area and our advocacy and representation is aimed at making the post-death process stress free for you. Give us a call at 847-913-5415 today to talk with a member of our legal team about how we help with the legal processes that are needed after death, and to get answers to questions including:
- What are trust administration and probate?
- Do I need a lawyer for trust administration and probate?
- How can a Lincolnshire trust administration and probate lawyer help me?
What are Trust Administration and Probate?
Trust administration and probate are two different processes which occur after someone has died. Probate is required for most estates while trust administration occurs only when the decedent created a trust. The processes both make it possible for the assets which the decedent left behind to be transferred to those who have the right to inherit.
The biggest difference between probate and trust administration is that probate occurs in court, while trust administration is supposed to occur without judicial oversight, unless a problem arises. Trust administration is also generally faster than probate. While there are key differences, there are also similarities as well. For example, during both probate and trust administration:
- Those who stand to inherit must be notified.
- Assets must be managed until new owners inherit.
- Tax returns must be filed, if applicable, and taxes have to be paid.
- Creditors have to be offered the chance to make claims.
- Titles, deeds and accounts have to be changed to reflect who the new owners are.
These processes can be complicated, so it is important for those who are involved to be represented by a lawyer who can advise them and help them to fulfill their obligations.
Do I Need a Lawyer For Trust Administration and Probate?
During probate, an executor who was named in the decedent’s will has a lot of responsibility. During trust administration, it is the trustee who has to take on necessary tasks for asset transfer. Both the executor and trustee who are in charge of the probate or trust administration process will have to file appropriate paperwork, provide required notices, and do all of the other technical steps necessary to wind up the decedent’s affairs. Because they have so many responsibilities, trustees and executors should strongly consider legal representation.
Those who are going to inherit do not have the same level of ongoing responsibility as a trustee or executor. However, it is their money and property on the line if something goes wrong. To make sure the trust administration process or probate processes go smoothly, those who are going to inherit often hire their own legal advocate. An attorney can help to monitor the proceedings and to take action if there are problems, like unnecessary delays or a trustee or executor who fails to fulfill duties.
Finally, there is one more group who may need legal advice. Those who believe they have grounds to challenge the validity of a will or a trust should also be represented by an experienced attorney. If you challenge a will or believe a trust should not be enforced, you need to be prepared with a strong argument. An attorney can help you to try to convince the court not to honor the documents being presented for trust administration or probate.
How can a Lincolnshire Trust Administration and Probate Lawyer Help Me?
Hedeker Law is here for those who have lost loved ones and who need assistance with the legal processes that result. We understand how important it is for you to preserve the legacy of your deceased loved one and to protect an inheritance which has been left to change the lives of family members. We assist with large and small estates and we always work to make the process easy for clients in Lincolnshire and surrounding areas throughout Chicago. To find out more give us a call at 847-913-5415 or contact us online to speak with a member of our legal team today.