Areas:
- Probate is the court process used to gather a deceased persons' assets, pay their debts and taxes, and legally distribute their assets to the correct beneficiaries. A court will first appoint a Personal Representative to carry out the wishes of a deceased person as expressed in their Will. If a person dies without a Will, there are laws and rules on how a person's estate is divided.
- Did you know that children and spouses may not be required to pay all the decedent's debts? Where there is not enough money in an estate, creditors may only be paid a portion of their claims.
- Probate will also insure that creditors do not come back later to make a claim against an estate or the heirs.
The duties of a successor trustee may include:
Providing Notice to beneficiaries
Accounting for trust assets
Inventory and appraisal of trust assets
Creating and administering sub-trusts
Paying debts and taxes
The attorneys at Garrison Law Group, LLC can help you with all of these matters.