"When my husband died, I thought everything would be a mess and that I could not possibly manage it. He always took care of the paperwork.
My attorney at Gilfix & La Poll Associates explained all the steps that have to be taken, saw to it that all steps were taken, and literally held my hand through the process. I could not be more pleased."
J.T.
"Thank you for the help in setting up the trust for our family. After my husband's death, I saw how tremendously valuable it was. And the explanations were great - I now understand why the trust will save our family a fortune in tax!"
M.M.G.
"We greatly appreciated the informative letter you sent about the trust documents that were prepared for us. I continually refer to the information you sent us in writing - every time I have a question, the answer seems to be there. Many thanks again for covering everything so completely."
L. and F.S. |
Upon death, the assets in your estate must be distributed to
the beneficiaries. The form which this distribution takes
depends upon the existence or non-existence of a trust.
Trust Administration
If you die having established a trust to hold your assets
during life, the trust can be used to distribute your assets
upon death. This process, known as trust administration, is
a relatively speedy process by which the successor trustee
collects the assets of the trust and distributes them
according to the terms set forth in the trust agreement. The
process is completely private and between only the trustee
and the beneficiaries.
Probate
If you die without a trust to hold your assets, those assets must be distributed to the beneficiaries through a process known as probate. Probate involves petitioning the court for permission to exercise control over your assets, and ultimately distribute those assets to the beneficiaries. This process is a public proceeding and generally takes longer to complete.
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