The average person has little experience dealing with trusts and often has many questions upon becoming a trustee for the first time. In fact, many people have unreasonable expectations about the way living trusts work following a death. There is sometimes a notion that a living trust magically avoids all administrative expenses and chores. This is one of the most common myths surrounding living trusts.
Compared with probate, a living trust usually reduces the costs, delays, and work involved in administering a properly drafted estate plan. However, it does not eliminate them entirely. As your trust administration attorney, we will assist you in carrying out your trustee duties and assist you with the legal procedures that are required in carrying out this process.
If you are the Successor Trustee responsible for administering a living trust after the death of the Trust-Maker, there are many steps you need to take to administer and settle the living trust. In most cases, successor trustees are surviving family members with no prior experience in trust administration. Hiring an experienced trust administration attorney from the Law Offices of Robert E. Greeley is essential to preserving and protecting trust assets for beneficiaries.