The process of coping with legal issues after a death is very stressful and difficult for many people, but it does not have to be. When you put your trust in Eghrari Wealth Training Law Firm, our experienced trust administration and probate attorneys will handle the court process and legal issues for you so you can focus on coping with your grief and comforting those who you love.
Trust administration and probate can be complicated, no matter how large the estate or what your role is. You need to have an advocate advising you and looking out for you, not only to protect your own interests but also to make sure the wishes of the deceased are fully honored. For more than a decade, Eghrari Wealth Training Law Firm has been providing help with both probate and trust administration in Long Island and surrounding areas. We are dedicated advocates for our clients, and we take a personalized approach when representing your interests. To learn more, give us a call today to find out about how we can help you and to get answers to questions including:
- What is trust administration?
- What is probate?
- Why do I need a trust administration and probate lawyer in Long Island?
What is Trust Administration?
Trust administration occurs after one or both settlors who created a trust pass away. Unlike probate, the process is not generally overseen by the court. Still, it is important to follow the letter of the law to make sure that beneficiaries get all of the benefits that the trust was intended to provide.
Trustees are in charge of managing the trust administration process, which begins with providing mandatory notice to beneficiaries and which moves through a series of steps aimed at transferring title and/or ownership interests according to the wishes of the settlor. The necessary steps will depend upon the type of trust, the nature of the property, and the wishes of the deceased regarding how and when beneficiaries will receive their inheritances.
Trustees have a fiduciary duty to act in the best interests of beneficiaries, which is the highest duty under the law. The administration of a trust is a sacred responsibility, and the utmost in care must be taken to follow the law, follow the wishes of the deceased, and protect the interests of the beneficiaries at every step.
With the help of an experienced trust administration lawyer at Eghrari Wealth Training Law Firm, the process of managing trust property and completing the transfer of assets to beneficiaries can go smoothly and the trust will operate as it should to protect assets and to protect the interests of the heirs.
What is Probate?
Probate is different than trust administration, because it involves a formal court process that is used to wind up the affairs of the estate. Many people take steps to allow their families to avoid the probate process, using estate planning tools. This is done because going to court can be time consuming, costly, and stressful at the time of a death. In a great number of cases, however, there is at least some property that must transfer through probate- and it is the job of the executor of the will to take the necessary steps to facilitate this process.
Like trust administration, there are multiple steps to the probate process- although those steps are very different. The executor must file court paperwork to get the process started, and appropriate notice must be given to heirs. If there is a will, its validity must be determined. In some cases, valuation of property in the will is essential. A will may be contested if loved ones do not believe it should be considered valid, and the executor will need to stand up for the desires of the deceased during this process. Creditors are notified, claims are made on the estate, taxes are assessed and finally property is transferred.
Throughout this process, Eghrari Wealth Training Law Firm can be there to help. We represent executors, as well as heirs and beneficiaries who are hoping to challenge a will and argue that it should not be considered legally valid. We care deeply about making sure that the probate process goes as smoothly and effectively as possible for all our clients, because we know how devastating it is to lose a loved one.
Why Do You need a Long Island Trust Administration and Probate Lawyer?
When Eghrari Wealth Training Law Firm is your guide through the trust administration and/or probate process, you have an advocate on your side who knows the law and who can help to ensure that the affairs of the deceased are wound up as quickly as possible. To learn more about how we can help you, give us a call today.