• Menu
  • Skip to right header navigation
  • Skip to main content
  • Skip to secondary navigation
  • Skip to primary sidebar
  • Skip to footer

Before Header

Call us today for help!  (631) 265-0599
  • Facebook
  • Instagram
  • LinkedIn
  • Pinterest
  • Twitter
  • YouTube

Eghrari-Logo

Long Island Elder Law & Estate Planning

  • Home
  • Who We Are
    • About Our Firm
    • Meet Our Team
  • Resources
    • Client Resources
      • Definitions
      • Docubank
      • Elder Law Resources
        • Brentwood Elder Law
        • Central Islip Elder Law
        • Commack Elder Law
        • Hauppage Elder Law
        • Smithtown Elder Law
      • Estate Planning Resources
        • Estate Planning Check Up
        • Estate and Gift Tax Figures
        • Estate Planning Techniques
        • Estate Planning Worksheet
        • FREE Estate Planning Seminars
        • Long Island Estate Planning Resources
      • New York Medicaid Resources
        • Medicaid Planning Worksheet
      • Nursing Home Resources
      • Probate Resources
        • Brentwood Probate
        • Central Islip Probate
        • Commack Probate
        • Hauppage Probate
        • Smithtown Probate
        • Suffolk County Probate Resources & Checklist
      • Presentations
      • Retirement Planning Checklist
      • Trust Administration Resources
    • Elder Law Reports
    • Frequently Asked Questions
      • Business Planning
      • Estate Planning
      • Families Without an Estate Plan
      • Incapacity Planning
      • LGBTQ Estate Planning
      • Medicaid Planning
      • Probate
      • Trust Administration
      • Trust Administration & Probate
      • Wills and Trusts
    • Reports
  • Estate Planning
    • Asset Protection & Business Planning
    • Estate and Gift Tax Figures
    • Estate Planning Services
    • Family-Owned Businesses
    • Incapacity Planning
    • Legacy Planning
    • SECURE Act
    • Special Needs Planning
    • Trust Administration & Probate
    • Young Families
  • Elder Law
    • Coping With Alzheimer’s
    • Emergency Medicaid & Nursing Home Planning
    • Hospice Care
    • Medicaid Planning
  • Areas We Serve
    • Long Island
    • Nassau County
      • Oyster Bay
    • Suffolk County
      • Brentwood
      • Central Islip
      • Commack
      • Hauppauge
      • Smithtown
  • Blog
  • Contact Us

Mobile Menu

  • Home
  • Who We Are
    • About Our Firm
    • Meet Our Team
  • Resources
    • Client Resources
      • Definitions
      • Docubank
      • Elder Law Resources
        • Brentwood Elder Law
        • Central Islip Elder Law
        • Commack Elder Law
        • Hauppage Elder Law
        • Smithtown Elder Law
      • Estate Planning Resources
        • Estate Planning Check Up
        • Estate and Gift Tax Figures
        • Estate Planning Techniques
        • Estate Planning Worksheet
        • FREE Estate Planning Seminars
        • Long Island Estate Planning Resources
      • New York Medicaid Resources
        • Medicaid Planning Worksheet
      • Nursing Home Resources
      • Probate Resources
        • Brentwood Probate
        • Central Islip Probate
        • Commack Probate
        • Hauppage Probate
        • Smithtown Probate
        • Suffolk County Probate Resources & Checklist
      • Presentations
      • Retirement Planning Checklist
      • Trust Administration Resources
    • Elder Law Reports
    • Frequently Asked Questions
      • Business Planning
      • Estate Planning
      • Families Without an Estate Plan
      • Incapacity Planning
      • LGBTQ Estate Planning
      • Medicaid Planning
      • Probate
      • Trust Administration
      • Trust Administration & Probate
      • Wills and Trusts
    • Reports
  • Estate Planning
    • Asset Protection & Business Planning
    • Estate and Gift Tax Figures
    • Estate Planning Services
    • Family-Owned Businesses
    • Incapacity Planning
    • Legacy Planning
    • SECURE Act
    • Special Needs Planning
    • Trust Administration & Probate
    • Young Families
  • Elder Law
    • Coping With Alzheimer’s
    • Emergency Medicaid & Nursing Home Planning
    • Hospice Care
    • Medicaid Planning
  • Areas We Serve
    • Long Island
    • Nassau County
      • Oyster Bay
    • Suffolk County
      • Brentwood
      • Central Islip
      • Commack
      • Hauppauge
      • Smithtown
  • Blog
  • Contact Us

Top Reasons Your Heirs Would Prefer Trust Administration to Probate

Trust administration is an alternative process by which assets can be transferred after a person dies. While assets typically have to transfer through the probate process in Surrogate’s Court in New York, this does not have to happen if you have made an estate plan to allow assets to transfer outside of this process. While there are different approaches to transferring wealth outside of probate, creating a trust can be one of the best approaches because the assets that you put into the trust can transfer through the trust administration process.  trust administration

Eghrari Wealth Training Law Firm can help you to decide if you should create a trust and, if so, can help you through the trust creation process so you can ensure your trust is legally valid and accomplishes your goals.  We can also provide assistance to those whose loved ones have passed away after creating a trust. We can guide you through the trust administration process to facilitate the timely and effective transfer of trust assets to new owners.

If you think that you may wish to create a trust to spare your loved ones the difficulties of probate, you should give us a call today. You can also read on to learn about some of the top reasons why your heirs or beneficiaries would likely prefer to have their inheritance transfer through the trust administration process than through probate. This can help you decide if trust creation is right for you.

The Trust Administration Process is More Private

Your heirs or beneficiaries may not want everyone to know that they have received an inheritance. They also may not want people to know what specific inheritance they received. It can sometimes be embarrassing or uncomfortable for people to know how assets were divided up among family members or how much wealth was passed on because of a death. Unfortunately, because the probate process takes place in court, the proceedings typically become court record and can be publicly available except in the limited number of cases where records are sealed.

The trust administration process, on the other hand, takes place outside of court and is a private process facilitated by the trust administrator so there are no worries about privacy concerns being triggered by the proceedings.

The Trust Administration Process Can Be Less Expensive

The costs of probate can be very high. Investopedia estimates probate costs at around three percent to seven percent of the value of an estate. This is a lot of money, and it can even be more expensive if there are problems such as the will being contested or assets not being findable until an expert is hired. Your loved ones likely want to inherit as much as possible rather than having money spent on probate costs. Since the trust administration process is much less expensive in most cases, your heirs or beneficiaries will likely appreciate if you take steps to ensure that assets can transfer in this less expensive way.

The Trust Administration Process Can Be Faster

The process of going through probate is time consuming and stressful. Investopedia estimates the probate process takes around a year. Your loved ones may have to go to court hearings during this time and they will be left waiting for an inheritance. The trust administration process allows for assets to transfer more quickly so your family can receive their inheritance, grieve your death, and begin to move forward with their life.

Getting Help from a Trust Administration Lawyer

A trust administration lawyer at Eghrari Wealth Training Law Firm  can guide you through the entirety of the trust creation process, from helping you to decide if a trust is right for you to choosing the right kind of trust to making a legally valid trust document and transferring assets to your trust. If you have decided that you want to provide your heirs or beneficiaries will all of the benefits that come with transferring assets through trust administration instead of probate, you can give us a call. We can also help if you are going through the trust administration process now after your loved one has passed.

To find out more about all of the ways in which we can help you with legal issues related to trusts and to trust administration, join us for a free seminar. You can also give us a call at (631) 265-0599 or contact us online at any time for personalized help.

  • Author
  • Recent Posts
Eghrari Wealth Training Law Firm
Mark S. Eghrari is an attorney in private practice in Smithtown, New York. He has been in practice since 1988. Mark S. Eghrari provides extensive estate and tax planning services to individuals and businesses. Mr. Eghrari’s primary focus is helping clients avoid probate, minimize or eliminate Federal and State Estate taxes and protect their assets from the high cost of nursing care, if they become ill.
Latest posts by Eghrari Wealth Training Law Firm (see all)
  • Are You Entitled to Veterans Aid & Attendance? - May 24, 2023
  • Top 10 Retirement Planning Tips - May 17, 2023
  • What Can I Do to Prevent Sibling Disputes? - May 3, 2023

About Eghrari Wealth Training Law Firm

Mark S. Eghrari is an attorney in private practice in Smithtown, New York. He has been in practice since 1988. Mark S. Eghrari provides extensive estate and tax planning services to individuals and businesses. Mr. Eghrari’s primary focus is helping clients avoid probate, minimize or eliminate Federal and State Estate taxes and protect their assets from the high cost of nursing care, if they become ill.

Previous Post: «Smithtown estate planning lawyers Smithtown Estate Planning Lawyers Explain Key Reasons to Make Advanced Directives
Next Post: 5 Things Long Island Trust Lawyers Want You to Know Long Island trust lawyers»

Primary Sidebar

Blog subscription

Subscribe to our Blog for the latest estate planning news and updates!

  • This field is for validation purposes and should be left unchanged.

Follow Us

  • Facebook
  • Instagram
  • LinkedIn
  • Pinterest
  • Twitter
  • YouTube

Where We Are

Eghrari Wealth Training Law Firm
50 Karl Avenue, Suite 202
Smithtown, NY 11787
Phone: (631) 265-0599
Fax: (631) 265-0754

See Larger Map
Get Directions

Office Hours

Monday9:00 AM - 5:00 PM
Tuesday9:00 AM - 5:00 PM
Wednesday9:00 AM - 5:00 PM
Thursday9:00 AM - 5:00 PM
Friday9:00 AM - 2:00 PM

Map

map for Eghrari Wealth Training Law Firm office

Footer

Office Location

Eghrari Wealth Training Law Firm
50 Karl Avenue, Suite 202
Smithtown, NY 11787
Phone: (631) 265-0599
Fax: (631) 265-0754

See Larger Map
Get Directions

Office Hours

Monday9:00 AM - 5:00 PM
Tuesday9:00 AM - 5:00 PM
Wednesday9:00 AM - 5:00 PM
Thursday9:00 AM - 5:00 PM
Friday9:00 AM - 2:00 PM

Sign Up for Our Newsletter

Sign up to get our free estate planning newsletter for all of our tips and resources

  • Disclaimer
  • Privacy Policy
  • Sitemap
  • Contact Us

Site Footer

ATTORNEY ADVERTISEMENT

Copyright © 2023 American Academy of Estate Planning Attorneys · All Rights Reserved