When leaving property and assets to surviving heirs in a Trust or a Will, it’s important to understand that those who are going to inherit the property and assets do not receive their inheritances immediately after a loved one passes away. It may take quite a while, especially if there is only a Will or no documents in place. Both probate and trust administration involves various steps that must be completed to ensure property and assets are distributed correctly.
At the Law Offices of Andrew Cohen, you’ll find an Encino probate and trust administration attorney who understands the complexity of these processes. Our job is to guide you through each and every step to ease any worries you may have.
Understanding Probate in Encino, CA
The specifics of a probate process in California can vary on a case-by-case basis. Whoever is named executor in a will is typically responsible for initiating probate. They might have to:
- File the will and a “Petition for Probate” document
- Give formal notice to beneficiaries and creditors
- Prove the will is valid
- Ensure creditors are paid
- Upon being officially appointed executor by a court once a will is deemed valid, gather assets and overseeing their distribution
- Value business
- Sell property
This may all seem overwhelming, but it doesn’t have to be. Anyone involved in the probate process should understand they do not need to handle these tasks without assistance.
On the contrary, it’s a good idea to enlist the help of a probate lawyer in these circumstances. At the Law Offices of Andrew Cohen, an Encino probate attorney can simplify the process while also answering any questions you may have about timelines, costs, and other relevant factors.
Trust Administration in Encino
Someone who wishes to leave assets and property to others after they pass can help their beneficiaries avoid probate altogether by placing these assets into a trust. This is an excellent alternative to a will that is necessary to consider when you make plans for your loved ones’ futures.
Potential benefits of a trust include (but are not limited to) the following:
- Avoiding or reducing estate taxes
- Allowing loved ones and other beneficiaries to receive their inheritances more quickly than they otherwise would
- Ensuring the disposition of finances and property is handled in an orderly manner
- Protecting beneficiaries and handling assets on their behalf
Just as a will may name someone as executor, when an individual places assets and property into a living trust, they will name someone as trustee. This person is responsible for the administration of property within a trust.
A trustee, like an executor, may approach their duties with some sense of intimidation when they are tasked with distributing assets and property according to the wishes of someone who has passed away. If you are a trustee, strongly consider working with an Encino trust administration attorney who can help you manage this responsibility with ease.
Contact an Encino Probate and Trust Administration Attorney Today
Don’t burden yourself with the task of distributing property and assets after a death on your own when legal assistance is available. To learn more about what a qualified Encino probate and trust administration attorney at the Law Offices of Andrew Cohen can do for you, contact us online or call us at 661-481-0100.
