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PROBATE
AND TRUST ADMINISTRATION
At Isenhour Bleck we
can assist you in handling the administration of an estate when a loved
one dies. The first step we take is to determine if a probate of the
estate will be required. In
some cases, depending upon the size of the estate and the assets in the
estate, a probate may not be necessary.
What is a probate
and when is it required?
A probate is the
court-supervised administration of the estate of a deceased person to
ensure that the deceased person’s property is distributed according to
the terms of the Will or by a statutory scheme if there is no Will.
When there is a Will, the appointed Personal Representative
petitions the court to be confirmed as the person to carry out the terms
of the Will. In cases where
there is not a Will, the court will appoint a person, called an
Administrator, to administer the estate.
A probate is required
when there is no other way to access the assets owned by the deceased
person. In cases where a
married person dies and assets are owned jointly with the surviving
spouse, a probate may not be required because the spouse is able to access
the assets as a joint owner.
In Washington State
probates are not time consuming and typically are completed in less than a
year. And, because our state
has minimized judicial involvement in the probate process, probates cost
much less here than in some other states. During our first meeting we will
give you an estimate of the legal fees that can be anticipated to complete
the administration of the estate.
We will guide you through the requirements to administer the estate
properly, including dealing with creditor’s claims and estate and income
tax issues. Our goal is
to take to burden off of you during the difficult time when a loved one
dies.
Trust Administration
If you are appointed as
the trustee of a trust established in a Will or a trust established during
a person’s lifetime, you should get legal advice on your duties and
responsibilities as Trustee. At
Isenhour Bleck we frequently advise trustees on the following:
- Specific
requirements contained in the trust or will document;
- Tax
laws applicable to trusts;
- Accounting
requirements as trustee;
- Specific
requirements for the trustee of a Special Needs Trust to
protect the trust beneficiary’s eligibility for government benefits.
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