DeAngelis Legal obtained Letters of Personal Representative for a trustee who identified an asset that was not transferred to the trust. The deceased participated in his employer’s stock option plan. Unfortunately, the plan failed to name a beneficiary and the employer would not transfer the asset without the Letters of Personal Representative. DeAngelis Legal prepared [...]
DeAngelis Legal assisted two new clients to open informal probate to transfer assets out of the deceased person’s name. In both situations, the deceased person failed to transfer the asset to their trust and the account custodian (one a financial institution and the other a title company) required “Letters of Personal Representative” before they would [...]
Assisted successor trustees with the administration of a trust after the death of both spouses. What should have been a simple administration was complicated by poor planning, the surviving spouse’s failure to follow the terms of the trust and her failure to provide remainder beneficiaries with important information, such as where the original documents are [...]
Three years! After three years, we completed the administration of a client’s deceased aunt’s estate and trust. What should have been a relatively simple administration turned into a lengthy probate. The administration was not contested but was complicated by the aunt’s lack of financial records, failure to title assets in the name of her trust, [...]
Trust Administration Administrating a trust post-death should be as easy as your successor trustee accepting the responsibility for the trust, taking control of the assets, satisfying creditors and following the trust’s distribution provisions. Unfortunately, we are seeing longer administration times, most of which could have been greatly reduced with minimal upfront planning. Recent examples we [...]
