Trust and estate administration refers to the management and distribution of assets and properties held in a trust or estate after the death of the owner. This process involves ensuring that the assets are distributed to the intended beneficiaries according to the wishes of the deceased, while also complying with legal and tax requirements. Trust and estate administration may include tasks such as filing legal documents, managing and distributing assets, resolving disputes among beneficiaries, ensuring compliance with tax and legal requirements, and providing guidance and advice to trustees or executors. Trust and estate administration is typically overseen by a lawyer, financial advisor, or other professional with expertise in this area. The goal of trust and estate administration is to ensure that the assets are distributed in an orderly and fair manner while minimizing costs and maximizing the value of the estate for the beneficiaries.
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Probate is not always an efficient process. However, it is the way to properly dispose of an individual’s property after they have died. It gives the necessary stamp of approval that the will is legitimate, and the executor has been confirmed.
The annual BEST OF OMAHA voting is now open for the 2020 award season. We were privileged to be the First Place Winners in the category of Estate Planning for 2019, and we’d love to do it again with your help! Being BEST OF OMAHA fits perfectly with our mission and core values. Our MISSION is to help families design, share and preserve their legacy for future generations, through careful legal planning and lifetime relationships. Our core values include: • Legacy – our work is significant because every client’s legacy is significant • Integrity – we honor our word • Excellence – we hold ourselves accountable to the highest standards of service • Family – families are at the center of everything we do We strive to be the best, not only in Omaha but throughout the eight states where we serve clients with estate, business, and elder law planning solutions. Would you be so kind as to vote for us for the next Best of Omaha event? You can register here: http://bestofvoting.com/register.aspx Thanks very much for your support!
No one marries with the intention of getting divorced, but about half of all marriages in the U.S. will end in divorce. Divorce and second marriages can complicate the process of estate planning and present a number of challenges.
The more you read the trust, the more familiar you will become with the key provisions.
The key to avoiding bitter conflict among heirs, is to have candid discussions well before the reading of the will.
When a financially comfortable loved one departs, a bevy of tax issues can come into play.
Do not put off finalizing and signing your estate planning documents, just because you have reached an impasse on who to name as trustee.
Very often, a lack of planning and insufficient assets leaves families with few options for their loved one’s final years of care, which is likely to be expensive.
The best way to describe the job that an elder law attorney does, would be that they work to advocate for senior citizens and their loved ones.
Here are a few things to avoid on your way to an appointment with a qualified estate planning attorney to discuss your own estate plan, and a couple of others to keep in mind once you get there.
