ESTATE Administration & Probate Planning
Estate Administration and Probate is the process by which the assets, left by the decedent, are transferred upon death. If a person dies with a will, the will names an executor. If a person dies without a will, the court must appoint an administrator. While the duties are the same, the process may differ between the two appointments. We can guide the executor or the administrator through the process of locating and accounting for assets, paying off debts, settling inheritance and estate taxes, and finally paying the remaining funds to the estates beneficiaries. The purpose of setting up an Estate Plan is to preserve as much wealth as possible for the intended beneficiaries, which requires administering the estate in the way intended to meet that purpose.
At the Law Office of Scott D. Bloom, we counsel our clients through the challenges faced when planning the succession of an estate. Whether it by the utilization of a will or a trust. We understand how to create and administer your trusts and we are available to give advice on federal and state laws, as well as educate you on the obstacles and pitfalls to avoid when attempting the transfer of gifts, community property, businesses control, and charitable interest trusts, to name just a few areas. Please review our page dedicated to Wills, Trusts & Powers of Attorney for additional information.
If you have a need for help with Estate Administration & Probate, need help with closing an estate or have any additional questions, please feel free to contact us today!