What To Know About Trust Administration

Trust administration is a private process that does not involve the court system. The decedent appoints a trustee to oversee asset distribution to the beneficiaries. The trustee also resolves creditor claims, tax issues, and property concerns. It involves discrete processes that won’t become public records. Having a living trust preserves the privacy of the family and beneficiaries. The latter may also be required to sign releases. To prevent any potential conflicts down the line, it’s important for them to confirm that they have received their portion. You must fund the trust to avoid having to go through probate. You can transfer ownership of assets to the trust so that they are no longer considered part of the probate estate. This ensures that you can distribute assets accordingly without the probate court’s involvement. The Estate Plan 135 San Lorenzo Ave Suite #750 Coral Gables, FL 33146 (305) 677-8489 https://www.TheEstatePlanFL.com/