The Law Offices of Geoff Wiggs Will Make Probate & Trust Administration Easy
Losing a loved one is hard enough. Let us help you gain access to the assets you’ve rightfully inherited.
It can be difficult to figure out whether your loved one’s estate is subject to formal probate or not, even if your loved one has a will. It is best to contact an attorney, like Geoff Wiggs, to help make that determination.
What is Probate?
According to the California Courts System, probate means that there is a court case that deals with:
- Deciding if a will exists and is valid;
- Figuring out who are the decedent’s heirs or beneficiaries;
- Figuring out how much the decedent’s property is worth;
- Taking care of the decedent’s financial responsibilities;
- Transferring the decedent’s property to the heirs or beneficiaries.
Certain assets, like retirement accounts, life insurance, and sometimes bank accounts and real estate qualify for a simplified transfer process, but it is possible that not all assets will.
If your loved one’s assets total $166,250 or more, it is likely that a probate case and an attorney will be necessary.
At the Law Offices of Geoff Wiggs, we are here to help you every step of the way. Click here to read answers to some of our most frequently asked probate questions.
What is Trust Administration?
Trust administration is the process of managing the assets and liabilities in a person’s estate. An estate refers to the property and assets left behind after death.
The trust administration process is critical in ensuring that beneficiaries receive the assets that they were promised in a will or awarded in a probate court. It is, however, a meticulous, time consuming process.
A trust administrator must keep extremely detailed records and notes, as they are responsible for the property in question during the administration and potential probate process. As such, they must ensure that all debts are paid and all property is transferred to the correct beneficiary. There are consequences for not managing the estate correctly.
Take the workload off your shoulders with The Law Offices of Geoff Wiggs.