Probate and Trust Administration
At James F. Dunneback, P.C., we always advise our clients, and the general public that thorough preparation will ultimately lead for an easier transition in the event of the passing or incapacitation of a loved one. However, we also recognize that unexpected events can also occur, and in those times, our firm has spent over 30 years in becoming experts in the area of probate and trust administration.
For families wishing to avoid issues of probate in the event of the passing of a loved one, our firm is able to advise on the establishment of a trust. Trusts are entities into which a person will place the ownership of their real property, which they own and maintain the capability to manage. At the time of that person’s passing, the trust is passed on to the heirs, who then maintain ownership of the trust.
Types of trusts can include living trusts, charitable trusts, life insurance trusts, asset protection trusts, and educational trusts. Trusts are different from wills in that property, assets or other items to be passed on are placed into a separate, manageable entity, whereas a will simply passes ownership of these items onto the heirs. Also, the grantor is able to set rules for who will receive the assets, when, and whether any conditions must be met in order to transfer ownership of the trust.
Probate is the process of administering an estate to beneficiaries without the assistance of a will or trust. While our attorneys are well-practiced in the courtroom, we focus our efforts on resolving issues for our clients before it gets to the point where litigation is necessary. We work with our clients in document review, negotiation of rights and responsibilities, and achieving closure.
To discuss questions you may have on probate or trust matters, contact a member of James F. Dunneback, P.C. today.