Social Security will continue to send out benefit checks until they are notified of an individual’s death. The executor/spouse/trustee should contact the local Social Security Administration office and notify them of the death, or if a benefit check is received, send it back with a letter notifying … [Read more...] about What do I do about Social Security?
How do I transfer the car(s) into my name?
If you are a relative of the deceased, this is simple in most states. To transfer the title of vehicles owned by the deceased, simply take the death certificate to the DMV, and perform the transfer, paying whatever fees they require. If not a relative, bringing along the will and or any trust … [Read more...] about How do I transfer the car(s) into my name?
Can I pick and choose what assets go into the “B” trust?
The answer depends upon the language of the trust document. Certain trusts include “pick and choose” language that allows trustees to selectively place assets into the “B” trust. … [Read more...] about Can I pick and choose what assets go into the “B” trust?
I thought that a living trust avoids probate and attorney fees. Why do I have to pay more fees?
While having a living trust can significantly reduce costs compared to probate, there is still a considerable amount of work to be done in properly administering even a simple living trust. The services of an attorney are required, and that person or firm should be compensated fairly for their … [Read more...] about I thought that a living trust avoids probate and attorney fees. Why do I have to pay more fees?
Does the Trust Administration process take a long time?
To summarize the process, trust administration can be broken into five basic steps: Inventory assets Determine estate tax Division of trust assets File the Federal and State tax forms Distributions to beneficiaries Although the trust administration process seems relatively … [Read more...] about Does the Trust Administration process take a long time?
What is Probate Court?
Probate begins and ends with the special Probate Court set up in each state to handle estate issues. (Sometimes known as the Orphan’s or Chancery Court in certain states.) All actions taken regarding the estate are accountable to this court, and must be noted and reported regularly. This court is … [Read more...] about What is Probate Court?
