Trust & Probate Administration

It is certainly a tough time for everyone when a loved one passes away, and we strive at Insight to make that transition as easy as possible for everyone involved. Beyond the burial, there are many matters that will need immediate attention in order to settle a loved one’s estate. There is paperwork, financial accounts, insurance policies and retirement plans as well as real and personal property to deal with. Paying special attention to beneficiary designations and how assets are titled is crucial during this time, and Insight can help ensure the estate is properly administered.

In the absence of a Will or Trust, property titled in the decedent’s individual name will be settled under state intestacy laws. As the overseer of a decedent’s estate, the personal representative or trustee has a duty to settle and the duties of a personal representative or trustee include but are not limited to:

  • Petition the appropriate court for authority to settle the estate
  • Take possession or control of estate assets
  • Determine who inherits estate assets and at what value or percentage
  • Value or appraise assets
  • Prepare an inventory of property of the estate
  • Manage, protect and preserve the estate until distribution or liquidation
  • Notify and pay applicable creditors
  • File the decedent’s final tax return
  • Pay estate taxes, if any
  • Prepare a final accounting
  • Distribute the estate

Insight can help represent the personal representative or trustee through the administration process. The settling of one’s affairs is a time sensitive and demanding process. There is much to know and even more to do. We welcome you to contact us or join us at an upcoming workshop to learn more.