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Category Archives: Trust Administration

Do all Revocable Trusts Avoid Probate?

Do all Revocable Trusts Avoid Probate?

When you have a revocable trust, does that always mean that your estate will avoid the probate process when you die? You may be surprised to learn that the answer is “No.” Why is that? First, let’s review what the probate process is. Many people think that “probate” means “taxes.” Probate is not a tax. […]

Joint Accounts Don’t Count Towards Bequests

Joint Accounts Don’t Count Towards Bequests

“Stan” created a trust that first distributed the first $2 million to his wife, “Wendy” before making $500,000 bequests to each of his two daughters, Doris and Diane. When Stan created his trust, he considered the bequest to his wife to be enough for her to live off of the rest of her life, also […]

Death & Debts – Five Things Surviving Family Members Need to Know

Death & Debts – Five Things Surviving Family Members Need to Know

When a loved one dies, the last thing family members want to do is field calls from debt collectors. If you are the personal representative (executor) of the estate or trustee of your love one’s revocable trust, chances are you will have to deal with your loved one’s debts and creditors. But is it your […]