Trust
Administration and Probate: Estate Succession
When
a loved one passes away, we take care of the legal issues and make
the process as easy as possible for you.
When
a loved one passes away it is a great comfort to know one's family and affairs
are in the hands of a trusted counselor at the Law Offices of
Lori Adasiewicz
. In that sad event, the Trustee, usually a family member, contacts us for
assistance with the administration of the estate.
Our clients do not worry about what step to take when, as our process
clearly outlines each stage of the process. We guide you through the maze and
ensure that you avoid the landmines through our Succession Process ...
PRE-ENGAGEMENT
GATHERING
THE ESTATE
We
hold a preliminary meeting with you to gather all of the pertinent information
about the decedent, the estate documents and financial data. We discuss the
preliminary information about the estate, its relevancy and explain the
process ahead.
EVALUATION
Before
going further, our team reviews existing estate documents, including both the
financial and property information. The number and nature of these estate
documents and any other related legal documents determine the complexity of
the estate's administration and whether you will benefit from our specialized
services.
INITIAL
VISIT
Once
we have performed our review, we meet with you to discuss the legal documents
and asset structure of the estate. We provide a detailed overview of the
estate administration process. Through in-depth conversation, we will come to
understand your family’s dynamics, needs and desires.
Based
on what we learn in these conversations, we outline our recommendations,
including all fees, deadlines, and responsibilities will be presented. We
outline the tasks that lay ahead so that family members understand each step
and the approximate time line. Together, we transform complex financial and
emotional considerations into a workable and understandable plan.
ENGAGEMENT
UNDERSTANDING
THE PROGRESSION
Upon
engagement, the Trustee officially becomes our client and signs the
administration documents. We present the Trustee's Estate Administration
Portfolio. This portfolio contains a blueprint detailing the special issues we
will undertake on the Trustee’s behalf, a detailed timeline along with
agendas for each of the successive meetings and lists of the professionals
that will participate in them, along with copies of all relevant
correspondence and other related documents.
CREATING
TRUSTEE’S AUTHORITY
We
will prepare and explain the necessary documents that the Trustee needs to
acquire the legal authority to act on behalf of the estate. After signing
these documents and with this authority in place, the Trustee is empowered to
send the required to beneficiaries, family members, financial institutions,
and governmental agencies. A tax and accounting professional may be engaged
for the process of gathering, charting and determining the character and value
of each asset, as well as addressing the applicable income and estate tax
issues.
 ANALYZING
AND TESTING
We
then meet with the accountant and financial advisor to create a plan for the
allocation, distribution or division of the assets. The plan must balance the
dictates of the estate's documentation, the Trustee's fiduciary objectives,
tax impact and the family's desires.
PRESENTING
THE PRELIMINARY PLAN
We
then meet with the Trustee to go step-by-step through the preliminary plan
design and record every reaction, critique and idea in order to further tailor
the plan. The collaborative team
of advisors explains the tax and practical ramifications of the various
options.
BUILDING
THE PLAN
The
Preliminary Plan is then enhanced by the Trustee's input. Through the use of
narratives, graphs, charts, models, and schedules the team guides every aspect
of the Estate Administration Plan into a final, easy-to-understand form.
IMPLEMENTATION
We
review and confirm all aspects of the plan with the Trustee who signs
documentation in order to begin the implementation process. We will assign
every detail of the plan to the appropriate advisors for immediate action.
Each advisor provides the Trustee with detailed plans and an implementation
schedule.
CONFIRMATION
Finally,
then, we provide the Trustee with a final report showing that the process of
administering the estate has been successfully completed, and we will answer
all outstanding questions. We review the possible estate planning needs of the
beneficiaries and others involved. Our
extensive network of independent attorneys means that we can help
beneficiaries, no matter where they are located in the
United States
and several foreign counties.
We
would be honored to serve your family
through
the succession process.
Please contact our office for more information
and
an initial visit.
For
specific information about California probate, including statutory fee rates, click
here.
|
