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 … [Read more...]
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 … [Read more...]
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...]
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 … [Read more...]
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 … [Read more...]