The average person has little experience dealing with trusts and often has many questions about establishing a trust or upon becoming a trustee for the first time. Through our experience in helping people administer trusts, we find people have a variety of expectations concerning the way living trusts operate following a death. Most people know that one of the greatest benefits of having a living trust is that in many cases it can drastically reduces the costs and delays involved in passing on assets at death. A living trust accomplishes this feat by avoiding probate.
What many people don’t realize is that even without a probate there are many administrative chores that have to be completed: various legal documents need to be prepared, tax returns have to be filed, and other numerous other matters that can be both costly and time consuming. This is how Parr Law Group can help navigate the complexities of trust administration.
For additional information on Living Trust, please visit our extensive Frequently Asked Questions