When a loved one passes, their Executor or Trustee must handle the transfer of the deceased assets to the intended beneficiaries.
This process is accomplished through a court process called probate or, if the decedent's assets were titled in a trust, the assets owned by the trust will typically be distributed to the beneficiaries of the trust without court involvement.
When death occurs, the first goal for Robert Solliday at Solliday Law will be to protect the assets for the surviving spouse and for beneficiaries. Regardless of whether we are dealing with a probate or trust administration, the distribution process generally involves certain phases. These phases include inventorying documents and finances, valuating the assets, redeeming insurance, annuity, and retirement policies, paying expenses and claims, tracking income, paying taxes, and ultimately, distributing assets to the beneficiaries or heirs.
If a loved one has recently passed away, and you have questions about what to do next, contact Solliday Law.