Comparing Costs of Post-Death Administration: Fully Funded Trust Versus Probate Estate
Author: Patrick S. Sylvester.
Source: Volume 24, Number 04, Summer 2007 , pp.291-299(9)
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Abstract:
Too often, living trust seminar attendees are misguidedly made to think that if probate is avoided, there is no need for an attorney to help with post-death administration tasks. The attendees are often told by the seminar sponsor that probate is “very expensive,” and the way to avoid all of the associated expenses is to set up a fully funded living trust. A fully funded living trust will achieve probate avoidance, but that does not mean that there are no tasks to be performed after the death of the trust-maker. These tasks must be performed by the post-death trustee, often with the assistance of a trust and estate attorney.Keywords:
Affiliations:
1: Sylvester Law Firm.