When a person passes away, his or her estate must go through a probate process if a will is the legal document guiding the decedent’s wishes. Probate can be time-consuming, complicated and possibly costly. When a trust has been established, all of the assets contained in the trust can more easily pass from the decedent to the beneficiaries as specified in the trust.
Regardless of whether or not a will or a trust exists, the decedent’s assets can range from real estate to jewelry to prized family possessions and more. While still in mourning, it can be a lot to ask of family members to think clearly and make sure they are on board with carrying out the instructions of a will or a trust.
In cases like this, it makes sense to hire an experienced trust and will attorney like David Stimpson. Attorney Stimpson brings years of experience to his role overseeing the management and disbursement of estates large and small.
As part of his duties in assisting family members, Attorney Stimpson may be called upon to perform any number of tasks:
- Notifying government agencies of the death, including the Social Security Administration, insurance providers, creditors, and banking institutions.
- Locating and inventorying assets as outlined in the will or trust and getting them appraised if needed
- Filing appropriate paperwork with local probate courts
- Contacting will and trust beneficiaries and acting as a go-between in case any disagreements arise
- Paying bills, managing estate bank accounts and investments and satisfying any debts owed by the estate
- Working with the Internal Revenue Service to make sure any tax issues are proactively resolved
- If not designated as the executor of the estate, then it’s imperative that the attorney stays in close contact with the executor as individual issues are resolved
- Transferring assets to beneficiaries as outlined in the will or the trust
Generally speaking and unless there are major complications or the will or trust is contested in some way, it will take about six months to handle all of the tasks associated with discharging an estate.
Retaining the services of Attorney Stimpson will ensure that all of these tasks remain on track and are accomplished with compassion for all parties involved in the will or trust process.
Stimpson & Associates serves clients in Ann Arbor, Washtenaw County and surrounding Michigan communities.