Probate & Trust Administration in Omaha
Setting up an estate plan is one aspect, but administering the plan when
the individual or first spouse passes away is a separate aspect. The administration
process does differ based upon whether it was a Will-based plan or Trust-based plan.
Probate administration is the all-encompassing name for the administration
of one’s estate at death through the courts. This process takes
place both where there is a Will and where there is no estate plan in
place. It is the responsibility of the Executor or personal representative
of the estate to make sure that the estate is faithfully probated. It
is a complex process, and almost always requires the Executor hire an
attorney to facilitate it. A good attorney will guide the Executor through
the confusion and delays that accompany probate.
Trust administration generally describes the running and managing of a
Trust from day-to-day and is handled by the Trustee of the Trust. Some
of the Trustee’s duties involve managing the assets, making investments,
and watching out for the best interests of the beneficiaries of the Trust.
With all of these responsibilities, the Trustee will occasionally need
to consult an attorney to ensure he or she complies with the laws and
the terms of the Trust. This is especially true upon the death of the
creator of the Trust. During this transition, the Trust will need to make
several different accountings, all of which are made easier when a skilled
attorney is at hand. Properly done, Trust administration is significantly
quicker, easier, and less expensive than probate administration.
Goosmann Law can assist Executors and Trustees in probate and Trust administration,
walking you through the process as efficiently as possible.
Probate and Trust Administration Library