Post Death Trust Administration
The administration of a Revocable Trust during the lifetime of the person(s) who created the trust (trustor(s)) involves management of the trust assets by the trustor(s), much as they managed these assets before the Revocable Trust was created.
The administration of a Revocable Trust upon the death of the trustor(s) involves many of the same issues that are dealt with in a probate proceeding including sending out statutory notices, identifying and taking inventory of trust property, paying your debts, organizing trust assets for distribution, identifying your heirs and beneficiaries, paying any taxes you might owe and distributing the assets of the Revocable Trust to the beneficiaries. The administration of a Revocable Trust does not proceed under court supervision, normally is less expensive than a probate proceeding, remains confidential and typically moves more quickly than a probate proceeding. It is a process that also allows for a simpler process for partial or preliminary distributions.
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