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A trust administration is NOT a court-supervised process,yet its ultimate goal is also the transfer of property from an individual who has died (the �decedent”) to that individual�s beneficiaries who are identified in the living trust designate.
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Once everything has been distributed,you will submit receipts and records of everything to the court and then ask for the estate to be closed and to be released from the role of executor.
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You will need to file a request in the county where the deceased person lived at the time of their death.
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Once everything has been distributed,you will submit receipts and records of everything to the court and then ask for the estate to be closed and to be released from the role of executor.
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Notice must be given by first class mail or by personally delivering a copy to each person or entity at least 15 days prior to the hearing Each person should receive a copy of the “Notice of Petition to Administer Estate” showing the hearing date information Some assets are distributed to heirs by the court (probate assets) and some assets bypass the court process and go directly to your beneficiaries (non-probate assets) Citrus Heights Probate Law Estate Planning Lawyer.
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You’ll also need to pay all applicable taxes,as well as file a final income tax return on the estate.
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With all claims,debts and expenses paid,you’ll give the remaining property to the rightful heirs and/or as the will directs system.
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Also review any outstanding bills and debts and decide whether/how they must be paid Our Law Practice Areas Citrus Heights Probate Law Then the court will schedule a hearing to approve the executor (or hear objections from other parties).
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In addition to the petition,you will need to file a valid will,if one exists,and the death certificate include Citrus Heights Probate Law Estate Planning Lawyer include (916) 596-3435.
In the case of a small estate,or if the decedent left his assets in trusts or gifted them prior to his death,probate may not be necessary.