Successor Trustee In An Estate

What sorts of trouble do successor trustees often have when dealing with the estate of the recently deceased?

The estate is distributed through a probate court or a trust when someone dies. A successor trustee fills the role of the recently deceased person and distributes the assets according to what is laid out in the will (or if there is no will, then state law determines how the assets are distributed).

Estate In A Probate

One of the most common issues is that a deceased person's estate is essentially in limbo until a court of law can formally administer it. Depending on when the individual passed and how quickly their affairs were in order, this might not be resolved for months after they've died.

In the meantime, any financial transactions within an estate are handled by a probate judge and the estate's successor trustees—a small group of individuals responsible for overseeing it until it's resolved.

The most common problem with successor trustees is that they usually need to prepare for their responsibilities. This shouldn't be surprising: they're usually family members or close friends in mourning, so they're more concerned with tending to their affairs than formalizing their loved one's legacy. Because of this, they often need to fully understand what their role entails and gain experience managing an estate or taking care of its financial needs. As such, they might make mistakes that could cause problems for everyone involved.

Estate Attorney Free Consultation

If you have any questions or in need an Estate Attorney, we have the Best Attorneys in Utah. Please call this law firm for free consultation.

We help you with Estate Planning, Wills, Trusts, Power of Attorney, Health Care Directive, Estate Administration, Probate and More

Parklin Law - Estate Planning

5772 W 8030 S, # N206

West Jordan UT 84081

(801) 618-0699

https://parkin-law.business.site/

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Disclaimer: This is not legal advice and is simply an answer to a question and that if legal advice is sought to contact a licensed attorney in the appropriate jurisdiction.

Location: Grantsville, UT 84029, USA

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