My mom and dad were well prepared and established a trust for their finances. My Dad died in March; my sisters and I were with my Mom earlier as she had a massive stroke. She died without pain and with us at the bedside.
We are now calling people and setting up the funeral. Just wondered about next steps: do we need to have an attorney if there is a trust and no contest to the will? An accountant? Anyone else been through this who can advise as to whether or not we need a professional for this? And if so, which kind?
Even if everything was indeed titled in the name of the trust, the complex legal language of a trust can be difficult for a layperson to understand, so having an attorney who specializes in wills and trusts (estate planning) read through the document and explain to you what needs to be done will most likely be necessary for all but the very simplest of trusts.
Now that both parents have passed, the Trust needs to do its work and move assets to those designated in the Trust. The law firm that prepared the trust will know what to do and how to do it correctly. You need to contact them so that the remaining Trust assets are moved to you and your siblings correctly, all taxes are paid, and the Trust is closed. It will cost to used the law firm, and that is money well spent.
The estate lawyer will help you, combine the wills and the trust and make distributions to all beneficiaries. His fee is well worth the trouble. Don't hesitate.
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