Trust Administration & Probate

Trust Administration

Following the death of your loved one, assets titled in the name of that person’s trust will pass to the beneficiaries according to the terms of the trust document. Trust Administration is a post-death process consisting of the following steps:

  • Appointment of successor trustee
  • Gathering and valuing of all trust assets
  • Paying trust debts and administration expenses
  • Filing trust tax returns
  • Distributing the remaining trust assets to the named trust beneficiaries

Unlike the probate process, there is generally no court involvement with Trust Administration. The administration process typically takes anywhere from 3 to 12 months. As a successor Trustee, you should not feel that you should know exactly how to execute each of these steps. We can assist you with each of the tasks listed above to ensure that your loved one’s wishes will be carried out as stated in their trust.

Probate

When your loved one dies, assets titled in that person’s name will likely pass to the beneficiaries according to the terms of that person’s will. Probate is a legal proceeding under the jurisdiction and supervision of the Probate Court in the decedent’s county of residence. The probate process consists of the following steps:

  • Probate Court appoints an executor
  • Executor gathers and values the assets of the deceased
  • Executor notifies and pays creditors, pays court costs and administration expenses
  • Executor files tax returns and pays outstanding taxes
  • Executor files inventory and accounting reports with the Probate Court
  • Executor distributes the remaining assets to the intended beneficiaries

The probate process typically takes anywhere from 4 to 18 months. We have the experience to guide you through these steps and help you manage the estate effectively during this very difficult and emotional time.

With offices in Madison and Evansville, WI, the attorneys at Wilson Law Group assist clients with Estate & Business Planning, Probate & Trust Administration, and Elder Law & Medicaid Planning throughout Southern Wisconsin.