Estate And Trust Administration
Cronin, Bisson & Zalinsky PC provides services for all stages of Estate Administration and the Administration of Trusts for residents of New Hampshire and Massachusetts.
Losing a family member or friend is a difficult experience. Executors and Trustees need assistance in carrying out their fiduciary duties. Some estates require court-supervised administration (probate) whereas many others are administered partially or totally outside of court. Administration of an estate of a decedent depends upon which estate planning choices were made during lifetime. Cronin, Bisson & Zalinsky, PC provides the expertise and experience you might need in a personal and respectful manner.
Estate Administration requires a person’s executor or administrator to find, secure and manage assets of the decedent during the probate process, which commonly takes 6 month to a year before those assets can be distributed to beneficiaries. Only assets held in the name of the decedent alone are subject to probate administration. Assets held in some form of joint ownership or payable to a designated beneficiary are not subject to probate administration and pass by operation of law. For all assets titled in the decedent’s name the probate process is necessary whether the decedent had a will or not. We provide:
- Testate Administration - for decedents with a Last Will and Testament
- Intestate Administration - for decedents without a Last Will and Testament
Revocable Trust Administration is the administration of the estate of a decedent having transferred some or all assets into a valid Revocable Trust. A Revocable Trust is established by a Trust Agreement in which the Grantor, the person setting up the trust, names a Trustee to administer the trust upon the Grantor’s death. The Trustee of the post-death revocable trust (successor trustee) has many of the same duties and responsibilities of an Executor or Administrator. The Trustee must evaluate the assets of the trust, pay debts and expenses, prepare and file estate and income tax returns, account to the trust beneficiaries, and distribute assets to the beneficiaries.
Successor trustees often lack the time, resources or knowledge to personally administer the trust, and therefore may call upon legal, accounting and investment professionals for assistance. Cronin, Bisson & Zalinsky PC can help successor trustee(s) deal with the complexities of trust administration as well as help coordinate accountants, investment services or other needed professionals during the administration process.