How Are Trustees Paid?

How Are Trustees Paid?

A common issue that comes up in trust administration matters is whether a successor trustee will be paid for serving as the successor trustee, and if so, how much? As with most trust administration issues, the answer lies in the trust document itself. Most trusts...
Latest Update on Heggstad Petitions

Latest Update on Heggstad Petitions

As discussed in our blog on Heggstad petitions, revocable living trusts may be funded from property that is not identified by deed or otherwise titled as assets of the trust by filing a petition with the Probate Court, which seeks an order declaring that the...
Short-Circuiting Probate Through Heggstad Petitions

Short-Circuiting Probate Through Heggstad Petitions

The reason most people use revocable living trusts is to avoid probate. However, if the trust is not properly funded, a probate may be necessary under the terms of the pour-over will. Is a probate required when assets like real property or bank accounts are not funded...