Estate planning is essential for ensuring that your assets are distributed according to your wishes. One effective tool in this process is a living trust, which can help avoid the lengthy probate court process. By establishing a living trust, you can ensure a smoother transition of your estate without the complications often associated with probate court.
Simply put, if you own a home, have children, or have no one to legally help you if you become disabled, you need a living trust.
The living trust enters a new phase called Trust Administration. When a person or couple has a living trust and they pass, the trust will need to be administered to finish the terms laid out in the living trust. The original owner(s) of the trust was the trustee(s), but the next in line named in the trust would be in charge. This person is referred to as the The Successor Trustee. At this point the Trustee generally has administrative duties to complete:
Creating the needed paperwork is something that The Trust Pros can help with. We refer to this as our Successor Trustee Service.
Provided paperwork for Successor Trustee service includes the following:
1. A three page checklist of items that need to be addressed when someone passes away
2. Completed Real Property paperwork (CA only) which includes:
a. Preliminary Change of Ownership Report (county recorder application)
b. New Quitclaim Deeds transferring Real Property to beneficiaries
c. Affidavit of death
3. Affidavit of Assumption of duties, which is presented to banks with trust accounts. This document affirms your role as the new Successor Trustee for the Trust.
4. Notification of Probate Code 16061.7 Form. This required and is delivered to all beneficiaries along with Living Trust Declaration.
5. If needed, Final Trust Distribution Letter (provided for an additional fee), signed by all parties in front of a notary, thus agreeing to terms of distribution.
6. Assistance filling out related forms from financial institutions.
The Trust Pros is a legal document service only, meaning we prepare paperwork only. If you need legal advice or If one of the parties mentioned in the trust decide to hire an attorney and send you correspondence, you will need to hire an attorney separately.
Yes, we do. Call 1-866-992-0299 for details.
Our trusts are built by a paralegal and reviewed by an estate planning attorney before delivery. Our company founder has been Managing Director/President since The Trust Pros doors opened in 2001.
The company's president and founder Michael G. Crupi, M.B.A., works together with his wife, operating both The Trust Pros in Los Angeles and The Georgia Trust Pros near Atlanta. Michael's background includes being a former Certified Tax Preparer, Portfolio Accountant at State Street Bank, and working in Financial Product Management with Transamerica. Before starting the Trust Pros, Michael served as Regional Vice President for CNA in Chicago. The Trust Pros is proud to have maintained the highest service rating from the Better Business Bureau (BBB joined in 2005) for 18 years. You can visit the BBB website at www.labbb.org, and type in the business name, The Trust Pros.
The Trust Pros’ mission statement is simple: provide attorney-reviewed quality living trusts without the attorney fees all while maintaining the highest level of professional service. Our discipline is simple: keep the customer happy so they may tell their friends about us.