Managing probate and trust administration of an estate is complex work that requires strict attention to the intricate details of the law, tax code, and adherence to the terms of the last will or trust agreement.
As a personal representative of a probate estate, or a trustee of a trust, or both, you can be held personally liable for any mistakes you make in the performance of your fiduciary duties.
As a personal representative of a probate estate and/or a trustee of a trust, you can be held personally liable for any mistakes you make in the performance of your fiduciary duties.
You were likely selected to serve in this role because the decedent trusted you to handle their final affairs and properly provide for their beneficiaries. In addition, they chose you because you were the most capable and trustworthy person in their life.
Such a selection is an honor and should be treated with great appreciation. However, it is imperative that you recognize the importance of this role and make your execution of the duties required of such an office your top priority.
Having a professional law firm manage this process is not only a wise move that will give you the best chance of staying in compliance with the law; it also makes the tasks you must perform far easier than should you go it alone.
You may be a personal representative of an estate or trustee of a trust and not even know it. Probate is the legal process in which the court determines what will happen with your property after you die. Trusts are agreements that allow someone to manage and use the property for another person’s benefit while still retaining ownership and control over it themselves. Both probates and trusts can have beneficiaries who should receive some kind of financial reward when they are successful in their administrative duties, but these fiduciary responsibilities carry personal liability risk as well.
Anyone in need of a great law firm that does Living Trust/ Wills I highly recommend Filippi Law Firm in Rocklin.
My husband and I needed to have a new Trust done and we were very pleased with
I highly recommend Filippi law firm. Can’t say enough how much I appreciate all they did for me and my living trust. Jim is very helpful and relieved any doubts I had about trust. Very nice law firm and friendly. Thank you Jim for everything and Courtney as well.
Very Professional service provided. Handled my trust with professional care and left us feeling very confident. Would recommend Filippi Law Firm to all my friends
Jim is a personable individual and all the people in the firm are friendly and professional. Creating my trust was painless and has taken a load off my mind.
We had an outstanding experience with all the Filippi associates we worked with. They were exceptionally professional and friendly. I would highly recommend their services.
The Filippi Law Firm is very family oriented, professional in every way and quickly responded to any questions my family had. Their end product left nothing to be desired as it was an extremely well thought of and produced legal document. I highly recommend the firm to perform in any capacity of estate planning or administrative law.
