Probate & Trust Administration
Probate is the legal process of changing title to assets from a deceased person to the person or entity entitled to receive those assets. The assets of an estate will pass to the beneficiaries named in a will, or to the heirs under state law if there is no will.
Trust administration is the process to manage and distribute trust assets as directed in the trust documents. A trustee’s primary duties are: to take possession of the trust’s assets; ensure that debts, claims, taxes, and other expenses are provided for; properly invest trust assets; and make distributions to beneficiaries as directed by the trust.
RLK represents personal representatives, trustees, beneficiaries, and creditors in court proceedings involving probate and trust administration cases of all types and sizes.
Estate and Trust Administration Memos
These memos relate to the administration of a probate estate or the administration of a trust.
Probate and Trust Administration Overview
A summary of probate and trust administration from start to finish, and the actions required of the appointed fiduciary.
Your Duties as a Trustee for a Living Settlor
This memo outlines the duties and responsibilities of the trustee of a trust after the settlor (creator) of the trust becomes incapacitated.
Your Duties as a Trustee: Guidelines for Trust Administration
This memo outlines the duties and responsibilities of the trustee of a trust after the settlor (creator) of the trust has died.
Probate in Nevada: What, Why, and How
An overview of the legal procedures required to transfer a deceased person’s assets through probate in Nevada.
Your Duties as Personal Representative (In Nevada)
A memo outlining what a court-appointed personal representative (executor or administrator) should and should not do during the administration of a deceased person’s estate that is subject to probate in Nevada.
Preparing the Inventory and Account
An overview of the process to prepare an inventory and an accounting that fiduciaries must provide to the interested parties.
Probate Inventory Checklist
This list provides various asset types possibly subject to probate to assist in preparing an inventory to be filed in a probate.
Handling Debts and Creditor Claims
An explanation of how to handle the debts and claims of someone through the probate process.
Post-Mortem Estate Planning
Legal options that can be done to “adjust” a person’s estate plan after death.
Dividing a Trust into Subtrusts After a Settlor’s Death
A summary of how certain two-settlor trusts must be divided into multiple trusts after the death of the first settlor to die.
This memo explains how beneficiaries’ shares are calculated when one or more of the beneficiaries have received an advance distribution of their shares.
This is a memo directed to the settlor and the trustee regarding the management of an irrevocable trust, including an irrevocable life insurance trust (ILIT).