How Long Does It Take To Close A Trust Administration?

If your trust has to be distributed, and you haven’t received it yet, you may be wondering how long it might still take. 

Well, I’ve seen it done in a matter of weeks, in months, and I’ve also seen it done in years. It really just depends on the exact situation.

When you have a property in a trust, and you pass away, in order for your inheritors to change the title from one person to the other, they have to go through a process called trust administration.

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So, what is trust administration?

Trust administration is similar to probate. With probate you have to go to court, and you have an executor with all the duties. With trust administration, you just don’t have court supervision.

Sometimes I get asked, why not just make a deed? Well, there are a lot of things that need to be done in that regard. You would have to send a lot of notices and take a lot of action before you can make the transfer.

You don’t want to do that.

You would also have to make sure that whoever is in charge is not prone to liability. You see, that’s very important because should things go wrong, the beneficiaries could turn around and sue you for doing wrongful acts while you were in charge of moving title from one person to the other.

That’s also not something you want.

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A lot of people ask, so how long will this take?

If you have to compare the closing time of probate versus trust administration, I’d say trust administration is much shorter. Probate usually takes nine months to one year and a half. 

I’ve seen probates that have dragged on for years because people would be fighting back and forth. In cases like these, the state can’t close the estate until those battles are done.

There are cases where a trust administration may take longer than two years before it is finalized. This is mostly in cases such as when a trustee is required to file an estate tax return with the IRS or when someone brings a trust contest lawsuit. 

However, with the estate tax exemption of $11,4 million per person, and $22,4 million for a couple, very few trustees are subject to estate tax. 

So, if you have a trust and there are no lawsuits or estate taxes, we could move title in a much faster way, as we don’t need to give court notices and go through the court procedure. Our procedure is much quicker, much faster and much cheaper.

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