Probate is the process of unfreezing assets and then changing title to them through the court system. Probate happens after someone dies. Usually, you cannot access their accounts or sell property until you open a probate case. Usually, a Last Will and Testament will direct where the person’s assets go. Even with a Last Will, your estate will need to go through probate when you pass away.
One way to protect those assets and interests and, at the same time, help the probate process go smoothly, is to have all of your ducks in a row and prepare for court as best you can by working with an experienced Beverly Hills probate attorney. If you are trying to gain access to the assets of a deceased loved one, schedule a strategy session now with Liran Aliav, an experienced probate attorney to explore your options.
If your loved one signed a living trust before passing away, you most likely do not need to go through a formal probate procedure to unfreeze his or her assets. Instead, the process to move assets to the beneficiaries is called Trust Administration, which is usually much shorter and cheaper than probate. Trust Administration requires that the trustee perform certain duties under law. A trustee is an individual or corporation who is a party to a trust and holds “bare legal title” to assets. The trustee has the power to carry out the wishes of the person(s) (i.e., “trustmaker(s)) who created the trust.
If a loved one has recently passed and you have been appointed as the trustee it is essential that you work in concert with Liran Aliav.