Estate Planning Lawyers in Hampton New Hampshire (NH)
Estate planning refers to making a plan for what happens to a person’s assets after their death. This includes naming beneficiaries of those assets, designating legal guardians and leaving instructions. It also includes making sure that the person’s wishes are clear and easy to carry out after they have passed away.
If you’re going through a loss of a loved one, you should be able to have the time and space to heal instead of stressing about settling their legal matters and estate. Besides, we don’t always know exactly what the deceased would’ve wanted to do with certain assets or dependents. That’s why it is best to have all affairs settled and clear plans put on paper during one’s lifetime.
Settling the Estate of Someone Who Has Died Without a Will
If a person passes away without having left a Last Will and Testament, they are referred to as someone who have died intestate. The local state laws are to determine how the assets will be distributed among the heirs, which usually means the spouse, children, or another living blood relatives. The court will appoint an executor for the estate and a legal guardian to any children that are still minors.
What Is the Difference Between a Trustee, Administrator and Executor?
Trustee, administrator and executor all have very different roles within the legal system.
A trustee is the person who is in charge of a trust. An administrator is court-appointed and is there to oversee an estate in the instances where there is no will. An executor is appointed by the probate court and oversees an estate when a will has been created and submitted to probate.
The trust administration normally takes place after the person who had created the trust has died. Their assets are transferred to beneficiaries or heirs according to the terms of the trust.
A non-probate transfer happens when assets pass without a probate or trust administration. This happens when assets are designed to bypass the trust or probate process. For instance, if one of joint tenants die, a non-probate transfer will take place. The surviving joint tenant will then be receiving the decedent’s interest on the property.
A trust administration, as well as both probate and non-probate transfers are all different methods of transferring assets of the deceased person to their heirs and beneficiaries.
Contact us today
We will be happy to help with all the paperwork that you need handled. Cohen & Winters attorneys can take some of that weight off your shoulders. To consult with our estate planning lawyers in Hampton NH today, Call or Click here to schedule a free consultation. Call us for a free consultation at(603) 836-8453.