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A trust administration is NOT a court-supervised process,yet its ultimate goal is also the transfer of property from an individual who has died (the �decedent”) to that individual�s beneficiaries who are identified in the living trust Once everything has been distributed,you will submit receipts and records of everything to the court and then ask for the estate to be closed and to be released from the role of executor Irvine Probate Law Then the court will schedule a hearing to approve the executor (or hear objections from other parties).
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A trust administration is NOT a court-supervised process,yet its ultimate goal is also the transfer of property from an individual who has died (the �decedent”) to that individual�s beneficiaries who are identified in the living trust You’ll also need to pay all applicable taxes,as well as file a final income tax return on the estate Irvine Probate Law Stocks and bonds.
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It is also recommended (but not required) that each person be sent a copy of the Petition for Probate with all attachments.
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In addition to the petition,you will need to file a valid will,if one exists,and the death certificate.
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Some assets are distributed to heirs by the court (probate assets) and some assets bypass the court process and go directly to your beneficiaries (non-probate assets) administrator.
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