Once a trust is created and funded, it must be administered by the trustee. The trustee has a fiduciary duty to both the creator(s) of the trust and the beneficiaries.
We provide comprehensive representation to trustees in their fiduciary capacity to ensure that they comply with statutory requirements including all court documents and reporting. The statutory requirements are rather extensive and the repercussions for improper administration, whether intentional or not, can be unfortunate. Hull & Chandler attorneys can assist with general administration of a trust from start to finish.
We also provide competent legal advice to beneficiaries regarding their rights and interests in the trust. Our goal is to help any party reach their goals in the most efficient and effective matter.
Hull & Chandler attorneys can assist you with all court proceedings and administering the disposition of a decedent’s probate estate. With proper representation, probate can be a relatively painless process. We assist both with formal and informal probate. Colorado Law allows most probate estates to be administered informally. This is a quicker and generally more cost-efficient administration than formal probate. Probate can be testate (when the deceased left behind a Will), or intestate (when the deceased did not leave behind a Will).
If the decedent created a trust during his or her lifetime, we can also assist with the trust administration. Our experience enables us to smoothly assist you with the entire process in an efficient and effective manner. Our goal is to ensure that the personal representative (executor) of your estate and trustee of your trust (if applicable) are fully compliant with all their fiduciary duties.
We can help the personal representative (executor) through the entire probate process. Sometimes the death of a loved one can bring out some conflicting behavior with beneficiaries and other interested parties. Having a competent attorney to be ready to handle those situations when they occur is the key to avoiding a lengthy and costly probate process.
Hull & Chandler attorneys have an experienced team dedicated to probate and estate administration.
A properly drafted estate plan can help to avoid the court ivolved probate process. There are many estate planning tools we use to ensure assets get to the intended recipients without court involvement. Our experienced team can educate you on all the options so you can make an informe decision.
A court procedure that authorizes the personal representative (executor) to move assets from the decedent’s ownership to the beneficiary’s ownership.
Some states do not require probate to be opened to move certain assets. Even those that do require probate can typically be handled informally, which enables the process to flow quicker and avoids court appearances. Call for a consultation to determine if a probate needs to be open.
Most probates can be completed in approximately six months. The length of time depends on whether parts of the probate are contested and how quickly the personal representative performs his/her duties.
This depends on the specific situation and asset. For example, if you require long-term care at an assistance facility, you can disqualify yourself from Medicaid by making a gift within five years of applying for Medicaid. If you have to enter the facility as private pay, the cost is between 5,000 and 10,000 a month. Also, you could subject your estate to paying gift taxes on these gifts made. Call for a consultation to discuss options.