Would you know what to do if your loved one died? Dealing with the death of a loved one is never easy, but it can be made a lot easier when you know exactly what you’re supposed to do when it happens. As a trustee of an estate, you must make sure you comply with legal requirements to avoid liability. Think of this as an estate planning checklist that will guide you through trust administration and your responsibilities.
Some of the topics this legal webinar will cover are:
- What a trust actually is
- Taking inventory of all relevant paperwork like death certificates, life insurance policies, etc.
- Reviewing the deceased’s estate plan including their living trust, wills, trustees, etc.
- Organizing expenses like funeral plans, establishing bank accounts, etc.
- Asset management and keeping records of trust property, trust income, etc.
- Whom you should notify of the death like heirs and beneficiaries
- Addressing outstanding debts
- Insurance and annuities
- IRAs and 401ks
When it comes to administering a trust, guessing is just not an option which is why Estate Planning and Trust Administration attorney, James L. Cunningham from CunninghamLegal explains exactly what steps need to be taken in this legal webinar.