Often times, Probate is more complex and more costly because it is a formal court process. A California small estate affidavit can be a shortcut since it can be used to claim all property, except real estate, if the deceased died after April 1, 2022 and the estate's total value is less than $184,500. But if it's over that amount, it's likely going to Probate. Here is a video on what a Trust Administration attorney does, and it touches on the labor of Probate: www.cunninghamlegal.com/trust-administration-attorney-what-is-it-and-do-you-really-need-an-expert/. At our office, we sometimes advise appointing Corporate Trustees to manage and administer the Trust. They usually charge between 1%-2% of the estate value per year, and for some people, that's well worth their peace of mind.
It depends on how the trust was written. The Successor Trustee takes control of the estate/trust when the original Trustee passes away. Here is a video with some steps: ua-cam.com/video/l_GOtO9sADM/v-deo.html
Is there a time when it should just be better to go thru probate? I know of a few people that would not want to have to go thru all that as a trustee.
Often times, Probate is more complex and more costly because it is a formal court process. A California small estate affidavit can be a shortcut since it can be used to claim all property, except real estate, if the deceased died after April 1, 2022 and the estate's total value is less than $184,500. But if it's over that amount, it's likely going to Probate.
Here is a video on what a Trust Administration attorney does, and it touches on the labor of Probate: www.cunninghamlegal.com/trust-administration-attorney-what-is-it-and-do-you-really-need-an-expert/.
At our office, we sometimes advise appointing Corporate Trustees to manage and administer the Trust. They usually charge between 1%-2% of the estate value per year, and for some people, that's well worth their peace of mind.
In a trust when a spouse dies does the survivor of the trust become trustee
It depends on how the trust was written. The Successor Trustee takes control of the estate/trust when the original Trustee passes away. Here is a video with some steps: ua-cam.com/video/l_GOtO9sADM/v-deo.html