![]() |
Probate makes no sense to me.
A person takes the time to have a Will made. The Will names the executors. BUT the court has to officially appoint the executor. The rules of the probate court dictate the actions of the executor.
A person takes the time to create a Trust. The Trust names the successor trustee. When the Grantor passes, the Successor only has to accept their position as Trustee. No court involved. The Trust dictates the actions of the trustee. Two legal documents but two completely different processes. Why?? I don't understand why the court needs to be involved in appointing the executors unless someone contests the Will? If the will states "....." is executor and the assets of the estate are to be distributed to the beneficiaries equally, why does a court need to be involved at all? At a point the two, Will and Trust, meet where an inventory of assets needs to be compiled. The difference is the court tells the executors when assets can be distributed whereas a Trust allows the trustee to distribute assets almost immediately. Again, as long as no one contests, why is the court involved? I don't understand the probate process. I understand that a Will and a Trust are two completely different instruments. I just don't understand why, if no one contests the will or disputes the actions of the executors, that the court needs to be involved at all. It all seems like a money and a time suck to me where the intent of the person who created either instrument seems clear. |
That's a pretty good explanation. The other difference is that the trustee is subject to scrutiny by the settlor while alive, so there's oversight. The purpose of probate is twofold, maybe three, to allow creditors to come forth, to allow those who would otherwise inherit to challenge, and most importantly to require an accounting by the fiduciary.
All things considered, a good intervivos trust is pretty seamless. |
Quote:
In my case, there's a Trust AND a Will that stipulates all residuary transfers to the Trust upon death. The Trust is responsible for the bills of the Grantor and the Grantor's estate. Seems pretty simple! But... it's not. It makes no sense to me why, when the Will is clear, and the Trust is responsible for any and all bills of the Grantor, a court has to be involved. It seems overly complicated where both documents provide clear intent. The problem for me is that a car didn't T.O.D to the trust so now we go through probate since there's no surviving spouse and the value of the vehicle is above the "small estate" limit that could otherwise expedite probate. |
NJ the process was surprisingly easier. With my mom's estate, we just registered a copy of the will with the county, and proof we notified beneficiaries with copies of the will. They even supplied forms for the beneficiaries to sign off on before they received assets, basically to CYA the executors.
Difficult part was trying to get some of the investment companies to release funds to the estate account. Vanguard sucked in this respect, took almost a year. Best were the POD accounts, they skip probate, go right to the beneficiaries. The worst part was distributing half of my mom's jewelry to my ex-sister, who hadn't seen my mom in ten+ years, and didn't visit when mom was dying, despite living 10 minutes away. |
One big reason for the difference on the Will side, is that the Court's approval results in Letters Testamentary, which give the Executor the legal authority to take action on behalf of the deceased and his/her affairs. Technically the Executor can't just run around cancelling accounts or selling off assets without LettersT.
A friend of mine had a criminal case recently where the defendant was charged with criminal trespass of his dead grandfather's house. His mother and aunt had not processed the grandfather's estate thru probate and just assumed ownership of his crap. I bet it happens more often than we know. Verdict was not guilty if anyone is interested. When I settled my father's estate, I was only asked for my Letters Test a few times. Most businesses didn't care, like the fitness club which just looked up his obituary online. |
Lawyers make the rules. (1)
Lawyers interpret the rules. Lawyers implement the rules. Lawyers profit from the rules. Makes perfect sense. If you are a lawyer. (1) the majority of lawmakers are lawyers. Stop voting for lawyers. |
Gosh Nick, I thought you knew everything.
|
Quote:
|
Quote:
The Estate, a car, is now tied up in probate which was completely my mistake. I thought about the car not being in the trust a few weeks before my dad died and just didn't get the issue corrected. I thought I had more time. I didn't. |
Quote:
|
All times are GMT -8. The time now is 12:48 PM. |
Powered by vBulletin® Version 3.8.7
Copyright ©2000 - 2025, vBulletin Solutions, Inc.
Search Engine Optimization by vBSEO 3.6.0
Copyright 2025 Pelican Parts, LLC - Posts may be archived for display on the Pelican Parts Website