Most people don’t want to go to Court. Additionally, a Living Trust Lawyer most the time will not have to go to Court unless it is a formal Probate. Brian D. Lerner states that the probate court has general supervision over the administration of a decedent’s probate estate, but a revocable trust used as a vehicle for administration and distribution of an estate is not supervised unless the court’s jurisdiction is explicitly invoked by the Living Trust Lawyer. A trustee, therefore, can generally act more quickly than an executor to carry out necessary fiduciary duties states Brian D. Lerner, Living Trust Lawyer.
What are some of the differences between a Trustee from a Living Trust and an executor from a Will asks Brian Lerner. An executor cannot begin to perform his or her duties without first receiving letters testamentary from the court. Often, these letters are not received until two or three months after the decedent’s death states the Living Trust Lawyer. It can take longer if the addresses of all persons entitled to notice of the petition for letters are not immediately available or if anyone objects to or contests the petition. However, during Trust Administration states Brian D. Lerner, Living Trust Lawyer, it is possible that there will be considerable disputes in a Living Trust requiring the Living Trust Lawyer to make motions to get the Probate Court to invoke its jurisdiction. For example, states Brian D. Lerner, a Co-Trustee might completely disagree with another Co-Trustee in such a manner that the administration of the Trust is halted; or a beneficiary disputes the contnts of the Living Trust, or a Trustee violates his or her fiduciary duties and must be removed or an agreement for apportionment of real property cannot be agreed upon. Thus, Brian Lerner states while people do not like to go to Court, it is a good thing that a Living Trust Lawyer can invoke the jurisdiction of the court so that when the conduct of other beneficiaries or trustees or any number of situations cause a halt in the trust administration, the threat of using the Court or the actual filing of motions to the Court will resolve the situation one way or another.
Although court supervision has drawbacks, it has some advantages. Foremost among these is the protection of beneficiaries as stated above by the Living Trust Lawyer. For example, notice periods give interested parties an opportunity to object to the matters covered by the notice. If there is a will contest or a large creditor’s claim, spouses, registered domestic partners, and children can be provided for by a family allowance, which has priority over most creditors’ claims. No such protection is available with a revocable trust which is one disadvantage states Brian D. Lerner, Living Trust Attorney to using a Living Trust instead of going to Probate through the use of a Will
Court supervision may also be helpful in administrations that involve complex transactions or distribution requirements which an exist in either a Will or Trust. However, if the revocable living trust requires complex transactions and it cannot be agreed upon, the Living Trust Lawyer will most definitely use the Court to get a fair outcome. Although a lengthy petition for final distribution is required, the court does review and approve final accounts and distributions in varying degrees, thus sometimes providing some protection and finality for all involved states the Living Trust Lawyer.
Court supervision is available in a revocable trust administration in that a trustee or beneficiary may invoke the probate court’s jurisdiction to instruct the trustee or to grant other relief. Thus, if the Living Trust Attorney sees that another Trustee or Beneficiary is perhaps stealing from the Estate and performing acts as a Trustee which violate the law, or does not do certain acts required by the law, then the Living Trust Lawyer can do what is necessary in order to move the matter to Court. There might be misappropriating funds which causes the necessity for Court intervention states the Living Trust Lawyer. Sometimes one Living Trust Lawyer can be opposing another Living Trust Lawyer and administration of the Trust simply does not move forward. In this case, states Brian Lerner, invoking the jurisdiction of the court would be proper.