Probate & Trust Administration
The Law Office of Nikki A. Uri, LLC will work with you to navigate the complex process of probate and assist with all aspects of trust administration.
Probate is a court-supervised process for identifying and gathering the assets of a deceased person (decedent), paying the decedent’s debts, and distributing the decedent’s assets to his or her beneficiaries.
Trust Administration is not a court ordered process. It involves the transfer of property from the creator of the trust to the trust’s beneficiaries. Unlike probate proceedings, trust administration allows for the simple distribution of property to beneficiaries. There are several different kinds of trusts to consider.
Nikki can work with you to create a trust tailored to meet the needs of your specific situation.
Trust types include: Supplemental Needs Trust (SNT), Revocable Living Trust, Irrevocable Trust, Life Insurance Trust, Spousal Limited Access Trust (SLAT)
This allows for an incapacitated person to receive income, but not impact to their eligibility for for benefits eligibility of Social Security, Supplemental Security Income (SSI) or Medicaid.
This is a living trust that allows the originator to either modify or revoke the trust. Upon death, the assets pass directly to the named beneficiaries.
Any modification to the terms of the trust, including termination, must be approved by the beneficiaries or by court order. This type of trust will typically minimize estate taxes and protect assets.
This is an irrevocable trust, holding at least one life insurance policy, which upon death, the proceeds are invested for the beneficiaries.
This provides asset protection by allowing one spouse to transfer assets from combined estates to provide for the other spouse upon death. This is an irrevocable trust and may be used both for tax benefits and protection from creditors.