What if my parents had a trust?

What if my parents had a trust?

In many cases, a decedent who executed a trust during his or her lifetime can avoid probate. The trustee of a trust, however, must still follow the terms of the trust, and must distribute assets according to the provisions of the trust. The distribution of assets often requires legal transfers of property such as deeds, stock transfers, assignments, and life insurance claims. Because of potential legal and tax issues with trusts, a qualified attorney should be consulted regarding the trust when someone who established a trust dies.

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