Transferring Wealth: Administering Trusts and Estates with Clarity and Compassion

Why is it usually a good idea to get legal help when administering a trust or estate?

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Imagine your family having to sell your home just to pay for taxes. So San “Susan” and Dai Min “David” Kee were confronted with this possibility as they began their estate planning. In his mid 70s, David was beginning to have some health problems, so the Kees felt some pressure to act quickly. If they were to leave their home to their only son, John, however, they ran the risk of having it sold. The Kees worked with Grimaldi & Yeung to:

  • Create an estate plan that by-passed their son in favor of their grandsons in order to preserve the family’s assets.
  • Initiate a frank family dialog that resulted in the more qualified younger grandson being named as executor — with no resentments.
  • Straighten out previous erroneous legal work — including a deed that inadvertently conveyed the entire house to neighbors.
  • Administer the estate after David’s and Susan’s deaths.

Grimaldi & Yeung was able to function as a trusted advisor to and advocate for the Kees over three generations, helping them preserve a cherished family home and maintain peace within the family.

Estate Administration & Trust Management

When someone you care for dies, his or her estate must be organized and settled. This can often be complex, particularly if there is no valid will or living trust. Even if there is, executors and trustees are required to handle a range of tasks with accountability to their fellow heirs, the courts and the taxing authorities. Failing to do any of these timely or correctly can have a negative impact on the estate the assets, taxes and most of all its beneficiaries.

Grimaldi & Yeung helps executors and trustees carry out their responsibilities, including:

  • Admitting the will to probate.
  • Inventorying, collecting and valuing assets.
  • Paying valid debts.
  • Preparing and filing estate taxes and fiduciary income tax returns and arrangement for assessment and payment of taxes.
  • Distributing estate and/or trust assets.
  • Accounting to beneficiaries.
  • Overseeing time sensitive issues, such as disposition of real and tangible property.
  • Settling specialized trusts and distributing funds.
  • Ensuring that fiduciaries are meeting their responsibilities.

Our role is to implement the estate plan — and the final settlement of the estate — in a manner that is both comprehensive and compassionate, relieving stress in a time of grief.

Contested Wills

The passing of a loved one may lead to disputes among family members. Grimaldi & Yeung can represent either the executors or trustees to defend a contested estate or the disadvantaged heirs making the contest. As in all our work, we strive to be compassionate, rather than confrontational, and seek rapid solutions that benefit all parties.

Our goal is to arrive at an equitable solution among all parties. In order to do so, our firm can provide legal services in the following areas:

  • Filing objections to the probate of a Will.
  • Petitioning the court for Will determination and construction.
  • Filing accountings as required by court.
  • Appearing in court for our clients.