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?

more>

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: Probate Administration — Efficiently Settling an Estate

When a loved one dies, the family’s resources can be challenged, both emotionally and financially. Our firm can help settle the estate fairly and equitably. The estate settlement process will often involve presenting a Will to Surrogate’s Court for approval. This process is called Probate or Administration. This will result in the court’s appointment of an Administrator or Executor, who is able to, with the court’s authorization, collect the deceased person’s assets from banks, stock companies and other financial institutions. The Executor or Administrator is awarded “Letters Testamentary” or “Letters of Administration.” A court appointed estate representative owes a duty to the estate and all the beneficiaries. Our firm will help the Executor complete the estate tasks efficiently and effectively, including meeting the legal requirements of informing all heirs of the estate’s status.