Do I need attorney to administer revocable living trust?
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Do I need attorney to administer revocable living trust?
Parent dies, no surviving spouse. Revocable living trust and Will lists adult children as equal and only beneficiaries. Mortgage and all debts are fully paid. No outstanding debts. Adult children agree to equally divide property as spelled out in Will. One child will sell the house and share the proceeds. Estate worth less than 1M. Why do I need an attorney?
Asked on May 11, 2012 under Estate Planning, California
Answers:
FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney
Answered 11 years ago | Contributor
If you are dealing with a revocable trust pertaining to your parents' estate, you do not need to retain an attorney to administer it if you feel that you are capable of doing the job. The whole purpose of the administration process is to pay all debts and then transfer the assets of the trust to those who are entitled to them under its terms.
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