What is the law regarding probate and an inter vivos Trust?
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What is the law regarding probate and an inter vivos Trust?
My father became the conservator and guardian of my grandmother, eho had dementia. He placed all her financial assets into an inter vivos revocable trust agreement in his name. He did not place her home or household items into the trust. She has since passed with a Will. Detailed documentation of financial assets have been given to probate. Can he pay her funeral expenses and taxes from this trust? What else does probate need to finalize her estate? s the trust subject to probate?
Asked on October 19, 2012 under Estate Planning, Michigan
Answers:
FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney
Answered 11 years ago | Contributor
Under the laws of all states in this country trust assest per a stated trust do not need to be probated. As to payment of expenses for your grandmother's burial and taxes from trust assets depends if the language of the trust allows such. Most likely it does with or without court approval.
As to assets not placed in trust such need to be probated for a later transfer to the designated heirs stated in the trust, Will or through an intestacy proceeding. I suggest that your father consult with a Wills and trust attorney about the matter you have written about.
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