Is there ONE article saying you should have a lawyer go thru probate even when for a revocable living trust?

Question

My father passed away 2 weeks ago. His residence was NY, mine is NJ. I am the successor trustee, and primary beneficiary named in my father's revocable living trust, and the executor and only beneficiary in his small (pourover?) will. The trust says I will get 1/2, and 5 other relatives will get the other 1/2 divided into different percentages. The total trust is around $600,000.

Every article I can find from Google says you don't need probate. My father's banker made it sound so simple, all the funds will go into a new acct, and the Trust Dept will disburse the $ according to the trust. My father's lawyer says it is vital to get letters testamentary, trust executor letters and pay $8000 for probate and $12000 retainer to protect my interests, regarding estate taxes, irate relatives etc. I have a call in to another lawyer for a second opinion.

Professional opinions, please.

Answer 1

Probate is the legal process of distributing assets after death -- whether through a will or without one (intestate succession).

Certain things do not go through probate -- they pass by automatic transfer of law -- trusts are one of those things.

So, any thing that was already put into the trust stays in the trust -- that is not changed by the person's death. Anything that they still held in their own name -- that would need to go through probate -- and might (depending on the terms of the will) pour over into the trust.

As to what wasn't in the trust at the time of death -- there are certain statutory rules that might affect that property -- regardless of what the will says. That's why probate happens automatically to deal with all of the various legal issues.

You don't need an attorney unless there are legal challenges to the will -- or the will is particularly complex -- from what you've said above, that doesn't sound like the situation -- so unless the other relatives have some statutory claim, the probate court will probably follow the terms of the will directly.

As for protecting your interests -- again, that's only necessary if some other relative makes a claim against the will or challenges the terms of the will -- and those issues can be dealt with at that time.

Answer 2

it really depends on the state law you're following. it would probably be NY law here, since that is where he lived & made his will. you never "need" an attorney, but the court will hold you to the same standard in all legal proceedings, so if you mess up, it could cost you in the end. probate is a very complicated part of law - you should wait for the second opinion, but if you want to do this with out an attorney, you may want to pay one to consult you, but not to represent you. you may want to call the NY bar association for a lawyer referral to someone who can consult you.

Answer 3

materials that bypass to a minimum of one’s beneficiaries via will are going to be subject to probate, till the valuables qualifies as a “small materials” or passes fullyyt to the decedent’s surviving considerable different. maximum estates that incorporate real materials (land, homes) will exceed this minimum fee. If there is no will, the deceased man or woman's materials will bypass to his or her heirs at regulation in accordance with the state statutes governing intestatesuccession ("intestate" is a Latin term which ability loss of existence and not utilising a will). Intestate estates are additionally subject to probate.