| Letters Testamentary…read on:
CLIENT QUESTION:
Hello,
My parents have a revocable trust/Special Needs Trust and will that was created with your assistance. My mother recently read an article in the AARP magazine that described how after her parent passed away, a daughter had to get a letter of testamentary from probate before the daughter/executor could access any of her mother’s resources to pay bills and funeral expenses, even though there was a will. I am named as Executor in my parents’ will and trustee of their revocable trust. Will I still need to get this testamentary letter, after they both pass? If so, can I get the letter while they are still alive? My mother thinks I need to.
MY RESPONSE:
I am sure that this is the first time that your mother is wrong! If your parents
die with an asset that is not in their trust or not joint or does not name a beneficiary, then you will have to probate the will, which is normal. In fact, a will is a worthless piece of paper until you probate it. Once the will is accepted by the probate court for the probate process, the probate judge will authorize you to receive “letters testamentary” from the court which will give you written authority to handle the estate. You can not receive this paper while your parents are alive…(this is no reason to bump them off early). Be patient. As my father always said, the future will arrive for us all!
I hope this helps! |
