Richard H. Gregory III
Providence, Rhode Island
Probate and Trust Administration Lawyer
Serving Rhode Island and Southeastern Massachusetts
When a loved one suffers from Alzheimer's disease or dementia, or becomes incapable of handling his or her affairs, a guardianship may be necessary. And when a loved one dies, estate and trust administration are necessary to settle the person's affairs, wrap up loose ends and prepare for the future.
Guardianship proceedings are conducted under the auspices of a probate court. The court appoints the guardian and charges the guardian with administering the guardianship estate for the ward's benefit. If the ward does not have an effective estate plan, the guardian may seek, with court approval, to develop an estate plan for the ward. Guardianship proceedings are sometimes called "living probate," and at times they can be unpleasant. Often a guardianship may be avoided if the individual established a revocable trust or durable power of attorney when competent.
After a loved one has died, the individual's affairs will be administered under the terms of a will or trust. If the person established and funded a living trust during lifetime, administration may be handled privately. If the individual did not use a trust but instead used a will to express his or her estate plan, or if the person simply failed to leave any direction at all, administration will be handled through the probate courts.
The first part of administration after a death involves collecting assets, paying debts, paying expenses of administering the trust or estate, and ultimately following the directions of the trust, will or rules of intestacy as to distribution of personal effects, financial assets and other property. Since administration under a trust, including a revocable living trust, does not require probate proceedings, trust administration is generally not as expensive or time-consuming.
A second part of administration involves tax compliance. This is an important concern which many overlook. The United States, Rhode Island and Massachusetts impose an estate tax if the value of all of an individual's taxable property exceeds certain thresholds. Also, income tax returns must be prepared and filed, including a final income tax return and fiduciary income tax returns for periods after death.
The third part of estate and trust administration is planning for the future. Often a surviving husband or wife needs reassuring guidance, and children may need counseling to fully appreciate what their parents have done for them. Experienced counsel may also anticipate and guard against problems before they arise and recognize opportunities that would otherwise be overlooked.
We are experienced in trust, estate and tax administration. We take pride in easing the burdens of administration in a caring and compassionate manner and in preparing surviving husbands, wives and heirs for the future.
Please contact us by telephone (401-331-5050) or email to find out more about our trust and estate administration services.
Richard H. Gregory III, Attorney & Counsellor at Law
Our offices are located in the Samuel Staples, Jr. House on historic Benefit Street in Providence. We serve clients throughout Rhode Island from Newport to Woonsocket to Westerly and in southeastern Massachusetts communities such as Attleboro, Fall River and New Bedford.
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