If a loved one has recently passed away in the state of Florida, it is likely that you will be dealing with a mixture of emotions. While you will be grieving, you will also have to deal with logistical aspects of the passing. These two processes can be tough to deal with alone. It is important that you reach out to your support system for help and guidance.
One of the logistical aspects that you will have to deal with is the settling of the revocable living trust, if your loved one set one up during their lifetime. This process will be part of the general settling of the estate. It is the responsibility of the trustee of the revocable living trust to go through this process.
How should the trustee proceed with the settling of the revocable living trust?
If all a person's assets were held within the revocable living trust, the process of settling the estate will probably be fairly simple. However, if some assets were not included in the trust, they may need to go through probate.
One of the first tasks is to start preparing funeral arrangements. This should be done by reviewing personal data and providing this information to the funeral home. When these arrangements have been made, death certificates can be ordered.
Death certificates can make it possible to initiate the estate settlement process. These can be used for verification purposes when dealing with insurance polities and real estate deeds.
It is also vital to check the safe box and the checking accounts of the deceased person. This is important because a statement of final wishes or instructions may be left there, along with other important information or valuable assets.
After these steps have been carried out, the list of beneficiaries should be established and verified. The assets of the trust can only be dispersed to the beneficiaries after the estate has been taxed.
If you are going through the process of settling an estate in Florida, it is important that you do not underestimate the complexity of the task. Make sure to conduct thorough research so that you are prepared for the process.