Legal Question in Wills and Trusts in Georgia
wills and trusts
What is the process when a person dies and has no children or spouse, has real estate in a revocable trust and stocks?
3 Answers from Attorneys
Re: wills and trusts
You should consult with an attorney for a couple of reasons: You need to find out if there was a will and if it needs to be probated. If not, the estate may have to be administered. Also, I would be interested in the wording of the trust document.
Re: wills and trusts
It depends on whether the person left a will. If he did, the will must be probated, and the assets administered according to the law (that is, debts must be paid) and distributed according to the will.
If he left no will, but has surviving relatives (parents, aunts or uncles, cousins), someone (usually an heir) will have to initiate administration of the estate, and the assets will be distributed according to the laws of intestacy.
If there are no known heirs, any creditor can start the process.
If you have an interest in this estate, consult an attorney.
Re: wills and trusts
further to my last answer, the terms of the trust will control disposition of the property actually in the trust, but probate or estate administration will still be necessary.
You should have an attorney explain the trust instrument.