How Does a Family Trust Help Your Family Avoid Probate When There's a Unexpected Death?
Probate court in Hawaii is the official way that an estate gets settled. When an unexpected death occurs and there is no Will a surviving spouse or an adult child, is appointed by the court. Once appointed by the probate court this person, now an executor has the legal authority to distribute the assets to the heirs or beneficiaries. This doesn’t always work out the way the deceased intended and often causes distress in the ohana.
Probate can prevent fraud after someone’s death. Probate essentially freezes the deceased’s estate. When there is no family trust, a probate court judge will make the following determinations;
- Is there a valid Will?
- Have all the relevant family and non-family members been notified?
- Has all the property in the estate has been identified and appraised?
- Have all creditors been paid?
- Have all taxes have been paid?
Once all of that’s been done, the court issues a court order distributing the assets including property and other items that were not protected with a family trust. Then the estate is closed.
A family trust keeps your children out of probate court.
You decide who will take care of your children’s assets including;
A. Life Insurance
B. Accidental Death Benefits
How does it work?
You create a family trust as a grantor. You are the trustee. Your children are the beneficiaries.
Life Happens
You can change your family trust anytime to adjust to your needs and family life.
You can choose the age that your children will take the assets from the trust. For example, 25 years old.
We want to help you and your ohana avoid probate court. We handle all the details of family trust planning and execution. We want to help you identify your beneficiaries and how you would like your assets distributed without the need for probate court.
Please use the form below to schedule a free consultation. We will explain how the process works and answer your questions about Family Trusts.
Hawaii Family Courts
Established by statute in 1965, the Family Court’s mission is to provide a fair, speedy, economical, and accessible forum for the resolution of matters involving families and children.
Learn about Family Court Programs by visiting the Hawaii State Judiciary. On Hawaii Island, visit: https://www.courts.state.hi.us/general_information/contact/hawaii