Trust Administration Process

McPherson Law Offices ESTATE PLANNING, ESTATE & TRUST ADMINISTRATION & LITIGATION. REAL ESTATE AND ELDER LAW ATTORNEYS Step 5: Is a Probate Estate Necessary? Unfunded trusts • . Assets outside the trust . Creditor issues High liability professions: attorneys, doctors, etc. Personal business exposure McPherson Law Offices ESTATE PLANNING, ESTATE & TRUST ADMINISTRATION & LITIGATION, REAL ESTATE AND ELDER LAW ATTORNEYS . Step 5: Is a Probate Estate Necessary? Use Small Estate Affidavits to transfer assets to the trust Examples: vehicles, accounts, life insurance payable to Estate Use Small Estate Affidavit up to $100,000 (gross value outside trust) 755 ILCS 5/25-1 4/19/2017 17

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