Memories are a saving grace. They comprise our identities, remind us of who we are, and of those who are important to us in turn. They can be a great source of comfort in times of need. In the same way, our belongings, our shared items, and our homes are all expressions of who we are, of the decisions we have made in life; manifestations of our physical presence on earth. They are often imbued with memories of who we are, and where we came from. They form, in a sense, part of our legacy.
When a loved one passes away, there is an unfortunate, but necessary, amount of work to be done in administering the deceased’s belongings and assets: paying off creditors, transferring property and financial assets according to the decedent’s wishes, distributing personal items, notifying banks, businesses, and beneficiaries alike. Having to take care of these duties, while dealing with the emotions of the loss of a loved one, can be an overwhelming task.
For that purpose, we have Estate Administration Group; a team of advisers, who can handle the burdensome tasks following the death of a loved one, as well as guide successor trustees or personal representatives who come to inherit the responsibilities of wrapping up an estate. Should the estate need to go through probate, we can assist with the court proceedings, making sure all assets are distributed appropriately and keeping costs and time spent to a minimum; should the estate be in trust, we can advise the trustee(s) of their legal and fiduciary duties, making sure the process goes quickly and smoothly.
We mentioned in our first post the estate of Bernice Pauahi and Bishop Reed. What we didn’t mention is how, more than a century after Bernice Pauahi’s passing, her estate was plagued with controversy and scandal surrounding its administration.
Take steps to preserve your legacy, and your memories. If you are in need of assistance in administering an estate, or have any other questions regarding estate planning, feel free to give us a call at (808) 942-8778.
For more information on how we can assist you, please feel free to contact us and a representative will contact you within one business day.