Cody, Cody & McCarthy handles all aspects of Estate Administration and assists in making sure that a decedent’s wishes are carried out by the person or persons they have nominated through their Will and/or Trust.
We represent executors to ensure compliance with their fiduciary duties under the law and to ensure that all steps of Estate Administration are completed in order to carry out the decedent’s wishes.
Some of the key services we provide include:
- Gathering and valuing of all estate assets;
- Payment of final debts and expenses;
- Distribution of assets to beneficiaries;
- Probate and trust administration;
- Transfer of assets such as life insurance, annuities and retirement plans; and
- Determination of applicable income and estate tax issues and the subsequent preparation of tax returns.
Probate Administration is the legal process involving the appointment of an executor and allowance of the will by the probate court. Any asset that was owned by the decedent individually is subject to the probate process. The court oversees the administration of probate assets by, among other things, requiring the executor to file an inventory of assets and an accounting of the income, expenses and distributions made during the period of their appointment. Cody, Cody & McCarthy can serve as liaison between you and the probate court to make the administration of your loved one’s estate as smooth as possible.
Trust Administration is the management of trust assets by the trustee for the benefit of the beneficiaries in accordance with the instructions in the trust. This process involves only assets owned by the trust, and includes the preparation of a trust accounting reflecting the receipts, disbursements and distributions made by the trustee. If you have been nominated to serve as a trustee, Cody, Cody & McCarthy can either meet with you to help you understand your legal obligations or manage the administration of the trust on your behalf to ensure compliance with fiduciary standards.
A lot of people have been counting on me for the last 60 years and thanks to Cody, Cody & McCarthy, I can count on that continuing even after I’m gone.
With all that went into planning our estate, it’s comforting to know that the team at Cody, Cody & McCarthy is there to help my family carry out my wishes. There will be a lot to think about, but with their simple System of Settlement program, I can make sure there is no extra burden on anyone.
John A*, Easton on taxes and tax planning
System of Settlement
At Cody, Cody & McCarthy, we have developed a System of Settlement, or “SOS”, which is designed to organize and simplify the steps required for settling an estate. Read More
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