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With all claims,debts and expenses paid,you’ll give the remaining property to the rightful heirs and/or as the will directs You’ll also need to pay all applicable taxes,as well as file a final income tax return on the estate Rocklin Probate Law This may require some sleuthing on your part You might need to go through checkbooks,emails and/or bank account to gather information.
You’ll need to ensure the estate’s assets can cover all debts before paying them If not,the state will prioritize creditor claims The main reasons for setting up an irrevocable trust are for estate and tax considerations Rocklin Probate Law Most living trusts are �revocable� because you can change them as your circumstances or wishes change.
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