Small Estate Affidavit - Transfer of a Deed of Trust

When a person passes away and they have a modest probate estate, for example $150,000 or less in gross assets, beneficiaries may collect the estate using a small estate affidavit. The figure of $150,000 is used because that is the threshold for determining whether or not an estate must be probated or not. For instance, if the decedent passed away with a probate estate worth $170,000, then probate would be required. Conversely, if the decedent passed away with a probate estate worth $120,000, then no probate would be required. Consequently, the small estate affidavit procedure can be used to collect the decedent's estate in such case.

Of note, California until recently had a probate threshold of only $100,000. This was only recently increased to $150,000 effective January 1, 2012.

Many people have inquired over the years if the affidavit has to be filed with the probate court. The short answer is no, the affidavit does not have to be filed with the court. Frankly, absent extreme circumstances, the affidavit will not be filed with the probate court. Although for the transfer of a beneficial interest in a deed of trust, the affidavit needs to be recorded. 

Probate Code §13106.5(a) requires that "if the particular item of property transferred under this chapter is a debt or other obligation secured by a lien on real property and the instrument creating the lien has been recorded in the office of the county recorder of the county where the real property is located, the affidavit or declaration described in Section 13101 shall be recorded in the office of the county recorder of that county and, in addition to the contents required by Section 13101, shall include both of the following: (1) The recording reference of the instrument creating the lien and (2) A notary public’s certificate of acknowledgment identifying each person executing the affidavit or declaration.

The easiest way to obtain the information to complete the affidavit is to acquire a copy of the recorded deed of trust. Since a deed of trust is a recorded document, acquisition of such should not an obstacle. Websites such as datatree.com can be used to obtain these documents for a fee. I used datetree.com, formerly docedge.com, in the past to locate real property records and was please with their service  

A bizarre aspect of this law is that it asks for a notary's acknowledgement when notarizing the affidavit. Yet in California, the correct notarization for an affidavit is a jurat. Hence, when I had to draft an affidavit that transferred a beneficial interest in a deed of trust I was confused about the notarization aspect (I am also a notary). I opted to follow Probate Code §13106.5 because apparently the California legislature decided to alter the notarization requirement for this type of affidavit.

California Estate Tax and other Topics

The following are the most common search terms for 2012 that have yielded results for my blog. I thought I would write about this because readers might be curious as to what other people commonly research. The following terms are in order of most frequency.

1. California Estate Tax

This search term strikes me as odd because there is no California estate tax. Furthermore, California has not had an estate tax since 2004. In other words, people are looking for something that does not exist, e.g. Bigfoot, a unicorn, etc.

Unfortunately the amount of legal misinformation on the Internet is expansive. It should not come as a surprise then that people cannot be sure about what they read. Hence, they do some Internet research to see what is true and what is not.

2. Heggstad Petition

This might be the most common probate petition. 

Essentially, a Heggstad petition is where a successor trustee of a trust seeks a court order to transfer property, commonly a home, into the trust because the settlor, the person who originally wrote the trust, never formally did so when they were alive.

3. Small Estate Affidavit California

If a person's estate is small enough, less than $150,000 gross in 2012, a person may collect such assets through the use of an affidavit rather than formal probate.

The valuation amount was increased to $150,000 from $100,000 starting January 1, 2012.

A common erroneous perception of many clients I have spoken to is that real property may be transferred this way. Real property transfers require an abridged probate procedure.

4. California Estate Tax 2012

See # 1

5. California Inheritance Tax 2012

The term used for the at-death tax imposed by the government is called the "estate tax." The "inheritance tax" is presumably a more informal method of saying it. Of note, opponents of the estate tax like to use the term "death tax" when describing it. All three terms: (1) estate tax, (2) inheritance tax and (3) death tax have the same meaning.

6. California Small Estate Affidavit

This proves that not every mind thinks alike. Some Internet users like to lead with California while others like to trail with California.

7. California Inheritance Tax

See # 5

8. CUTMA

This is the acronym for "California Uniform Transfers to Minors Act." 

A CUTMA is a hybrid between a trust and a guardianship where a custodian has control over a minor's assets to utilize for the minor's benefit until they reach a certain, at most 25 in California.

9. Special Needs Trust California

A SNT is an irrevocable trust designed to maintain government resource eligibility for a disabled individual while simultaneously allowing the trustee access to trust funds to benefit the beneficiary, i.e. the disabled individual, for specific purposes.

This is a technical type of trust that requires much more planning and administration than a regular living trust.   

10. Inheritance Tax California

Apparently most people use the term "inheritance tax" when they think of the estate tax.

Small Estates involving Real Property

If a homeowner passes away, it is often the case that the beneficiaries will have to go through probate in order to pass title unless the property is held in joint tenancy or in trust. An exception to this general rule is where  the gross value of the decedent’s real and personal property in California does not exceed $150,000. Prob C § 13151.  The valuation limit used to be $100,000 but this was increased to $150,000 on January 1, 2012. Thank you California legislature.

The petition is usually filed in the county where the decedent owned real property and may be filed once 40 days have elapsed since the decedent's death. Prob C §13151. The form for this procedure is Judicial Council Form DE-310. The petition will need to include a completed Inventory and Appraisal (Judicial Council Forms DE-160, DE-161), verifying the value of the property. Prob C §13152(a)(2), (b). Once filed, the petitioner needs to serve notice on the heirs, executors and/or trustees. Prob C § 13153. If the  petition is appropriately completed and notice is served on the correct parties, the probate court judge will sign the form and this form should be recorded with the county recorder's office. This order is conclusive for passing title. Prob C § 13155.

One key aspect of this procedure is that it relates to real property, as opposed to personal property. If the decedent had only personal property in their estate, e.g. a bank account and some stocks, this procedure would not be needed. Instead, the beneficiaries could utilize the small estate affidavit to collect the asset(s). Still, if the decedent had a mixture of real and personal property, the petition to determine succession to real property could be used to collect both types of property. 

If the beneficiary is the decedent's spouse, the spouse should not use this procedure because there is a valuation limit of $150,000. Instead, the spouse should use the spousal property petition.

The following examples illustrate when the petition to determine succession to real property is used and not used.

Lionel Ozil's estate consisted of a bank account, stocks and bonds worth $125,000. Since his estate is worth less than $150,000, the small estate affidavit could be used to collect these assets.

Thierry Van Persie's estate consisted of a home in Campbell, CA worth $500,000, held in joint tenancy with his brother Arjen, and a bank account worth $50,000. Since the home was held in joint tenancy, the beneficiaries do not have to use the petition to determine succession to real property for the Campbell home. As for the bank account, since it is under $150,000, the small estate affidavit can be used.

Theo Chamberlain's estate consisted of a home in Campbell, CA worth $250,000, held as a tenant in common with his brother Alex and a 2,000 shares of ATT stock worth $8,000. Since the home was held as a tenant in common by Theo, probate would be required albeit formal probate would not be required because the value of the estate was less than $150,000.  That is, the petition to determine succession to real property could be used to transfer Theo's interest in the property to his beneficiaries.

Probate Deadlines in California

There are deadlines in life for everything. Administering an estate is no different. The following are some deadlines that apply to various estates. Failure to observe these deadline may result in penalties or liabilities for the offending party.This is not an exhaustive list of all responsibilities for reference.

• The custodian of the decedent's original will must (1) lodge the original will with the clerk of the county where the decedent resided at the time of death and (2) mail a copy of the will to the named executor within 30 days of learning of the death. Prob C §8200.
• If the decedent had a probate estate worth $100,000 or less, a minimum of 40 days must elapse before an affidavit can be executed and presented to a holder of the decedent's assets for recovery. Prob C §13100.
• When a trust becomes irrevocable or a change in trustee of an irrevocable trust occurs, the trustee must serve notice to various parties no later than 60 days after the occurrence of the event requiring service of the notification, or 60 days after the trustee becomes aware of the existence of a person entitled to receive notification if that person was not known to the trustee at the time of the occurrence of the triggering event. Prob C §16061.7
• A person receiving a 16061.7 notice has 120 days to contest the trust from the date the notice is served on him or her, or 60 days from the date when a copy of the terms of the trust is mailed or personally delivered to the person during that 120-day period, whichever is later. Prob C §16061.8.
• If the decedent received Medi-Cal or was the surviving spouse of a person who received benefits, a Medi-Cal notice must be sent to the California Department of Health Services within 90 days from the date of death and must include a copy of the decedent's death certificate. Prob C §215
• Once a will has been admitted to probate, a petition for revocation of probate must be filed within 120 days. Prob C §8270(a)
• If the decedent owned real property, a Preliminary Change of Ownership Report (PCOR) must be filed within 150 days of the date of death even if the transfer was through the medium of a trust. Rev & T C §480(b).
• The estate tax return is due within 9 months after the date of decedent's death. IRC §6075(a).

Small Estate Affidavit

An interesting bill is currently weaving its way through the California legislature. This bill, AB 1305 (Huber), would alter the valuation limits for a small estate affidavit. According to an Assembly floor analysis this bill:

“1. Increases, from $100,000 to $150,000, the maximum value of a decedent's estate for which an affidavit or declaration to collect decedent's personal property outside the formal probate process may be used.

2. Increases, from $100,000 to $150,000, the maximum value of a decedent's estate, for which a simplified petition to collect an interest in real property outside the formal probate process may be used.

3. Increases, from $20,000 to $50,000, the maximum value of all real property in decedent's estate, for which an affidavit to transfer decedent's interest in real property may be used outside the formal probate process.

4. Increases, from $5,000 to $15,000, the amount of salary or other compensation owed to the deceased spouse by an employer that a surviving spouse can collect outside of the formal probate process, and eliminates the cost-of-living adjustment. Exempts from decedent's estate up to $15,000 of the deceased spouse's salary or compensation owed by the employer.”

For reference, the existing small estate affidavit law, as summarized by an Assembly floor analysis, is as follows: 

“1. Allows for the use of an affidavit or declaration to collect decedent's personal property outside of formal probate, where the gross value of decedent's real and personal property, unless exempt, does not exceed $100,000.

2. Allows for use of a simplified petition to collect decedent's interest in real property, where the gross value of decedent's real and personal property, unless exempt, does not exceed $100,000.

3. Allows for use of an affidavit to collect decedent's interest in real property, where the gross value of all real property owned by the decedent in California, unless exempt, does not exceed $20,000.

4. Excludes certain property from inclusion in the decedent's estate for purposes of determining the value of the estate, including property held in a revocable trust and up to $5,000 of salary or other compensation owed to the deceased spouse by his or her employer.

5. Allows a surviving spouse to collect, outside of formal probate, salary or other compensation owed to the deceased spouse by an employer, in an amount not to exceed $5,000, subject to a cost-of-living adjustment."

The Trusts and Estates Section of the State Bar of California is in favor of this bill since the last time the small estate affidavit valuation threshold was raised was 1996, whereby the law, in the State Bar’s eyes, needs to be amended to reflect the rise in inflation since then. It is likely that this bill will pass the California legislature as it has unanimously passed each vote for passage. If this is ultimately the case, the signature of Governor Brown would be the only remaining hurdle before this bill becomes law.

Small Estate Affidavit

Here are some of the most commonly asked questions in regards to a small estate affidavit:

1. Is there an official small estate affidavit form?

No, there is no official small estate affidavit form.

2. Where can I obtain a small estate affidavit form?

Various websites have sample forms which can be downloaded which satisfy the requisite criteria for a small estate affidavit. There is no need to purchase a form from a stationary store. Save your money.

3. What date do you use for the valuation of the decedent’s estate?

The date of death is the date used for determining the value of the decedent’s estate. Prob C §13052. This does not pose a major concern for assets such as publicly-traded stock or a bank account. Yet for assets such as a LLC or partnership interest or non-publicly traded stock, an appraiser might be required due to the fluid valuation of those peculiar assets.

4. Can I still file for probate even though small estate affidavit is available?

Yes, small estate affidavit is an optional process whereby a person is always free to petition for probate if so desired.

5. What are some reasons why a person would use a small estate affidavit?

Generally speaking, the small estate affidavit process, as opposed to probate, is economical and expedient.

6. What are some reasons why a person would not use small estate affidavit?

It is common today for a decedent to leave behind an estate that is bordering on insolvency. Since a beneficiary is liable for the decedent’s debts, a beneficiary is barred from stripping an estate of its assets while leaving intact the estate’s liabilities. In light of this, a beneficiary might petition for probate in order to sort out the decedent’s liability to avoid future problems.

For example, assume that Danny Decedent left behind an $85,000 estate. The $85,000 was composed of a $40,000 bank account and $45,000 in Southern Company stock, a stock traded on the New York Stock Exchange. Conversely, Danny’s estate had $65,000 in liabilities, namely hospital bills. A beneficiary of Danny’s estate might consider using the probate process to inherit Danny’s estate to ensure that all debts are paid off before the assets of the estate are distributed. This would avoid the possibility of the hospital pursuing the beneficiary in the future to satisfy Decedent’s debts.

7. Do statutory probate fees attach to small estate affidavit?

No, attorney fees are set by private agreement between the attorney and client, not by statute for the small estate affidavit process.

8. What happens if the holder of the decedent’s property does not comply with the small estate affidavit process?

A beneficiary may file a lawsuit against the holder of the decedent’s property to compel the holder to release the property to the beneficiary. Prob C §13105(b). If the court finds that the property holder acted unreasonably, the beneficiary shall be awarded attorney fees. Prob C §13105(b).

9. What type of asset is most commonly the subject of a small estate affidavit?

The asset most commonly obtained via the small estate affidavit is a bank account. Of note, a bank account may be easily transferred outside the small estate affidavit process if the decedent names a pay-on-death beneficiary to the account (“P.O.D.”). 

California Probate

Here are some common questions associated with probate. 

1. What is probate? 

In short, probate is a court-supervised procedure for collecting a deceased person's assets, paying debts and taxes to the appropriate parties, and distributing the remaining property to the person's beneficiaries.

The distribution of the beneficiaries’ property is accomplished through either the instructions the person set forth in their will or as determined by state law if the person died without a will, which is called “intestacy.” Conversely, if you die with a will, you die “testate.” 

2. When does probate occur?

Generally speaking, probate occurs when a person passes away and their estate is comprised of assets totaling more than $100,000 which are not subject to non-probate transfers or held in a revocable trust. Non-probate transfers would include life insurance contracts, assets held in joint tenancy, pay-on-death bank accounts, transfer-on-death stocks, etc.

3. If I write a will can I avoid probate?

No, all wills are probated. Thus, writing a will would not prevent your estate from being probated.

4. Why do people try to avoid probate?

The two main reasons why people would like to avoid probate is due to the time and cost involved. See Questions #5 and #6.

5. How long does probate last?

It is difficult to definitively state how long probate will last because the probate timeline is driven by the amount of court filings in each county’s superior court and the probate’s complexity. For instance, in a simple probate in a smaller county such as Modoc or Alpine, probate could be completed in as little as 6-8 months. Conversely, in a larger county such as Los Angeles or Santa Clara with a more complex probate, the process could easily take 12-14 months to complete.

6. How much is the attorney and personal representative compensated?

The amount of compensation is based off of the value of the person’s estate, which is basically everything they own. Prob C §§ 10800, 10810. The attorney and personal representative are, generally speaking, compensated in the same manner as provided for below:

Estate Value               Fee for Attorney and Personal Representative

$100,000                    $4,000

$200,000                    $7,000

$300,000                    $9,000

$400,000                    $11,000

$500,000                    $13,000

$600,000                    $15,000

$700,000                    $17,000

$800,000                    $19,000

$900,000                    $21,000

$1,000,000                 $23,000

Furthermore, the fees for both the attorney and personal representative may go higher for extraordinary services such as selling a house, defending a will contest, or litigating a matter. Prob C § 10811.

What is particularly important about the estate value calculation is that encumbrances, such as a mortgage, are not included in the probate calculation. Prob C § 10810(b). Thus, if the decedent had a house worth $500,000 on the date of death but had a mortgage of $300,000 on the property, the probate estate would be valued at $500,000 not $200,000. This is a significant difference because the fee for $500,000 is $13,000 while the fee for $200,000 is $7,000.

6. What happens if probate is not needed?

There are numerous procedures that are used in lieu of the formal probate process: small-estate affidavit, spousal property petition, non-probate transfers or trust administration.

7. How many steps are needed to complete the probate process?

The answer to this question varies because there are a few probate filings that are not mandatory. Thus, one probate might include the optional filed document whereas another probate will not. If you are really bored, you can call my office and I can pull out my probate checklist from my desk and rattle off the required probate steps to aid your boredom.

8. What is the first step in the probate process?

The first step in the probate process is to lodge the decedent’s will with the local probate court.

9. What is the last step in the probate process?

The last step in the probate process is to transfer the assets from the decedent’s estate to the beneficiaries. This can be done only after numerous steps have been completed however.

10. What is a personal representative?

A personal representative is the individual entrusted with executing the probate process from start to finish.

11. How is a personal representative chosen?

A personal representative is usually chosen through either designation in a will or if the decedent wrote no will, then through a next of kin formula found in Prob C § 8461. This next of kin formula basically says that the closest relative to the decedent has priority to become the personal representative.

12. Can the personal representative be removed?

Yes, just as a trustee of a revocable trust can be removed, so too can a personal representative. For example, per Prob C §8502, the personal representative may be removed in the following situations:

1. The representative has wasted, embezzled, or mismanaged the estate property, or committed a fraud on the estate or is about to do so;
2. The representative is incompetent to act;
3. The representative has wrongfully neglected the estate;
4. The representative has long neglected to perform any acts as representative;
5. Removal is necessary for protection of the estate; or
6. The representative is subject to removal for any other cause provided by statute  

13. Can you make an early distribution of a probate estate?

Yes, a personal representative may petition the probate court to allow an early distribution of the probate estate. Prob C §11620. Although, the aggregate amount of all property that can be distributed is limited to 50 percent of the net value of the estate. Prob C §11623(a)(2). Thus, in the case of a $1,000,000 probate, the personal representative could not distribute more than $500,000 to the beneficiaries.

Otherwise, the distribution of the estate can only occur after probate has been completed.

14. Are there advantages to probate?

Yes, there are advantages to probate. If an attorney ever tells you that there is nothing positive about probate, they are fibbing.

For example, since probate is a court-supervised process, the beneficiaries can be assured that the personal representative will faithfully execute their duties or else suffer monetary punishment. However, given the time and cost involved with probate, the disadvantages of probate outweigh its advantages typically.

15. What role does an attorney serve during probate?

The attorney’s role is to supervise the personal representative during the execution of his or her duties. Consequently, the attorney will make sure that the personal representative is filing the right documents at the appropriate time in the correct fashion.

There is no requirement that an attorney be hired to assist a personal representative in handling a probate. However, it is preferable because the practice of law is what lawyers are trained to do. Or at least that is what I was told in law school. In contrast, the personal representative often has little exposure to the legal realm other than what they have seen on television or in the movies, which is often times a gross exaggeration of reality. Sad but true.

16. How common is probate?

Probate used to be the dominant form of post-death administration for a decedent’s estate. 

However, due to prevalence of revocable trusts (“living trusts”) which are exempt from probate and non-probate transfers such as pay-on-death bank accounts, the frequency of probate is gradually decreasing.

17. When will probate typically occur?

The easiest way for a probate to be required is for an individual to own their home in their individual capacity and die with or without a will. For example, if John Smith was the sole owner of 2176 El Capitan Ave Santa Clara, CA 95050 and died, a formal probate would be required because the home’s value would exceed $100,000 and the home was not held in joint tenancy or transferred to a revocable trust. Thus, John’s personal representative would need to navigate the probate process in order to distribute the house to John’s beneficiaries. 

Small Estate Affidavit

My relative recently passed away, do I need to go through probate?

Fortunately, California has a simplified probate procedure when the value of the decedent's personal property estate does not exceed, subject to certain exceptions, $100,000. This process is commonly referred to as "small estate affidavit" or "small estate declaration." Collection via small estate affidavit allows a person to receive an inheritance by presenting an affidavit or declaration to the holder of the decedent's personal property, a bank for example. It is one of the three methods for collecting small estates without a formal probate proceeding. The other two pertain to obtaining real property and are infrequently used.

AUTHOR'S UPDATE: The valuation threshold has changed. The bill discussed in this subsequent post became law in 2012. 
 
Small estate affidavit may be used be either the beneficiaries named in a will or a trust, or the decedent's intestate heirs if the decedent had no will. Prob C § 13100; Prob C §§ 6401 - 6402. For example, if you were named in your late relative's will as a beneficiary and their estate was quite modest, then you could take advantage of the small estate affidavit process.

In order to qualify, (1) the gross fair market value of the decedent's personal and real property assets in California must be less than $100,000, subject to exclusions found in Prob C § 13050, and (2) 40 days have elapsed since the decedent's passing. Prob C § 13100. 

The exclusions found in Prob C § 13050 include real property held in joint tenancy, multiple party bank accounts, payable on death bank accounts, assets held in a revocable trust, life insurance contracts, etc. Thus, if the decedent owned a home in joint tenancy,  took out a substantial life insurance policy which named a beneficiary or left their favorite cousin as the pay on death beneficiary of their bank account, none of these assets would count towards the $100,000 limitation.

The 40 day waiting period provides the beneficiaries the opportunity to collect the decedent's bills: television, Internet, phone, credit card, utilities, etc., since the billing cycle is often 30 days. This is particularly important because the beneficiary of the decedent's estate is liable for the decedent's outstanding debts, but only up to the value of the transferred property. Prob C §§ 13109, 13112. For instance, if Danny Decedent left Bobby Beneficiary with a $50,000 inheritance and $90,000 in credit card debt, Bobby would not be liable for the unpaid balance of $40,000.

The required contents of the affidavit are found in Prob C §§ 13110-13116. 

Below is an explanation of the the small estate affidavit process: 

(1) The beneficiary needs to provide evidence that the decedent actually owned the property the beneficiary is inheriting. Prob C § 13102(a). 

For example, if the decedent had a Wells Fargo savings account, the beneficiary could provide the bank with a recent bank statement of the decedent. 

(2) The beneficiary needs to provide a certified copy of the decedent's death certificate. Prob C § 13101(d). 

The fee for a certified death certificate is nominal. For example, in Santa Clara County, the fee is $12. 

(3) The beneficiary needs to provide proof of identity. Prob C § 13104. 

This can most easily be accomplished if the beneficiary has the declaration notarized by a notary public.  

(4) If the decedent owned real property in California, an inventory and appraisal by a referee of that real property. Prob C § 13103. 

For example, the decedent owned open space in Willits, that was not valued over $100,000. 

(5) If the decedent's probate is pending and the decedent's personal representative has consented to payment, transfer or delivery of the property to the declarant or affiant, a copy of the consent and of the personal representative's letters, attached to the affidavit or declaration Prob C § 13101(e).  

Unlike attorney fees for a formal probate proceeding, attorney fees for summary procedures are not set by statute but rather by private agreement between the client and attorney.  

Avoid Probate

Formal probate is essentially the process in which a person's assets are collected, debts paid off and the remaining balance of the decedent's assets are distributed to the decedent's heirs. 

If given the choice, people would rather avoid formal probate. The reason for this is the cost of probate, thousands of dollars typically, and the time it takes to complete probate, 7 months at a minimum. In light of this, a common question in estate planning is "how can I avoid going through probate when my relatives pass away." The good news is that the following situations do not require formal probate:

1. Non-probate transfers

Real and personal property passing outright to a named beneficiary without the need for formal probate administration is explained in detail here.

2. Transfer to surviving spouse or domestic partner

A surviving spouse or domestic partner is entitled to use an expedited probate procedure, a court-submitted petition, to transfer the deceased spouse's property to the survivor. Prob C §§13500-13660. However, spousal probate is purely optional as all or any part of decedent's estate can be transferred via formal probate as well. Prob C §§13502-13503. The form that is filed with the appropriate Superior Court is DE-221.

3. Transfer of Small Estates

There are 3 types of small estate transfers: (1) personal property assets passing under small estate declaration, (2) transfer of real property via a  court order determining succession and (3) transfer of real property via affidavit. Options (2) and (3) are seldom invoked because the limit to transfer real property for those options is very low and the price of California real property is quite high. In the case of option (2), the value of the real property must not be greater than $20,000. In the case of option (3), the gross value of the decedent's real and personal property in California must not exceed $100,000. Hence, option 1 is the most commonly used amongst small estate transfers.

Revocable Trusts and Probate

One of the reasons why living trusts in California are so popular is because of the surge in real estate prices over the past couple of decades.

Despite the past couple of years, real estate prices in California have increased tremendously when adjusted for inflation during this time. The result is that many estates that were previously probate ineligible became probate eligible.

For example, the magic number before an estate becomes probate eligible is $100,000 subject to a few qualifications. Since it is difficult to find a parcel of real property worth less than $100,000, a person is left with the choice of either having to go through probate or draft a living trust to pass the real property to their beneficiaries upon their death. Although a living trust is not a panacea for post-death administration, most people find it preferable to probate due to savings in cost and time.