Clinton, NJ Estate Planning Law Firms & Lawyers

This is very easy.  It will require the preparation of a deed called a quitclaim deed.  The property will go from both parties names, into one party, and both parties will have to sign the deed.  The cost for this is approximately $500 if you have a copy of the recorded original deed.

If the trustee of the trust is also the grantor, a revocable trust usually indicates that upon the death of the grantor/trustee, the assets held in the trust are distributed.  The grantor/trustee could direct that the assets are distributed to the estate, or to beneficiaries, or can remain in trust with the second trust taking over.  What happens is all dependent on the terms of the trust.

The reason you will have to go to probate is to be able to deal with her assets, even though the assets have very little value.  The way that you will get the authority to do this is by probating her will.  Probate is VERY easy and will cost probably no more that $200.  You will then be given letters testamentary which will be evidence that you are the person who has been given the authority.  Having those letters will allow you to sell the car, and dispose of everything.  Because there is no beneficiary named on the life insurance policy, that police will be made payable to the estate, and you will be responsible for distributing the proceeds the way your grandmother wanted.  After probate, reimburse yourself for any costs, pay her last debts, open an estate account at a bank, deposit the proceeds of the life insurance and what ever you get for the sale of the car, and then distribute everything to the people named in the will.