Settling Two Estates: Lessons on Trusts, Documentation, and Family Communication

Brynne Malone, founder of Aging Solutions, interviews high school friend Tom Tucker about his experience serving as trustee/executor for two estates. Tom describes settling a friend’s estate that took two years after discovering a trust folder with no trust documents or will, forcing probate, legal fees, and out-of-pocket costs while coordinating with cooperative sisters and managing care-center issues. He then explains the more complex ongoing settlement of his parents’ trust, now over four years, involving many assets, distribution of heirlooms, 10 beneficiaries including special-needs and hardship situations, and differing family expectations and grief. Both discuss how estate settlement can be stressful and that families should “open the vault” by having upfront conversations, keeping trusts updated and funded, clearly documenting wishes, and organizing legal and financial information. Aging Solutions’ “Trinity Plan” documentation system helps to make estate administration faster and less conflict-prone. For more information go to www.AgingSolutionsNW.com or find us on social media for more tips and guidance @AgingSolutions