TRUSTS

OVERVIEW OF TRUST PROCEEDINGS

Trusts are a way to hold property in which legal and equitable title are separated. The legal title to trust property is held in the trust name solely for the benefit of another. A trust is created by a “settlor” through a written document.  In order to be effective, the trust must be properly funded, such that title to the assets has been transferred from the settlor’s name into the trust name. The trust document allows a “trustee” to manage and distribute trust assets solely for the benefit of the “trust beneficiary.”

Generally, trusts are administered outside of Probate Court.  However, situations may arise that require Court involvement.  For example, a trust may need to be modified, or a trustee may need to be removed.  In those situations, an interested party may file a petition in the Probate Court.  The filing fee is $175 for Trust matters. A hearing will then be set and all interested parties must receive appropriate notice. 

TRUST REGISTRATION

If an individual has created a Trust, he or she may want to register it with the Probate Court. To do so, the individual must complete the Trust Registration form, PC 610 and submit it to the Probate Court along with a $25 filing fee.