What happens to a revocable trust when the grantor dies?

A revocable trust, while the grantor is alive, is fairly flexible inasmuch as it can be amended or altered, even utterly revoked, thereby giving the grantor full control of his property at all times, turns into a rigid and fixed instrument in the eyes of the law upon the death of such a trust's grantor. However, once the grantor dies, the trust becomes irrevocable; hence, whatever has been set while he was alive cannot be changed anymore, and whatever was set in the trust document is considered final once and for all.

During this stage, the successor trustee selected by the grantor assumes full responsibility in handling the trust: marshaling the assets of the trust, paying outstanding debts and taxes, and making sure that the correct and timely distribution of assets is done among beneficiaries. One of the key benefits associated with a revocable trust involves the way it avoids probate: often a lengthy, expensive process, and a very public one for that matter. By allowing the avoidance of probate, the trust guarantees efficiency and privacy in distributing the assets while protecting the grantor's estate from unnecessary delays and publicity.

In addition to avoiding probate, another significant advantage of a revocable trust is that it has a tendency to minimize intra-family disputes; it outlines the intentions of the grantor clearly, thus minimizing ambiguity in the distribution of wealth.

At One Pacific Trust, we specialize in making this critical transition as seamless as possible. Our team of highly experienced professionals has deep knowledge in trust administration and guides beneficiaries through the often-complex legal and financial considerations that arise upon the death of the grantor. To this end, we place the greatest emphasis on the sound management and conservation of the estate of the grantor, therefore enhancing the memory of the grantor, and distributing the trust assets with expedition and accuracy in complete accord with the grantor's desires.