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[[So, Roy, in these western states, how is the process handled that provides for
creditors of the estate to file proofs of claim against the estate? ]]

I think that Edcosoft basically answered your question, George. But I'll add a few points.

In many cases, lenders will not lend when a "big ticket" item is purchased by the Trust (especially real estate). The lender will generally require the title of the asset (and the loan) to be placed in the name of the individual. And then the loan company will allow transfer of the asset to the trust. But at that time, the lender doesn't care: he has both the property and the individual on the line for payment.

And remember that a living trust (or in most cases, an irrevocable trust) will not allow you to decline payment for services with impunity. The debtor can STILL sue the estate/trust/beneficiaries if there are outstanding obligations that have not been taken care of during the administration of the trust.

It's just that the courts don't get involved directly.

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Roy
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