How to set up a trust now that my husband has passed?

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How to set up a trust now that my husband has passed?

My husband passed away 5 months ago from a heart attack. He left no Will for me and his kids who are grown. I went to the bank to try and get money from his accounts to pay for the funeral but they told me I was not on the account and had to set up a trust, which I know nothing about or how to do this. Can you please give advice on how to do this?

Asked on June 9, 2012 under Estate Planning, Mississippi

Answers:

M.T.G., Member, New York Bar / FreeAdvice Contributing Attorney

Answered 9 years ago | Contributor

I am so sorry for your loss.  I am unsure that a trust is an option for you at this point in time given that the money is in your husband's name onle.  You would need to open a probate for his estate and be appointed as the personal representative in order to access the funds. A portion of those funds would also go to his cheilren under the intestacy statutes in your state.  Please seek help.  Good luck.


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