Trust Administration

Guiding Trustees Through Their Duties

When someone passes away or becomes incapacitated, the successor trustee must step in to manage and distribute trust assets. This responsibility comes with legal obligations that require careful attention to detail.

Trustee Responsibilities

Trustees must manage trust assets prudently, keep accurate records, provide accountings to beneficiaries, file required tax returns, and distribute assets according to the trust terms. Our attorneys help trustees understand and fulfill these obligations.

Trust Funding and Asset Transfer

Proper trust administration includes ensuring all assets are properly titled in the trust's name, transferring assets to beneficiaries, and handling any assets that weren't transferred to the trust during the grantor's lifetime.

Tax Compliance

Trusts have specific tax requirements, including obtaining an EIN, filing income tax returns, and potentially dealing with estate tax issues. We coordinate with tax professionals to ensure all requirements are met.

Beneficiary Communications

Florida law requires trustees to provide certain notices and information to beneficiaries. We help trustees navigate these requirements while maintaining positive relationships with all parties involved.