As trust administration attorneys, we advise and help trustees and personal representatives throughout the Tampa Bay area in their responsibilities to administer the estate of a loved one.
When a trust creator dies, the trustee has the responsibility to ensure all assets are properly dispersed. If you have been named Trustee of a Trust, Deeb Elder Law can provide qualified legal representation. Our attorneys will guide you through the complexities of Estate Administration in Florida. We are very aware that this may be your first time dealing with these legal issues, and will assist you through every step of the process, efficiently and correctly. As a Trustee you have legal obligations to the beneficiaries and others. We can assist you with the proper administration of the Trust.
Administration of Trust Estates
The administration of a trust is governed by the terms of the trust and by specific rules and statutes. Our attorneys will first determine which laws apply to the trust, and then assist you in carrying out your duties as trustee in compliance with the wishes of the settlor.
The scope of administration is dependent on the nature of the trust. An Irrevocable Trust established for tax planning purposes must be administered in accordance with the applicable statutes and rules to avoid incurring unwanted and unnecessary tax consequences. Conversely, a Revocable Living Trust established as an Estate Planning tool is generally administered in accordance with the terms of the trust.
Duty of the Trustee in Florida Trust Administration
Regardless of the nature of the trust, a trustee must marshal, protect and preserve the trust assets. The terms of the trust will dictate the distribution of assets, and the trustee is obligated to follow the directions set out in the trust.
The trustee acts as a fiduciary to the beneficiaries, and must avoid even the appearance of impropriety in all of his or her actions. The trustee should have an attorney who has established expertise in the administration of trust estates.
Different from the publicly held administration of a probate estate, trust administration is a private affair.
Speak with a Pinellas County Trust Lawyer
When you call on Deeb Elder Law, you can be confident that your case is in capable, experienced hands. Our attorneys assist trustees of living trusts and irrevocable trusts throughout the trusts’ existence. We are deeply knowledgeable in all facets of trusts and their relationship to Estate Planning, and can help you administer, create or fund your trusts.