Practice Areas

Florida Trust Lawyers and Trust Administration

If a decedent had a properly drafted and funded trust in Florida, probate is generally not required. Unlike a will, a trust is a private document and need not be filed with the probate court. Nonetheless, the successor trustee must still take steps to administer the trust: Beneficiaries must be contacted and kept informed; the trust-maker’s assets gathered and invested; any debts paid; potential creditors notified; taxes filed and paid; assets and/or income distributed to the beneficiaries in strict compliance with trust provisions.

As professional Florida trust lawyers, we understand that successor trustees often lack the time, resources or knowledge to personally administer the trust. Therefore successor trustees may call upon legal, accounting, and investment professionals for assistance. Our trust lawyers in Florida can help the successor trustee deal with the complexities of trust administration in Florida.

Note: Regardless of whether the trust was drafted by our office, we are available to assist the Trustee.

Practical Tips for the Trustee Recommended by our Florida Trust Lawyers

Use and follow the advice of an experienced Florida Trust Administration attorney to avoid or reduce estate taxes or income taxes and to protect against personal liability for the successor Trustee.
Don’t act hastily or distribute assets of the trust without analyzing the legal and tax consequences.
Follow the terms of the trust exactly. Trust lawyers in Florida have learned that failure to do so can result in charges of breach of fiduciary duty by the beneficiaries against the trustee.
Prepare an inventory and accurately account for all assets and funds that come into the estate.
Obtain receipts and releases for all distributions when they are eventually made and follow all instructions of the trust in order that once the directed distributions are completed, remaining administration of the trust if required for other possible heirs will be able to continue without difficulty.

Learn More

To secure a Checklist Of Action Items For A Trustee following the death of the Trustmaker and a list of Important Documents send a request to info@raricklaw.com. To learn more about the duties of a Trustee go to Trustee Duties.

Experience Matters

Rarick, Beskin & Garcia Vega, P.A. has over 17 years of experience in trust creation, administration, and closure. To schedule a meeting, call (305) 556-5209 or (954) 566-1151, or email info@raricklaw.com.

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