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Practice Area
Trust Administration
Experienced guidance for both Trustees and Beneficiaries, ensuring the Trust is administered in accordance with the law and to its intended successors.
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Experienced Guidance
Trust Administration Matters
While many Trusts have been sold on the premise that family members of a deceased loved one will save money and time, there may be some pitfalls to that general rule. Trustees owe a fiduciary duty to Trust beneficiaries, and ignorance of the law is no excuse for the Trustee's misconduct or mismanagement.
Spiegel Law, PLLC is here to assist Trustees with the Trust Administration process from start to finish, and can provide as much, or as little, assistance as required by the Trustee.
Spiegel Law, PLLC is here to assist Trustees with the Trust Administration process from start to finish, and can provide as much, or as little, assistance as required by the Trustee.
Trustee Responsibilities Include:
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File a Notice of Trust with the clerk of the court
Identify, gather, safeguard, and inventory the Trust assets
Determine fair market value and secure assets until distribution
Maintain banking and tax records and pay legitimate final bills and debts
File tax returns and pay any taxes due
Distribute Trust assets in accordance with the Trust Agreement
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Although Trust Administration is generally done without court supervision, the assistance of an attorney who is well versed in Trust Administration is strongly recommended.
Comprehensive Support
Our Trust Services
The Trust Administration process generally involves the following steps, and we can assist with as much or as little of it as the Trustee requires.
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Notice of Trust
Filing the notice of trust with the court, which puts creditors on notice of the trust's existence.
Trustee Guidance
Guidance for Trustees on their fiduciary duties, from start to finish.
Asset Distribution
Dividing and distributing the trust assets to the beneficiaries in accordance with the amounts set forth in the schedule.
Inventory & Accounting
Preparing an inventory of the trust assets and an accounting for the beneficiaries.
Beneficiary Guidance
Helping beneficiaries understand their rights and confirm the Trust is being administered according to the law.
Tax ID & Tax Filings
Obtaining a tax ID number, determining whether any estate tax is due, and filing the necessary tax forms.
Why Proper Administration Matters
Benefits of Professional Guidance
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Asset Protection
Proper administration protects trust assets and maintains their intended benefits.
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Family Harmony
Clear communication and fair administration helps prevent family disputes.
Legal Compliance
Stay in full compliance with Florida trust law and avoid potential liability.
For Trustees
If you've been named as a trustee, you have significant legal responsibilities. We guide you through every aspect of trust administration to ensure you fulfill your duties properly and avoid personal liability.
Understanding your fiduciary duties
Managing trust assets properly
Making appropriate distributions
For Beneficiaries
As a trust beneficiary, you have rights to information and proper administration. We help ensure trustees are fulfilling their obligations and that your interests are protected.
Understanding your beneficiary rights
Reviewing trust accountings
Addressing trustee concerns
Need Trust Administration Help?
If you are a Trustee and are looking for guidance with a Trust Administration matter, give us a call today to schedule an initial consultation with our knowledgeable Trust attorney.
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