When a loved one dies, Florida law provides two different ways to settle the remaining estate: a process called Probate, for those who die with a Will or with no final documents at all, and a process known as Trust Administration, for those who have assets held in a Trust.
When the creator of the Trust, known as the “grantor,” passes away, the person who will oversee the Trust, known as the successor Trustee, has several fiduciary duties that must be addressed. One of these is filing a Notice of Trust with the proper Florida court.
A Notice of Trust is essentially a notification to the court. It advises them of the death of the grantor and details basic information regarding the Trust, such as the name of the grantor and his/her date of death, contact information for the successor Trustee and the name of the Trust in question. There is also some legal language that should be included to comply with certain Florida statutes.
The Notice of Trust does not reveal details about the estate or the assets it holds.
The Notice should be filed in the county where the grantor resided and once received, the Clerk of the Court will file (record) the Notice. If there is a probate proceeding also in process, a copy of the Notice will be sent to the designated representative as well.
Filing a Notice of Trust isn’t overly complicated, but it does need to comply with certain statutory requirements. In addition, there are other fiduciary responsibilities that must also be met, so it is important for the successor Trustee to know exactly what to do.
That’s where we can help!
Spiegel Law, PLLC can walk you through the Trust Administration process and help ensure you comply with all Florida statutes and regulations. Our Trust Attorney has the experience you need to feel confident about managing a Trust. Call us today for a free consultation!