A Trustee must perform most all tasks which are required of a personal representative (executor) in connection with the administration of a trust.
- — It is important to consider hiring an attorney to assist in a Trust Administration in Florida. The trust administration process involves a variety of legal and administrative tasks that can be complex and time-consuming. Even small mistakes can be costly, both in terms of time and money, and can result in disputes among beneficiaries or challenges against the trust or even as to the validity of the trust itself.
- — A Trustee is burdened by numerous administrative duties and is held to the standard of a prudent fiduciary. An attorney can help to manage these administrative duties, ensuring that they are carried out in accordance with the trust document and The Florida Trust Code Chapter 736.
- — A trustee may be held personally liable for any mistakes during the administration, and this can result in loss of time, personal/professional embarrassment, as well as financial losses. An attorney can help to minimize the risk of personal liability by providing legal guidance and ensuring that all legal and administrative requirements are met.
- — In sum, hiring an attorney to assist in a Trust Administration by the Trustee is important to ensure that the administration of the trust is carried out in a legally compliant, efficient, and equitable manner, and to ensure that the trustee fulfills their fiduciary duties and minimize the risk of disputes among beneficiaries or challenges to the trust.
No matter how complicated the situation or the assets in your loved one’s estate, our team is here to give you the solutions-focused guidance you need at every step.