Qualified Trust Administration Lawyers in Florida
A trust can be a useful legal and financial mechanism to hold and distribute one’s assets after the settlor’s death, regardless of the amount of assets the settlor has. A trust is a private document that does not need to be filed with the probate court, maintaining the privacy of the settlor and their assets. Many people spend lots of time and effort creating these trusts to ensure their assets are in place. The next step would be administering the trust when the time comes. If you have been named a trustee for a loved one’s trust, you are responsible for administering it after their passing. This can be an overwhelming responsibility, but you do not need to take it on alone. The expert lawyers at EPGD Attorneys at Law, P.A. can assist you with all aspects of trust administration. You can discuss your case and learn more about how we can assist you by calling (786) 837-6787 or emailing us today.
What Is Trust Administration?
Trust administration is the process of managing the assets within a trust. Suppose a loved one has passed and named you a trustee for the trust holding their assets. In that case, the administration process primarily consists of performing the property transfers in their estate planning documents. However, trustees may also need to manage other assets, contact the decedent’s heirs, and consult with appraisers to determine the value of the assets.
Experienced Legal Counsel When Administering Trusts
At EPGD Attorneys at Law, P.A., we assist trustees with their duties with the ongoing administration of the trust. Although every trust is unique, certain obligations are universal to all trustees, such as:
- Notifying trust beneficiaries and heirs at law of the passing of the settlor;
- Filing a death tax return;
- Depositing the decedent’s will with the appropriate county clerk of the court;
- Making payments of the decedent’s last and ongoing expenses, such as legal and CPA fees;
- Attaining valuations on properties held in trust as of the date of death of the settlor
We can also assist with any other trustee legal duties that may arise after the passing of a loved one. If you are unfamiliar with administering a trust, it is of the utmost importance to consult with a qualified trusts and estates attorney. Proper legal counsel will ensure that you understand the full scope of your responsibilities and may carry them out on your behalf with the interests of your loved one in mind. Do not hesitate to reach out for help. From our offices in South Florida and Washington, D.C., EPGD Attorneys at Law, P.A., represents clients throughout the Miami-Dade area, Washington, D.C., and beyond. Call us at (786) 837-6787 or contact us to schedule a consultation with our Florida trust administration attorneys and learn more about how we can assist you.