Trust Administration

At Freeborn & Freeborn, we provide trusted legal counsel and representation to successor trustees in Florida, helping them navigate the complex responsibilities of administering a trust.

Whether you’re serving as the trustee of a family trust or managing a more intricate estate plan, our attorneys are here to guide you through each step of the trust administration process.

Trust administration involves a series of legal and financial tasks that must be carried out with care, accuracy, and in full compliance with Florida law. As a successor trustee, you have a fiduciary duty to act in the best interests of the trust’s beneficiaries, ensuring that the trust’s terms are honored and that assets are properly managed and distributed.

Our services include advising successor trustees on:

• Fiduciary Duties: We help trustees understand and fulfill their legal responsibilities, which include duties of loyalty, impartiality, and prudence in managing trust assets and making distributions.
• Beneficiary Notifications: We assist in preparing and sending the necessary notifications to trust beneficiaries, ensuring full transparency and compliance with Florida trust law.
• Notice of Trust Filing: We file the required notice of trust with the local clerk’s office, ensuring that all legal requirements are met for the administration process to proceed smoothly.
• Last Will and Testament: We ensure that the decedent’s original will is deposited with the probate clerk’s office, as required by law, and review its provisions in relation to the trust.
• Valuation of Trust Assets: We help trustees obtain accurate valuations of trust assets, whether real property, investments, or other valuables, ensuring a clear understanding of the estate’s worth.
• Collaboration with CPAs: In cases where a federal estate tax return is required, we work alongside certified public accountants (CPAs) to prepare and file the necessary documentation, reducing the risk of errors and ensuring compliance with tax laws.
• Trust Accounting: We assist in preparing detailed and transparent trust accountings, which are critical for maintaining trust beneficiaries’ confidence and meeting legal requirements.
• Distribution Plan: We prepare a clear and fair plan for distributing the trust’s assets in accordance with the trust’s terms, ensuring that each beneficiary receives their rightful share.
• Trust Termination: Once all debts and administrative tasks are resolved, we prepare the necessary legal documents to terminate the trust, ensuring that the remaining assets are fully distributed to beneficiaries and the trustee’s obligations are fulfilled.

At Freeborn & Freeborn, we are committed to providing clear, efficient, and thorough legal support throughout the trust administration process. Our goal is to help successor trustees fulfill their duties while minimizing legal risks, ensuring timely distributions, and protecting the interests of all beneficiaries.