Have you experienced the loss or disability of a loved one with a Florida Trust? If so, you may be wondering what the next step is and how to navigate the legal complexities of serving in the important role of successor trustee. A Florida trust administration attorney can help you determine the next legal steps to take.
Trust Administration in Florida
A Florida trust administration is the legal process for properly administering a Florida trust in order to resolve the distribution of the assets held in trust for the beneficiaries.
A trust becomes irrevocable upon the death of a settlor or grantor (the person who created the trust) and the individual or entity designated to serve as successor trustee will step into his or her place. The complexity of a Florida trust administration will be based upon the number and type of trust assets, the total value of the assets and whether estate tax planning or other tax questions are a concerned. Your Florida trust administration attorney can help you protect and account for all trust assets.
There are essentially nine potential steps to cover from start to completion of a successful trust administration process.
These steps begin with the acceptance of trustee and end with the final accounting and distribution of assets. Failure to follow the steps necessary to complete a successful trust administration may result in substantial liability to the trust and/or the successor trustee.
In evaluating the trust and your goals, your Florida trust administration attorney will explain the process in detail and create an approach that makes sense to resolve your trust administration concerns.
Here at the Gibbs Law Office, we would like the opportunity to assist you as your trust administration attorney with these important matters.
Contact us today to get started OR for a complimentary review of your current trust administration concerns (subject to conditions).
Steven Gibbs is a Florida trust administration attorney who provides complete Estate Planning, Business Planning, Asset Protection, Elder and Medicaid Planning, Real Estate, Probate and Trust Administration legal services throughout the greater Fort Myers, North Fort Myers, Cape Coral, Estero, Bonita Springs and Naples geographic areas and most legal services are available statewide in Florida.
The Gibbs Law Office was founded by Steven Gibbs in January 2009 upon the commitment to provide client-centered legal services.