Clear legal guidance for trustees carrying out their duties

Trust Administration Attorney Pinecrest, FL: Trustee Guide

A letter arrives, or a relative mentions it at dinner. You’re named in a trust, and nobody has said what happens next. Trust administration is the work of managing trust assets and distributing them under the trust document and Florida law after the person who created the trust dies or becomes incapacitated. The trustee does that work, and Florida law sets the duties that apply.

What Trust Administration Means for a Pinecrest Family

Trust administration is the process a trustee follows to collect, manage and distribute trust property. Usually the successor trustee carries out this work, not a court. The trust’s terms set the path.

A Pinecrest family might hold a home, bank and brokerage accounts, and a vehicle in one trust. Each asset needs its own plan, and the trust document decides who gets what and when.

Florida sets the standard for the trustee. Under Fla. Stat. § 736.0801, once a trustee accepts the trusteeship, the trustee must administer the trust in good faith. The trustee follows the trust’s terms and the interests of the beneficiaries.

Timing matters too. Under § 736.0701, a designated trustee who does not accept within a reasonable time after learning of the designation is deemed to have declined. Don’t let a named role sit untouched.

Trust Administration Compared With Probate in Florida

Trust administration and probate are different processes, and the difference often decides which steps apply. Assets held in a revocable trust can pass outside probate. Assets left outside the trust may still need probate.

ACTEC’s explainer on probate describes probate as the court-supervised process for settling an estate. In probate, a personal representative (often called an executor) manages the estate under that court supervision.

A trustee works differently. The trustee manages trust property under the trust’s terms and the Florida Trust Code (Chapter 736). The trustee owes duties to the beneficiaries and must keep the records and notices that the Trust Code requires.

Families often mix these up. A house titled in a trust and a bank account in a deceased parent’s name follow different paths. Sorting out which asset goes where is one of the first jobs in any administration.

Core Duties of a Florida Trustee

A Florida trustee must act prudently and keep clear records. Both duties are set by statute, and both carry real consequences if ignored.

Under Fla. Stat. § 736.0804, a trustee must administer the trust as a prudent person would. The trustee must use reasonable care, skill and caution.

Under § 736.0810, a trustee must keep clear, distinct and accurate records. The trustee must also keep trust property separate from the trustee’s own. Paying a personal bill from a trust account mixes trust money with personal money, which is exactly the problem this rule addresses.

A trust accounting must be reasonably understandable. Under § 736.08135, it must show all cash and property transactions and significant transactions. It must also show compensation paid to the trustee and the trustee’s agents.

Keep receipts, bank statements and a dated log of major decisions from day one. A clear record makes questions easier to answer later.

Beneficiary Rights and Where Disputes Usually Start

Beneficiaries have real information rights. A beneficiary who feels left in the dark has clear options under Florida law.

Under Fla. Stat. § 736.0813, for an irrevocable trust created, or a revocable trust that became irrevocable, on or after the effective date of the Florida Trust Code, the trustee must notify the qualified beneficiaries within 60 days after the trustee acquires knowledge of the creation of the irrevocable trust, or acquires knowledge that a formerly revocable trust has become irrevocable, whether by the settlor’s death or otherwise. The notice must cover the trust’s existence, the identity of the settlor or settlors, the right to request a copy of the trust instrument, the right to accountings, and that the fiduciary lawyer-client privilege in s. 90.5021 applies to the trustee and any attorney employed by the trustee, but this does not affect the crime or fraud exception to the lawyer-client privilege provided in s. 90.502(4)(a).

Under § 736.0813(2), a qualified beneficiary may waive the trustee’s duty to account under paragraph (1)(d), and a waiver or a withdrawal of a prior waiver must be in writing.

Common friction points include delayed distributions, use of a home or vehicle, unclear asset values, and fees or expenses. ACTEC’s guidance on estate settlement notes that disagreements among beneficiaries, family members or creditors can lead to court involvement.

When a trustee breaches a duty, a court has remedies. Under § 736.1001, the court may remedy a breach of trust that has occurred or may occur in several ways the statute lists. These include compelling the trustee to perform the trustee’s duties, ordering a trustee to account, and removing the trustee as provided in s. 736.0706. It may also reduce or deny the trustee’s compensation. Trust litigation handles these disputes. The firm advises and represents trustees, personal representatives and beneficiaries, so each side gets advice based on the facts.

How Trust Counsel Works With Pinecrest Trustees and Beneficiaries

Trust Counsel, PL is a Coral Gables, Florida trusts and estates law firm. Its only office is in Coral Gables. We serve clients in Pinecrest.

The firm does not serve as trustee or personal representative. Trust Counsel’s attorneys can serve individually as trustee or personal representative. The firm advises and represents trustees, personal representatives and beneficiaries.

The firm focuses on probate litigation, trust litigation, trust administration and estate planning. Leslie V. Marenco is the lawyer responsible for this page. Tanya Vega is also one of the firm’s lawyers.

Common Questions

Talk With Trust Counsel About Your Pinecrest Trust

If a trust names you trustee or beneficiary and you don’t know what to do first, a free discovery call is a good place to start. The first meeting is a free discovery call, confidential and with no obligation to continue.

Bring the trust document, the date of death or incapacity, and recent account statements if you have them. The right next step depends on the facts.

If a trust has landed on your desk and you’re unsure whether to accept, call (305) 707-7126 or schedule online with Trust Counsel for your free discovery call.