{"id":8824,"date":"2026-11-05T00:42:17","date_gmt":"2026-11-05T00:42:17","guid":{"rendered":"https:\/\/trustcounsel.com\/resources\/professional-trustee-and-executor-services\/professional-trustee-closely-held-business-trust-florida\/"},"modified":"2026-11-05T06:45:47","modified_gmt":"2026-11-05T06:45:47","slug":"professional-trustee-closely-held-business-trust-florida","status":"publish","type":"page","link":"https:\/\/trustcounsel.com\/resources\/professional-trustee-and-executor-services\/professional-trustee-closely-held-business-trust-florida\/","title":{"rendered":"Professional Trustee for Florida Business Trusts"},"content":{"rendered":"\n<div class=\"wp-block-cover alignfull is-dark chg-hero\" style=\"min-height:460px;aspect-ratio:unset;\"><span aria-hidden=\"true\" class=\"wp-block-cover__background has-background-dim-80 has-background-dim wp-block-cover__gradient-background has-background-gradient\" style=\"background:linear-gradient(90deg,rgba(32,36,46,1) 0%,rgba(32,36,46,1) 55%,rgba(32,36,46,0.7) 100%)\"><\/span><img class=\"wp-block-cover__image-background wp-image-8822\" alt=\"Desk in a professional office with legal documents and a folder for a Florida business trust.\" src=\"https:\/\/trustcounsel.com\/resources\/wp-content\/uploads\/2026\/11\/desk-in-a-professional-office-with-legal-documents-and-a-fol-photo.jpg\" width=\"1376\" height=\"768\" srcset=\"https:\/\/trustcounsel.com\/resources\/wp-content\/uploads\/2026\/11\/desk-in-a-professional-office-with-legal-documents-and-a-fol-photo-150x150.jpg 150w, https:\/\/trustcounsel.com\/resources\/wp-content\/uploads\/2026\/11\/desk-in-a-professional-office-with-legal-documents-and-a-fol-photo-300x167.jpg 300w, https:\/\/trustcounsel.com\/resources\/wp-content\/uploads\/2026\/11\/desk-in-a-professional-office-with-legal-documents-and-a-fol-photo-768x429.jpg 768w, https:\/\/trustcounsel.com\/resources\/wp-content\/uploads\/2026\/11\/desk-in-a-professional-office-with-legal-documents-and-a-fol-photo-1024x572.jpg 1024w, https:\/\/trustcounsel.com\/resources\/wp-content\/uploads\/2026\/11\/desk-in-a-professional-office-with-legal-documents-and-a-fol-photo.jpg 1376w\" sizes=\"(max-width: 825px) 825px, 100vw\" fetchpriority=\"high\" decoding=\"async\"\/><div class=\"wp-block-cover__inner-container has-global-padding is-layout-constrained wp-block-cover-is-layout-constrained\">\n<p class=\"chg-eyebrow has-base-color has-text-color wp-block-paragraph\" style=\"text-shadow:0 1px 3px rgba(0,0,0,0.6),0 0 18px rgba(0,0,0,0.35)\">Coral Gables, Florida | Trusts &amp; Estates<\/p><h1 class=\"wp-block-heading has-base-color has-text-color\" style=\"text-shadow:0 1px 3px rgba(0,0,0,0.6),0 0 18px rgba(0,0,0,0.35)\">Trustee Support for Florida Business Trusts, Guided by Counsel<\/h1><p class=\"has-base-color has-text-color wp-block-paragraph\" style=\"font-size:clamp(0.875rem, 0.875rem + ((1vw - 0.2rem) * 0.769), 1.25rem);text-shadow:0 1px 3px rgba(0,0,0,0.6),0 0 18px rgba(0,0,0,0.35)\">Trust Counsel&#x27;s attorneys can serve individually as trustee or personal representative, and the firm advises and represents trustees, personal representatives and beneficiaries of business trusts.<\/p><div class=\"wp-block-buttons is-layout-flex wp-block-buttons-is-layout-flex\"><div class=\"wp-block-button chg-cta chg-cta-call\"><a class=\"wp-block-button__link wp-element-button\" href=\"tel:+13057077126\">Book a free strategy call or call (305) 707-7126<\/a><\/div><div class=\"wp-block-button chg-cta chg-cta-form\"><a class=\"wp-block-button__link wp-element-button\" href=\"https:\/\/trustcounsel.com\/contact\/\">Book a free strategy call or call (305) 707-7126<\/a><\/div><\/div>\n<\/div><\/div>\n\n\n<p class=\"wp-block-paragraph\" style=\"font-size:0.85rem;color:#6b7280;margin-bottom:1.5rem\">By Leslie V. Marenco \u00b7 Published November 4, 2026<\/p>\n\n<article lang=\"en\">\n\n\n<p>A professional trustee is a paid, independent fiduciary who runs a trust in place of a family member. When the trust holds shares or membership interests in a closely held business, the job adds governance, valuation and records work. This page explains those duties in plain Florida terms.<\/p>\n<h2>What a Professional Trustee Does for a Trust That Holds a Family Business<\/h2>\n<p>A professional trustee is someone paid to administer a trust, instead of a relative or friend who serves for free. Whether one is named depends on the trust instrument, the document that creates the trust. The settlor, the person who created the trust, can name a professional trustee or a professional successor.<\/p>\n<p>Trust Counsel&#8217;s attorneys can serve individually as trustee or personal representative. The firm advises and represents trustees, personal representatives and beneficiaries.<\/p>\n<p>This arrangement often fits three situations:<\/p>\n<ul>\n<li>A business owner who wants a neutral party to run the company interest after death or incapacity.<\/li>\n<li>Heirs who co-own the company and disagree about its future.<\/li>\n<li>A trustee who lacks the time or training to oversee a business.<\/li>\n<\/ul>\n\n<div class=\"cta-dose-mid wp-block-group has-base-color has-accent-background-color has-text-color has-background has-global-padding is-layout-constrained wp-container-core-group-is-layout-32197852 wp-block-group-is-layout-constrained\" style=\"background-color:var(--wp--preset--color--accent,#20242e);color:var(--wp--preset--color--base,#ffffff);border-radius:8px;padding-top:1.5rem;padding-bottom:1.5rem;padding-left:1.5rem;padding-right:1.5rem;border-left:6px solid var(--wp--preset--color--cta,currentColor);box-shadow:0 2px 10px rgba(0,0,0,0.18)\">\n<p class=\"wp-block-paragraph\">If you were just named trustee of a trust that holds your family&#x27;s business, you don&#x27;t have to sort out the duties alone. Our attorneys can talk through your trust documents with you. Talk it through with Trust Counsel, PL &#8212; the first consultation is free, confidential, and carries no obligation.<\/p><div class=\"wp-block-buttons is-layout-flex wp-block-buttons-is-layout-flex\"><div class=\"wp-block-button chg-cta-call\"><a class=\"wp-block-button__link wp-element-button\" href=\"tel:+13057077126\">Get a free consultation<\/a><\/div><div class=\"wp-block-button chg-cta-form\"><a class=\"wp-block-button__link wp-element-button\" href=\"https:\/\/trustcounsel.com\/contact\/\">Get a free consultation<\/a><\/div><\/div>\n<\/div>\n\n<figure class=\"wp-block-image size-large has-custom-border\"><img decoding=\"async\" src=\"https:\/\/trustcounsel.com\/resources\/wp-content\/uploads\/2026\/11\/two-business-professionals-shake-hands-across-a-desk-in-a-br-photo.jpg\" alt=\"Two business professionals shake hands across a desk in a bright office, signaling an agreement.\" style=\"border-radius:8px;width:100%;aspect-ratio:16\/9;object-fit:cover\"\/><\/figure>\n<h2>Why a Closely Held Business Makes the Trustee Job Different<\/h2>\n<p>A closely held business interest has no public market, so the trustee must document its value and any sale options. Nobody can look up a price on an exchange. The trustee needs written analysis before making decisions about a sale, a distribution or a transfer.<\/p>\n<p>The operating agreement is the first document to read. Florida law says the operating agreement governs relations among members and the rights and duties of a manager. The chapter&#8217;s default rules apply only where the agreement is silent (<a href=\"https:\/\/www.leg.state.fl.us\/statutes\/index.cfm?App_mode=Display_Statute&amp;URL=0600-0699\/0605\/Sections\/0605.0105.html\">Fla. Stat. \u00a7 605.0105<\/a>). A trustee who skips that document can misread transfer limits, buy-sell terms or voting rights.<\/p>\n<p>The trustee also balances competing interests. Beneficiaries may want steady income, while the business may need profits reinvested. When a trust has two or more beneficiaries, the trustee must act impartially and give due regard to each person&#8217;s interests (<a href=\"https:\/\/www.leg.state.fl.us\/statutes\/index.cfm?App_mode=Display_Statute&amp;URL=0700-0799\/0736\/Sections\/0736.0803.html\">Fla. Stat. \u00a7 736.0803<\/a>).<\/p>\n<h2>Core Duties of the Trustee When the Trust Holds Business Interests<\/h2>\n<p>A trustee must administer the trust solely in the beneficiaries&#8217; interests (<a href=\"https:\/\/www.leg.state.fl.us\/statutes\/index.cfm?App_mode=Display_Statute&amp;URL=0700-0799\/0736\/Sections\/0736.0802.html\">Fla. Stat. \u00a7 736.0802<\/a>). The trustee must also act as a prudent person would, with reasonable care, skill and caution (<a href=\"https:\/\/www.leg.state.fl.us\/statutes\/index.cfm?App_mode=Display_Statute&amp;URL=0700-0799\/0736\/Sections\/0736.0804.html\">Fla. Stat. \u00a7 736.0804<\/a>).<\/p>\n<p>For a business trust, the day-to-day work includes:<\/p>\n<ul>\n<li>Reading financial statements and asking questions about them.<\/li>\n<li>Attending owner meetings and deciding how to vote or consent.<\/li>\n<li>Tracking capital calls, which are requests for more money from owners.<\/li>\n<li>Coordinating with the company&#8217;s accountants on tax reporting.<\/li>\n<\/ul>\n<p>Records matter as much as decisions. The accounting must show all cash and property transactions during the accounting period, including compensation paid to the trustee (<a href=\"https:\/\/www.leg.state.fl.us\/statutes\/index.cfm?App_mode=Display_Statute&amp;URL=0700-0799\/0736\/Sections\/0736.08135.html\">Fla. Stat. \u00a7 736.08135<\/a>).<\/p>\n<h2>How a Professional Trustee Engagement Works, Step by Step<\/h2>\n<p>An engagement usually moves through five stages, from document review to ongoing administration.<\/p>\n<ol>\n<li><strong>Document review.<\/strong> The trustee reads the trust, any amendments, the company documents, buy-sell agreements and any pending disputes.<\/li>\n<li><strong>Acceptance.<\/strong> A person designated as trustee accepts the trusteeship by substantially complying with a method of acceptance provided in the terms of the trust or, if the trust does not provide a method or the method is not expressly made exclusive, by accepting delivery of the trust property, exercising powers or performing duties as trustee, or otherwise indicating acceptance of the trusteeship (<a href=\"https:\/\/www.leg.state.fl.us\/statutes\/index.cfm?App_mode=Display_Statute&amp;URL=0700-0799\/0736\/Sections\/0736.0701.html\">Fla. Stat. \u00a7 736.0701<\/a>). A designee who waits an unreasonable time to accept is treated as having declined.<\/li>\n<li><strong>Inventory and valuation.<\/strong> The trustee lists the trust&#8217;s assets and documents the basis for each value, often with an outside appraiser.<\/li>\n<li><strong>Governance setup.<\/strong> The trustee confirms the trust&#8217;s position in the company&#8217;s management structure and sets a distribution approach.<\/li>\n<li><strong>Ongoing administration.<\/strong> Accountings, tax filings and beneficiary communication continue for as long as the trust runs.<\/li>\n<\/ol>\n<p>The schedule is set during the first consultation, once the documents are in view.<\/p>\n<h2>Choosing a Corporate, Individual or Attorney Trustee for a Business Trust<\/h2>\n<p>A corporate trustee offers continuity, an individual trustee offers personal knowledge, and an attorney can serve individually. Each choice involves trade-offs.<\/p>\n<ul>\n<li><strong>Corporate trustee.<\/strong> Offers continuity and a formal process. It may lack close knowledge of the family and the company.<\/li>\n<li><strong>Individual family trustee.<\/strong> Knows the people and sometimes the business. The role can strain family relationships and takes real time.<\/li>\n<li><strong>Attorney serving individually.<\/strong> Brings legal training to trust decisions. Fiduciary work and legal advice are separate roles that may involve separate fees, as the <a href=\"https:\/\/www.actec.org\/podcast\/lawyers-as-trustees\/\">ACTEC lawyers-as-trustees discussion<\/a> explains.<\/li>\n<\/ul>\n<p>A family member may still be the right choice. In that case, the trustee often works with an independent advisor on business questions.<\/p>\n<p>If a trusteeship must be filled, Florida follows a set order. First comes a person named in the trust. For a noncharitable trust that must have a trustee filled, the next choice after a person named in the trust is a person appointed by unanimous agreement of the qualified beneficiaries; for a charitable trust, it is a person selected by unanimous agreement of the charitable organizations designated to receive distributions. Last, the court appoints someone (<a href=\"https:\/\/www.leg.state.fl.us\/statutes\/index.cfm?App_mode=Display_Statute&amp;URL=0700-0799\/0736\/Sections\/0736.0704.html\">Fla. Stat. \u00a7 736.0704<\/a>). Name backups in the trust for business decisions.<\/p>\n<h2>How Trustee Compensation Works in Florida<\/h2>\n<p>Florida law gives a trustee reasonable compensation when the trust does not set a fee. If the trust sets the fee, the trustee is paid that amount. The court may allow more or less if the trustee&#8217;s duties are substantially different from those the trust expected, or if the compensation specified by the trust would be unreasonably low or high (<a href=\"https:\/\/www.leg.state.fl.us\/statutes\/index.cfm?App_mode=Display_Statute&amp;URL=0700-0799\/0736\/Sections\/0736.0708.html\">Fla. Stat. \u00a7 736.0708<\/a>).<\/p>\n<p>Under <a href=\"https:\/\/www.leg.state.fl.us\/statutes\/index.cfm?App_mode=Display_Statute&amp;URL=0700-0799\/0736\/Sections\/0736.0708.html\">Fla. Stat. \u00a7 736.0708<\/a>, for appointments made under a trust agreement executed by a Florida resident on or after October 1, 2020, or amended by a Florida resident on or after that date where the trust agreement nominates the attorney who prepared or supervised the execution of the amendment (or a person related to that attorney) as trustee, an attorney serving as trustee, or a person related to that attorney, is not entitled to compensation for serving as trustee when the attorney prepared or supervised the execution of the trust instrument making that appointment. Preparation or supervision of the execution by an employee or attorney employed by the same firm when the instrument was executed counts as the attorney&#8217;s own. The bar does not apply if the attorney or the person appointed is related to the settlor, or if the attorney makes the required disclosures to the settlor before the trust instrument is executed and the settlor signs a separate written statement acknowledging they were made. To keep the right to compensation under <a href=\"https:\/\/www.leg.state.fl.us\/statutes\/index.cfm?App_mode=Display_Statute&amp;URL=0700-0799\/0736\/Sections\/0736.0708.html\">Fla. Stat. \u00a7 736.0708(4)<\/a>(a), an attorney who prepares or supervises a trust instrument that names the attorney as trustee must make disclosures to the settlor before the trust is executed. The first of these disclosures reads: &#8220;Unless specifically disqualified by the terms of the trust instrument, any person, regardless of state of residence and including a family member, friend, or corporate fiduciary, is eligible to serve as a trustee.&#8221;<\/p>\n<p>The firm&#8217;s first consultation is free, confidential, and carries no obligation to continue.<\/p>\n\n<div class=\"cta-dose-mid wp-block-group has-base-color has-accent-background-color has-text-color has-background has-global-padding is-layout-constrained wp-container-core-group-is-layout-32197852 wp-block-group-is-layout-constrained\" style=\"background-color:var(--wp--preset--color--accent,#20242e);color:var(--wp--preset--color--base,#ffffff);border-radius:8px;padding-top:1.5rem;padding-bottom:1.5rem;padding-left:1.5rem;padding-right:1.5rem;border-left:6px solid var(--wp--preset--color--cta,currentColor);box-shadow:0 2px 10px rgba(0,0,0,0.18)\">\n<h3 class=\"wp-block-heading has-base-color has-text-color\">Not sure what your next step is?<\/h3><p class=\"wp-block-paragraph\">Talk it through with Trust Counsel, PL &#8212; the first consultation is free, confidential, and carries no obligation.<\/p><div class=\"wp-block-buttons is-layout-flex wp-block-buttons-is-layout-flex\"><div class=\"wp-block-button chg-cta-call\"><a class=\"wp-block-button__link wp-element-button\" href=\"tel:+13057077126\">Get a free consultation<\/a><\/div><div class=\"wp-block-button chg-cta-form\"><a class=\"wp-block-button__link wp-element-button\" href=\"https:\/\/trustcounsel.com\/contact\/\">Get a free consultation<\/a><\/div><\/div>\n<\/div>\n<h2>Frequently Asked Questions About Professional Trustees for Business Trusts<\/h2><details class=\"wp-block-details chg-faq is-layout-flow wp-block-details-is-layout-flow\"><summary>What are a trustee&#8217;s main responsibilities?<\/summary><p class=\"wp-block-paragraph\">A trustee must act solely for the beneficiaries, use prudent care, keep records and account to beneficiaries.<\/p><\/details><details class=\"wp-block-details chg-faq is-layout-flow wp-block-details-is-layout-flow\"><summary>Will a professional trustee take over running the company?<\/summary><p class=\"wp-block-paragraph\">Not automatically. The operating agreement sets management authority, and the trustee acts within that structure.<\/p><\/details><details class=\"wp-block-details chg-faq is-layout-flow wp-block-details-is-layout-flow\"><summary>Can a professional trustee be removed?<\/summary><p class=\"wp-block-paragraph\">Yes.<\/p><\/details><details class=\"wp-block-details chg-faq is-layout-flow wp-block-details-is-layout-flow\"><summary>Is a corporate trustee a good idea?<\/summary><p class=\"wp-block-paragraph\">It depends on the facts, including the trust&#8217;s size, the business&#8217;s complexity and the family&#8217;s needs.<\/p><\/details><details class=\"wp-block-details chg-faq is-layout-flow wp-block-details-is-layout-flow\"><summary>Who pays the trustee?<\/summary><p class=\"wp-block-paragraph\">The trust sets the fee if it names one. If it does not, the trustee receives reasonable compensation (<a href=\"https:\/\/www.leg.state.fl.us\/statutes\/index.cfm?App_mode=Display_Statute&amp;URL=0700-0799\/0736\/Sections\/0736.0708.html\">Fla. Stat. \u00a7 736.0708<\/a>).<\/p><\/details><details class=\"wp-block-details chg-faq is-layout-flow wp-block-details-is-layout-flow\"><summary>Can an attorney serve individually as trustee while advising the trust?<\/summary><p class=\"wp-block-paragraph\">Yes, an attorney can serve individually.<\/p><\/details>\n<figure class=\"wp-block-image size-large has-custom-border\"><img decoding=\"async\" src=\"https:\/\/trustcounsel.com\/resources\/wp-content\/uploads\/2026\/10\/two-professionals-shake-hands-across-a-desk-in-a-modern-offi-photo.jpg\" alt=\"Two professionals shake hands across a desk in a modern office, symbolizing partnership and agreement.\" style=\"border-radius:8px;width:100%;aspect-ratio:16\/9;object-fit:cover\"\/><\/figure>\n<h2>Working with Trust Counsel, PL on a Business Trust in Florida<\/h2>\n<p>Trust Counsel, PL focuses on trust administration, trust litigation, estate tax planning, business succession planning and asset protection. The firm advises and represents trustees, personal representatives and beneficiaries, and Trust Counsel&#8217;s attorneys can serve individually as trustee or personal representative.<\/p>\n<p>Leslie V. Marenco is the responsible lawyer for this page. Tanya Vega is also a lawyer at the firm. The firm&#8217;s only office is in Coral Gables, Florida. We serve clients in Fort Lauderdale and across Florida.<\/p>\n<p>If you were just named trustee of a trust that holds your family&#8217;s company, or you&#8217;re weighing whether to accept that role, you don&#8217;t have to decide alone. Call (305) 707-7126 or <a href=\"https:\/\/trustcounsel.com\/contact\/\">schedule online<\/a> to talk through your trust documents.<\/p>\n\n<\/article>\n<footer class=\"disclaimer\"><em>Trust Counsel, PL, 201 Alhambra Circle, Suite 802, Coral Gables, FL 33134. The information provided on this website is for general informational purposes only and should not be construed as legal advice for any individual case or situation. Viewing this website does not create an attorney-client relationship, nor is it intended to do so.<\/em><\/footer>\n\n\n<div class=\"wp-block-group alignwide has-global-padding is-layout-constrained wp-container-core-group-is-layout-583d630a wp-block-group-is-layout-constrained\" style=\"padding-top:3rem;padding-bottom:3rem;padding-left:1.5rem;padding-right:1.5rem\">\n<h2 class=\"wp-block-heading has-text-align-center\">How we work with business trusts<\/h2>\n<div class=\"wp-block-columns is-layout-flex wp-container-core-columns-is-layout-f56f613f wp-block-columns-is-layout-flex\"><div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\"><p class=\"wp-block-paragraph\"><span class=\"chg-icon chg-icon--shield\"><\/span><\/p><h3 class=\"wp-block-heading\">Counsel for fiduciaries<\/h3><p class=\"wp-block-paragraph\">The firm advises and represents trustees, personal representatives and beneficiaries when a business interest is held in trust.<\/p><\/div><div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\"><p class=\"wp-block-paragraph\"><span class=\"chg-icon chg-icon--document\"><\/span><\/p><h3 class=\"wp-block-heading\">Business succession planning<\/h3><p class=\"wp-block-paragraph\">We help business owners plan how their company interests will be held, managed and passed on under a trust.<\/p><\/div><div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\"><p class=\"wp-block-paragraph\"><span class=\"chg-icon chg-icon--users\"><\/span><\/p><h3 class=\"wp-block-heading\">Individual attorneys who can serve as fiduciaries<\/h3><p class=\"wp-block-paragraph\">Trust Counsel&#x27;s attorneys can serve individually as trustee or personal representative. The firm itself does not serve as a fiduciary.<\/p><\/div><\/div>\n\n\n<div class=\"wp-block-columns is-layout-flex wp-container-core-columns-is-layout-f56f613f wp-block-columns-is-layout-flex\"><div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\"><p class=\"wp-block-paragraph\"><span class=\"chg-icon chg-icon--location\"><\/span><\/p><h3 class=\"wp-block-heading\">Based in Coral Gables<\/h3><p class=\"wp-block-paragraph\">Our office is in Coral Gables, Florida. Leslie V. Marenco is the responsible lawyer for this page.<\/p><\/div><div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\"><p class=\"wp-block-paragraph\"><span class=\"chg-icon chg-icon--chat\"><\/span><\/p><h3 class=\"wp-block-heading\">Free first consultation<\/h3><p class=\"wp-block-paragraph\">Your first consultation is free, confidential and without obligation to continue.<\/p><\/div><\/div>\n\n<\/div>\n\n\n\n<div class=\"wp-block-group has-base-color has-accent-background-color has-text-color has-background has-global-padding is-layout-constrained wp-container-core-group-is-layout-32197852 wp-block-group-is-layout-constrained\" style=\"background-color:var(--wp--preset--color--accent,#20242e);color:var(--wp--preset--color--base,#ffffff);border-radius:8px;padding-top:1.5rem;padding-bottom:1.5rem;padding-left:1.5rem;padding-right:1.5rem;border-left:6px solid var(--wp--preset--color--cta,currentColor);box-shadow:0 2px 10px rgba(0,0,0,0.18)\">\n<h3 class=\"wp-block-heading has-base-color has-text-color\">Review the documents before naming a trustee<\/h3><p class=\"wp-block-paragraph\">Before naming a trustee for a business interest, have the trust and the company&#x27;s governing documents reviewed together so the roles fit the business structure.<\/p><div class=\"wp-block-buttons is-layout-flex wp-block-buttons-is-layout-flex\"><div class=\"wp-block-button chg-cta-call\"><a class=\"wp-block-button__link wp-element-button\" href=\"tel:+13057077126\">Book a free strategy call<\/a><\/div><div class=\"wp-block-button chg-cta-form\"><a class=\"wp-block-button__link wp-element-button\" href=\"https:\/\/trustcounsel.com\/contact\/\">Book a free strategy call<\/a><\/div><\/div>\n<\/div>\n\n\n\n<div class=\"wp-block-group alignfull has-surface-background-color has-background has-global-padding is-layout-constrained wp-container-core-group-is-layout-583d630a wp-block-group-is-layout-constrained\" style=\"padding-top:3rem;padding-bottom:3rem;padding-left:1.5rem;padding-right:1.5rem\">\n<h2 class=\"wp-block-heading has-text-align-center\">Services for business owners and fiduciaries<\/h2>\n<div class=\"wp-block-columns is-layout-flex wp-container-core-columns-is-layout-f56f613f wp-block-columns-is-layout-flex\"><div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\"><div class=\"wp-block-group has-base-background-color has-background is-layout-flow wp-block-group-is-layout-flow\" style=\"border-radius:8px;box-shadow:0 4px 14px rgba(0,0,0,0.08);padding-top:1.5rem;padding-bottom:1.5rem;padding-left:1.5rem;padding-right:1.5rem\"><h3 class=\"wp-block-heading\">Business succession planning<\/h3><p class=\"wp-block-paragraph\">Planning for ownership transitions, continuity of management and the transfer of business interests through trusts.<\/p><\/div><\/div><div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\"><div class=\"wp-block-group has-base-background-color has-background is-layout-flow wp-block-group-is-layout-flow\" style=\"border-radius:8px;box-shadow:0 4px 14px rgba(0,0,0,0.08);padding-top:1.5rem;padding-bottom:1.5rem;padding-left:1.5rem;padding-right:1.5rem\"><h3 class=\"wp-block-heading\">Trust administration<\/h3><p class=\"wp-block-paragraph\">Guidance for trustees on administering a trust, keeping records and accounting to beneficiaries.<\/p><\/div><\/div><div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\"><div class=\"wp-block-group has-base-background-color has-background is-layout-flow wp-block-group-is-layout-flow\" style=\"border-radius:8px;box-shadow:0 4px 14px rgba(0,0,0,0.08);padding-top:1.5rem;padding-bottom:1.5rem;padding-left:1.5rem;padding-right:1.5rem\"><h3 class=\"wp-block-heading\">Estate tax and asset protection planning<\/h3><p class=\"wp-block-paragraph\">Planning for families and business owners with domestic and foreign ties, including estate tax and asset protection considerations.<\/p><\/div><\/div><\/div>\n\n\n<div class=\"wp-block-columns is-layout-flex wp-container-core-columns-is-layout-f56f613f wp-block-columns-is-layout-flex\"><div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\"><div class=\"wp-block-group has-base-background-color has-background is-layout-flow wp-block-group-is-layout-flow\" style=\"border-radius:8px;box-shadow:0 4px 14px rgba(0,0,0,0.08);padding-top:1.5rem;padding-bottom:1.5rem;padding-left:1.5rem;padding-right:1.5rem\"><h3 class=\"wp-block-heading\">Trust and probate litigation<\/h3><p class=\"wp-block-paragraph\">Representation of beneficiaries, heirs and fiduciaries in trust and probate disputes.<\/p><\/div><\/div><div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\"><div class=\"wp-block-group has-base-background-color has-background is-layout-flow wp-block-group-is-layout-flow\" style=\"border-radius:8px;box-shadow:0 4px 14px rgba(0,0,0,0.08);padding-top:1.5rem;padding-bottom:1.5rem;padding-left:1.5rem;padding-right:1.5rem\"><h3 class=\"wp-block-heading\">Where we serve clients<\/h3><p class=\"wp-block-paragraph\">We serve clients in Fort Lauderdale, Boca Raton, West Palm Beach, Doral, Kendall, Pinecrest, Key Biscayne and Aventura, working from our Coral Gables office.<\/p><\/div><\/div><\/div>\n\n<\/div>\n\n\n\n<div class=\"wp-block-group alignfull has-base-color has-primary-background-color has-text-color has-background has-global-padding is-layout-constrained wp-container-core-group-is-layout-4d466591 wp-block-group-is-layout-constrained\" style=\"background-color:var(--wp--preset--color--primary,#20242e);color:var(--wp--preset--color--base,#ffffff);padding-top:3rem;padding-bottom:3rem;padding-left:1.5rem;padding-right:1.5rem\">\n<h2 class=\"wp-block-heading has-text-align-center has-base-color has-text-color\">Talk with a Coral Gables trusts attorney about your business trust<\/h2>\n<div class=\"wp-block-buttons is-content-justification-center is-layout-flex wp-container-core-buttons-is-layout-0aa01211 wp-block-buttons-is-layout-flex\"><div class=\"wp-block-button chg-cta chg-cta-call\"><a class=\"wp-block-button__link wp-element-button\" href=\"tel:+13057077126\">Book a free strategy call or call (305) 707-7126<\/a><\/div><div class=\"wp-block-button chg-cta chg-cta-form\"><a class=\"wp-block-button__link wp-element-button\" href=\"https:\/\/trustcounsel.com\/contact\/\">Book a free strategy call or call (305) 707-7126<\/a><\/div><\/div>\n<\/div>\n\n<h2 class=\"wp-block-heading\">Related practice areas<\/h2><ul class=\"wp-block-list\"><li><a href=\"\/resources\/professional-trustee-and-executor-services\/\">Professional Trustee And Executor Services<\/a><\/li><li><a href=\"\/resources\/professional-trustee-and-executor-services\/florida\/\">Professional Trustee And Executor Services in Florida<\/a><\/li><li><a href=\"\/resources\/professional-trustee-and-executor-services\/fort-lauderdale\/\">Professional Trustee And Executor Services in Fort Lauderdale<\/a><\/li><\/ul>\n<!-- chg:section-siblings -->\n<nav aria-label=\"More in this section\">\n<h2>More in this section<\/h2>\n<ul><li><a href=\"\/resources\/professional-trustee-and-executor-services\/professional-trustee-for-business-interests-florida\/\">Professional Trustee for a Florida Trust Holding Business Interests<\/a><\/li><li><a href=\"\/resources\/professional-trustee-and-executor-services\/should-trustee-and-executor-be-the-same\/\">Should trustee and executor be the same?<\/a><\/li><li><a href=\"\/resources\/professional-trustee-and-executor-services\/trustee-refuses-to-give-accounting-florida\/\">Trustee Refuses to Give Accounting Florida<\/a><\/li><li><a href=\"\/resources\/professional-trustee-and-executor-services\/what-are-common-mistakes-people-make-with-trusts\/\">What are common mistakes people make with trusts?<\/a><\/li><li><a href=\"\/resources\/professional-trustee-and-executor-services\/what-are-the-disadvantages-of-being-an-executor\/\">What are the disadvantages of being an executor?<\/a><\/li><\/ul>\n<\/nav>\n<!-- \/chg:section-siblings -->","protected":false},"excerpt":{"rendered":"<p>How a professional trustee runs a Florida trust that holds a closely held business: duties, operating agreements, compensation and next steps.<\/p>\n","protected":false},"author":2,"featured_media":0,"parent":13,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"chg_review":"","chg_sendback":"","chg_canonical":"","chg_lang":"","chg_hreflang":"[{\"hreflang\": \"en\", \"href\": \"https:\/\/trustcounsel.com\/resources\/professional-trustee-and-executor-services\/professional-trustee-closely-held-business-trust-florida\/\"}, {\"hreflang\": \"es\", \"href\": \"https:\/\/trustcounsel.com\/resources\/es\/servicios-fiduciario-ejecutor\/fiduciario-profesional-empresa-familiar-florida\/\"}, {\"hreflang\": \"x-default\", \"href\": \"https:\/\/trustcounsel.com\/resources\/professional-trustee-and-executor-services\/professional-trustee-closely-held-business-trust-florida\/\"}]","chg_jsonld":"[{\"name\": \"Professional Trustee Services for Florida Trusts That Hold a Closely Held Business\", \"@type\": [\"Service\", \"FAQPage\"], \"about\": [{\"@type\": \"Thing\", \"name\": \"Trust (law)\", \"sameAs\": \"https:\/\/en.wikipedia.org\/wiki\/Trust_(law)\"}, {\"@type\": \"Thing\", \"name\": \"Executor\", \"sameAs\": \"https:\/\/en.wikipedia.org\/wiki\/Executor\"}], \"@context\": \"https:\/\/schema.org\", \"audience\": {\"@type\": \"Audience\", \"audienceType\": \"Business owners naming a trustee, co-owners and adult children named as trustee, family members of a deceased owner, and advisors and fiduciaries\"}, \"provider\": {\"@type\": \"Organization\", \"@id\": \"https:\/\/trustcounsel.com\/resources\/#organization\", \"name\": \"Trust Counsel, PL\", \"url\": \"https:\/\/trustcounsel.com\/\"}, \"question\": [\"What are the responsibilities of a trustee?\", \"How much money does a trustee make?\", \"Is a corporate trustee a good idea?\", \"Can a professional trustee be removed?\", \"Will a professional trustee take over running the company?\"], \"speakable\": {\"@type\": \"SpeakableSpecification\", \"cssSelector\": [\"article > p:first-of-type\", \".wp-block-details p\", \"article > h1\"]}, \"areaServed\": {\"name\": \"Florida\", \"@type\": \"State\"}, \"description\": \"Explains how a professional trustee administers a Florida trust that holds shares or membership interests in a closely held business, covering fiduciary duties under the Florida Trust Code, business-specific governance, valuation, distributions, tax reporting, successor trustee planning, trustee selection, and trustee compensation, and invites readers to a confidential consultation.\", \"serviceType\": \"Professional trustee administration\", \"mentions\": [{\"@type\": \"Thing\", \"name\": \"Trustee\", \"sameAs\": \"https:\/\/en.wikipedia.org\/wiki\/Trustee\"}, {\"@type\": \"Thing\", \"name\": \"Fiduciary\", \"sameAs\": \"https:\/\/en.wikipedia.org\/wiki\/Fiduciary\"}, {\"@type\": \"Thing\", \"name\": \"Estate tax in the United States\", \"sameAs\": \"https:\/\/en.wikipedia.org\/wiki\/Estate_tax_in_the_United_States\"}, {\"@type\": \"Thing\", \"name\": \"Asset protection\", \"sameAs\": \"https:\/\/en.wikipedia.org\/wiki\/Asset_protection\"}, {\"@type\": \"Thing\", \"name\": \"Inheritance\", \"sameAs\": \"https:\/\/en.wikipedia.org\/wiki\/Inheritance\"}, {\"@type\": \"Thing\", \"name\": \"Succession planning\", \"sameAs\": \"https:\/\/en.wikipedia.org\/wiki\/Succession_planning\"}], \"author\": {\"@type\": \"Person\", \"name\": \"Leslie V. Marenco\", \"url\": \"https:\/\/trustcounsel.com\/our-people\/\", \"jobTitle\": \"Founder and Managing Partner\", \"sameAs\": [\"https:\/\/www.floridabar.org\/mybarprofile\/78303\", \"https:\/\/www.linkedin.com\/in\/trustcounsel\/?isSelfProfile=false\", \"https:\/\/www.avvo.com\/attorneys\/33134-fl-leslie-marenco-3326650.html\"], \"worksFor\": {\"@type\": \"Organization\", \"@id\": \"https:\/\/trustcounsel.com\/resources\/#organization\", \"name\": \"Trust Counsel, PL\", \"url\": \"https:\/\/trustcounsel.com\/\"}}, \"publisher\": {\"@type\": \"Organization\", \"@id\": \"https:\/\/trustcounsel.com\/resources\/#organization\", \"name\": \"Trust Counsel, PL\", \"url\": \"https:\/\/trustcounsel.com\/\"}, \"reviewedBy\": {\"@type\": \"Person\", \"name\": \"Tanya Vega\", \"jobTitle\": \"Managing Attorney\", \"sameAs\": [\"https:\/\/www.floridabar.org\/mybarprofile\/41469\"], \"worksFor\": {\"@type\": \"Organization\", \"@id\": \"https:\/\/trustcounsel.com\/resources\/#organization\", \"name\": \"Trust Counsel, PL\", \"url\": \"https:\/\/trustcounsel.com\/\"}}, \"inLanguage\": \"en\", \"mainEntity\": [{\"@type\": \"Question\", \"name\": \"What are a trustee's main responsibilities?\", \"acceptedAnswer\": {\"@type\": \"Answer\", \"text\": \"A trustee must act solely for the beneficiaries, use prudent care, keep records and account to beneficiaries.\"}}, {\"@type\": \"Question\", \"name\": \"Will a professional trustee take over running the company?\", \"acceptedAnswer\": {\"@type\": \"Answer\", \"text\": \"Not automatically. The operating agreement sets management authority, and the trustee acts within that structure.\"}}, {\"@type\": \"Question\", \"name\": \"Can a professional trustee be removed?\", \"acceptedAnswer\": {\"@type\": \"Answer\", \"text\": \"Yes.\"}}, {\"@type\": \"Question\", \"name\": \"Is a corporate trustee a good idea?\", \"acceptedAnswer\": {\"@type\": \"Answer\", \"text\": \"It depends on the facts, including the trust's size, the business's complexity and the family's needs.\"}}, {\"@type\": \"Question\", \"name\": \"Who pays the trustee?\", \"acceptedAnswer\": {\"@type\": \"Answer\", \"text\": \"The trust sets the fee if it names one. If it does not, the trustee receives reasonable compensation (Fla. Stat. \u00a7 736.0708).\"}}, {\"@type\": \"Question\", \"name\": \"Can an attorney serve individually as trustee while advising the trust?\", \"acceptedAnswer\": {\"@type\": \"Answer\", \"text\": \"Yes, an attorney can serve individually.\"}}]}, {\"@context\": \"https:\/\/schema.org\", \"@type\": \"BreadcrumbList\", \"itemListElement\": [{\"@type\": \"ListItem\", \"position\": 1, \"name\": \"Home\", \"item\": \"https:\/\/trustcounsel.com\/resources\/\"}, {\"@type\": \"ListItem\", \"position\": 2, \"name\": \"Professional Trustee And Executor Services\", \"item\": \"https:\/\/trustcounsel.com\/resources\/professional-trustee-and-executor-services\/\"}, {\"@type\": \"ListItem\", \"position\": 3, \"name\": \"Professional Trustee for Florida Business Trusts\", \"item\": \"https:\/\/trustcounsel.com\/resources\/professional-trustee-and-executor-services\/professional-trustee-closely-held-business-trust-florida\/\"}]}]","chg_meta_description":"How a professional trustee runs a Florida trust that holds a closely held business: duties, operating agreements, compensation and next steps.","footnotes":""},"class_list":["post-8824","page","type-page","status-publish","hentry"],"_links":{"self":[{"href":"https:\/\/trustcounsel.com\/resources\/wp-json\/wp\/v2\/pages\/8824","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/trustcounsel.com\/resources\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/trustcounsel.com\/resources\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/trustcounsel.com\/resources\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/trustcounsel.com\/resources\/wp-json\/wp\/v2\/comments?post=8824"}],"version-history":[{"count":2,"href":"https:\/\/trustcounsel.com\/resources\/wp-json\/wp\/v2\/pages\/8824\/revisions"}],"predecessor-version":[{"id":8942,"href":"https:\/\/trustcounsel.com\/resources\/wp-json\/wp\/v2\/pages\/8824\/revisions\/8942"}],"up":[{"embeddable":true,"href":"https:\/\/trustcounsel.com\/resources\/wp-json\/wp\/v2\/pages\/13"}],"wp:attachment":[{"href":"https:\/\/trustcounsel.com\/resources\/wp-json\/wp\/v2\/media?parent=8824"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}