SE HABLA ESPAÑOL
SE HABLA ESPAÑOL
Managing a trust after a loved one passes can feel overwhelming — but you don’t have to navigate it alone.
At Trust Counsel, our Coral Gables trust administration team helps trustees and families manage, protect, and distribute trust assets with clarity, precision, and confidence.
Managing a trust after a loved one passes can feel overwhelming — but you don’t have to navigate it alone.
At Trust Counsel, our Coral Gables trust administration team helps trustees and families manage, protect, and distribute trust assets with clarity, precision, and confidence.
When a loved one names you as trustee, you inherit responsibility — and strict legal duties under Florida law.
Many trustees in Coral Gables underestimate how complex trust administration can be, from valuations and tax reporting to distributing assets according to the trust’s instructions.
One family in Coral Gables tried managing their parents’ multi-property trust alone. A missed filing and incomplete accounting led to delays, penalties, and family tension.
Trust administration is not just paperwork — it’s fiduciary responsibility.
Trust administration services may be needed if you are:
A successor trustee managing a family trust
Uncertain about your legal duties as a trustee
Concerned about trust compliance, accounting, or distributions
Managing high-value real estate or investments in the trust
Handling cross-border or multi-state trust assets
Looking for a Coral Gables–based firm with experience in complex trusts
Florida trustees have strict fiduciary duties, including:
✓ Acting solely in the best interests of beneficiaries
✓ Managing assets prudently and responsibly
✓ Keeping accurate records and accountings
✓ Following the trust terms exactly
✓Filing required tax returns (income, estate, and trust taxes)
Failure to follow these duties can lead to personal liability and legal disputes.
Effective trust administration typically involves:
✓ Reviewing and understanding the trust document
✓ Notifying beneficiaries and providing accountings
✓ Identifying, valuing, and protecting trust assets
✓ Handling taxes and IRS filings (Form 1041 and others)
✓ Distributing assets according to the trust instructions
✓ Maintaining records for potential audits or disputes
Each step requires attention to detail and knowledge of Florida trust law.
Coral Gables estates often involve:
✓ High-value real estate (historic homes, waterfront properties, luxury condos)
✓ Multi-property or multi-generational trusts
✓ Family-owned businesses
✓ Cross-border assets or beneficiaries
✓ Investments and retirement accounts
Even “simple” trusts can become complicated without professional guidance.
We help trustees avoid costly errors, such as:
✓ Missing deadlines for tax filings or distributions
✓ Improperly valuing trust assets
✓ Failing to notify beneficiaries or provide accountings
✓ Ignoring foreign asset reporting requirements
✓ Mismanaging real estate or investment portfolios
✓ Making distributions without proper documentation
Mistakes in trust administration can lead to penalties, disputes, or personal liability.
Led by Managing Partner Leslie Marenco, Trust Counsel is a Coral Gables boutique firm with 15+ years of experience in trust administration, high-value real estate, and cross-border assets, offering a calm, supportive approach for trustees and families.
Your family deserves clarity, compliance, and peace of mind.
While not required, professional guidance ensures compliance and protects trustees from liability.
Assets must be valued accurately as of the date of death, including real estate, investments, and businesses.
Proper documentation and legal guidance can prevent or resolve disputes efficiently.
Yes — failing to report assets outside the U.S. can result in significant penalties.
If you are a trustee:
Ensure it is managed correctly, protected from disputes, and distributed according to their wishes.
Professional trust administration preserves the estate — and your peace of mind.
Ensure it is managed correctly, protected from disputes, and distributed according to their wishes.
Professional trust administration preserves the estate — and your peace of mind.