Trust Administration

Trust Administration Attorneys in Naples

When a loved one passes away in Southwest Florida, their estate often moves through a process designed to manage and distribute assets held in a trust. While many people choose trusts to avoid the public nature of probate court, the process still requires careful adherence to specific legal standards. Trust administration is the period where a successor trustee takes control of the assets, settles debts, and ensures that the settlor’s final wishes are carried out exactly as written.

The responsibilities of a trustee are significant. In Florida, these duties are governed by the Florida Trust Code, found in Chapter 736 of the Florida Statutes. Because a trustee acts as a fiduciary, they are held to a high standard of conduct. Seeking guidance from trust administration attorneys in Naples can help ensure that every step, from the initial notice to the final distribution, complies with state law.

Initial Steps in Florida Trust Administration

The administration process begins immediately after the death of the trust’s settlor. The successor trustee must first locate the original trust documents and any amendments to understand their specific powers and instructions.

Under Florida Statute § 736.05055, the trustee must file a Notice of Trust with the clerk of the court in the county where the settlor resided. This filing provides public notice that the trust exists and identifies the person responsible for its administration, which informs potential creditors where to send claims.

Mandatory Duties of a Florida Trustee

A trustee does not have unlimited discretion; rather, they must follow the specific rules set out in the Florida Trust Code. These duties are designed to protect the beneficiaries’ interests and ensure the integrity of the trust.

  • Duty to Administer: The trustee must manage the trust in good faith and in accordance with its terms (Fla. Stat. § 736.0801).
  • Duty of Loyalty: The trustee must act solely in the beneficiaries’ interests, avoiding any self-dealing or conflicts of interest.
  • Duty of Impartiality: If a trust has multiple beneficiaries, the trustee must act fairly and give due regard to their respective interests.
  • Duty to Inform and Account: Trustees must keep qualified beneficiaries reasonably informed, which includes providing a complete copy of the trust and an annual trust accounting (Fla. Stat. § 736.0813).

Identifying Assets and Settling Debts

Before assets can be distributed to beneficiaries, the trustee must identify, gather, and value all trust property. The trustee is responsible for protecting these assets, which may involve maintaining insurance or managing rental properties during the administration period.

The trust is also responsible for paying the settlor’s valid debts and expenses. According to Florida Statute § 736.05053, the trustee may be required to pay expenses of the settlor’s estate if the probate estate is insufficient to cover them. This includes funeral costs, taxes, and final medical bills.

Compassionate Guidance for Naples Families

At Safe Harbor Law Firm, we recognize that trust administration often occurs during a time of significant personal loss. Whether you need help with a Notice of Trust or complex accounting, we provide the steady hand necessary to manage these responsibilities with confidence.

Contact us today at 239-977-5158 to schedule a complimentary vision meeting. We are here to help you move forward with peace of mind.

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Our Locations

Whether you’re in Fort Myers, Bonita Springs or Naples, we have offices conveniently located to serve you:

Naples Office​

4500 Executive Drive
Suite 100
Naples, FL 34119

(239) 977-5158

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Bonita Springs Office

27821 S Tamiami Trail
Suite 2
Bonita Springs, FL 34134

(239) 788-2033

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Fort Myers Office ​

5237 Summerlin Commons Blvd
Suite 103
Fort Myers, FL 33907

(239) 933-4697

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