When a loved one creates a trust, it’s often to make things easier for their family later to protect privacy, minimize delays, and ensure assets are transferred smoothly. (If you’re still deciding between creating a will or a trust, our Wills vs Trust in St. Augustine guide explains the key differences.)
After that person passes away, the trustee takes on the important job of managing and distributing those assets according to the terms of the trust.
In Florida, this process is known as trust administration. While it usually happens outside of court, there are times when the court may still become involved, especially if assets were not properly titled in the trust or if a dispute arises. Working with a trust administration lawyer in St Augustine FL helps trustees follow state law, meet deadlines, and avoid unintentional mistakes.
What Is Trust Administration?
Trust administration is the process of settling and managing a trust after the person who created it (the grantor or settlor) has passed away or become incapacitated. It typically occurs privately, guided by the trust document and Florida law, rather than through the public probate court system.
During administration, the trustee, often a family member, friend, or professional must:
- Notify beneficiaries and, when applicable, creditors
- Locate, secure, and manage trust assets
- Pay valid debts, expenses, and taxes
- Distribute assets according to the trust’s written instructions
These steps may seem straightforward, but they require attention to detail, accurate recordkeeping, and often coordination with accountants, financial advisors, or an attorney.
The Trustee’s Fiduciary Duties
Serving as a trustee is both an honor and a legal responsibility. Trustees hold what’s known as a fiduciary duty an obligation to act in the best interests of the beneficiaries.
The key to being an effective fiduciary is following the trust’s written terms precisely, not based on personal opinion or assumptions.
Florida’s Trust Code outlines several core fiduciary duties:
- Duty of loyalty: Always act in the beneficiaries’ best interests and avoid conflicts of interest.
- Duty of prudence: Manage and invest trust assets responsibly, as a prudent person would, considering the trust’s purposes, terms, and distribution requirements.
- Duty of impartiality: Treat all beneficiaries fairly, even if relationships or interests differ.
- Duty to account: Keep accurate records and provide information and accounts as required by law.
Working with an attorney helps ensure these timelines and documents are handled correctly.
How Trust Administration Differs from Probate
While both probate and trust administration deal with transferring assets after death, the processes differ significantly.
| Aspect | Probate (Estate Administration) | Trust Administration |
| Court involvement | Supervised by the court | Private, attorney-guided process |
| Timeline | Can take months or longer | Often more efficient |
| Privacy | Public record | Confidential |
| Costs | Includes court and filing fees | Often fewer administrative costs |
Even so, court involvement may become necessary if a trust is contested, if assets were not properly titled, or if legal disputes arise. A trust administration lawyer can guide you through both processes seamlessly when needed.
Practical Steps for Trustees in Florida
Serving as a trustee can feel like a significant responsibility, especially when you’re balancing family relationships, deadlines, and complex financial details. Having the right legal guidance can make every step more manageable. With support from a lawyer, you can focus on honoring your loved one’s wishes while knowing the legal details are handled with care.
Trust administration typically includes:
- Reviewing the trust and confirming your legal duties
- Locating and protecting trust assets, such as real estate and financial accounts
- Handling tax and legal filings, including obtaining a Tax Identification Number (EIN) if required
- Communicating with beneficiaries and creditors to meet Florida’s notice requirements
- Managing investments responsibly under Florida’s Prudent Investor Rule
- Paying valid debts, taxes, and expenses, while maintaining a reasonable reserve for final costs
- Distributing remaining assets and completing the process with full documentation
Each trust is unique, and even small oversights can create unnecessary stress or delay. Working with a trust administration lawyer in St Augustine FL helps ensure these steps are completed properly and with the personal attention your family deserves.
Key Takeaways
- Trust administration in Florida allows assets to be transferred privately, but legal requirements still apply.
- Trustees have fiduciary duties of loyalty, prudence, and transparency under the Florida Trust Code.
- Court involvement may occur if assets are missing or disputes arise.
- Working with an attorney ensures compliance, protects trustees from liability, and helps families move forward peacefully.
- E.P.P.G. Law of St. Johns assists trustees and families throughout St. Augustine and Palm Coast with professionalism and compassion.
Why Legal Guidance Matters
Even a well-drafted trust requires careful administration. Trustees who try to handle everything on their own risk overlooking deadlines, missing notices, or unintentionally breaching their fiduciary duties.
A trust administration lawyer in St Augustine, FL can provide the clarity and structure needed to move forward confidently. At E.P.P.G. Law of St. Johns, Attorney Heather Maltby and her team offer compassionate, knowledgeable support through every step. Families trust our office to help them manage legal and emotional complexities with care and professionalism. Request a consultation today.
References: nwitimes.com (July 18, 2021) “Estate Planning: Executors, executrix and personal representatives” and Justia (October 2024) “Trust Administration Law” and Florida Statutes, Chapter 736 – Florida Trust Code