When a trust becomes active after a loved one passes away, the trustee is responsible for managing the trust and carrying out its terms. This can include gathering assets, communicating with beneficiaries, handling expenses, and distributing property.
Our attorneys help trustees understand their responsibilities and address legal questions that may come up during the administration of a trust.
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Trust administration can involve important legal and financial responsibilities. We provide clear advice and practical guidance so trustees understand what needs to be done and how to move forward.
We help trustees understand the trust documents, their responsibilities, and the steps involved in administering the trust.
We explain the process in straightforward terms and are available to answer questions as they arise.
Find answers to common questions about estate planning, probate, elder law, estate administration, wills and trusts, and commercial real estate. If you don’t see your question below, we’re happy to help.
Trust administration is the process of managing and distributing assets held in a trust according to the terms of the trust document and applicable law.
A trustee may be responsible for identifying and managing trust assets, communicating with beneficiaries, paying appropriate expenses, maintaining records, and making distributions according to the trust.
Not every situation is the same, but an attorney can help a trustee understand legal responsibilities, interpret trust provisions, and address issues that arise during administration.
The timeline depends on the trust, its assets, the beneficiaries, and any legal or financial issues that need to be resolved.
Probate generally involves the court-supervised administration of an estate. Trust administration involves managing assets held in a trust and may occur outside of probate.
Jenkins & Young, P.A. provides trusted legal guidance in estate planning, probate administration, elder law, wills, trusts, and commercial real estate matters in Ormond Beach, serving Volusia, Flagler and St Johns Counties throughout Central Florida.