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Fulfilling your duties as a trustee: What you need to know

On Behalf of | Dec 21, 2015 | Trust Administration

Trustees serve an important role in the life of a trust. They manage trust property and fulfill the wishes of the trust creator (or settler), as outlined in the terms of the trust document.

However, being a trustee is not easy. It involves complex legal requirements and responsibilities.

If you have been named trustee of a friend or family member’s trust, you are legally regarded as a fiduciary, which means you are held to especially high standards. You must fulfill your duties with diligence and attention to detail, treating the trust property with the same care as though it were your own. Missteps along the way could expose you to expensive lawsuits and personal liability.

For these reasons, it’s important to enlist legal help when serving as a trustee. At VanNess & VanNess, P.A., we have a wealth of experience and knowledge handling all aspects of trust administration in Florida.

Our attorneys can assist you with every detail of the trust administration process, including:

  • Interpreting the terms of the trust
  • Maintaining detailed trust accountings
  • Preparing trust-related tax documents
  • Resolving any disputes with beneficiaries
  • Prudently managing trust property and investments
  • Making distributions as appropriate
  • Keeping the beneficiaries informed of relevant information
  • Enforcing trust claims and defending legal actions against the trust

By ensuring that the trust is administered properly, efficiently and effectively, our lawyers can shield you from costly pitfalls. We offer the peace of mind that comes with reliable and vigilant legal guidance.

Learn more about our trust and estate administration services.


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