Probate & Trust Administration

Probate & Trust Administration in Winter Haven, Florida

Probate is the lawful process that decides whether the will of a deceased person is legitimate. While it is up to each person to draft a legal will to allocate assets according to their preferences, it is up to a probate judge to decide whether the will's terms are lawfully valid. It is one of the crucial reasons why the attorney you hire must have probate and trust administration experience. Call us today at 863-293-1184 to learn more.

Hand Striking Gavel Near House Model — Winter Haven, FL — Straughn & Turner, P.A.

trust attorneys devoted to our clients

Trust Administration is the legal process of verifying the trust and then distributing the assets to the named beneficiaries. There are many steps, and it is a complex legal process that must be completed precisely. A trustee has many duties and an ethical responsibility to protect the trust assets and the beneficiaries' interests. You are ethically bound to act in the other's best interests. Because of this crucial legal and ethical standard, it is not recommended to do this independently. A trustee should always hire a professional trust administration attorney or law firm with extensive experience in assisting trustees through this specialized legal process.

The trust administration process

Trust administration involves paying taxes, settling debts, transferring property titles, and any other administrative tasks that must be handled to close out or resolve the decedent's estate. The primary duties involve management, investment, collection, and administration of the trust assets. It is also essential to keep detailed records, provide an accounting, an inventory, and possibly obtain appraisals. It is often necessary to prepare an income tax return, federal estate tax return, and a fiduciary tax return. Trust administration must be done following the documents prepared by those who created the trust.

guiding you through the process

The complexity of trust administration depends on the size of the trust estate and the type of trust. But no matter the size, there are still numerous steps that must be followed precisely and paperwork that must be filled out correctly. Trust administration is specific to each trust. The trustee's role will vary depending upon the trust owner's wishes and what is dictated by the trust documents. Contact us today at 863-293-1184 to schedule a probate and trust administration consultation.

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