Trust Administration Lawyer Palm Bay, FL
If a loved one or friend passed away recently, you may have questions as the one appointed to be the successor trustee or personal representative. You may have been named in the decedent’s documentation, and now there are legal and financial duties you must attend to. Our Palm Bay, FL trust administration lawyer knows that this role can seem overwhelming. But with our guidance, you won’t have to worry about making any mistakes during such a difficult time. Handling the estate of someone who passed on can come with heavy responsibility. However, our team at the Law Offices of Arcadier, Biggie & Wood can be the support you need to accomplish the duties that have been assigned to you. If you need help today, we are ready to begin!
Your Fiduciary Responsibilities
A trustee is considered a fiduciary, where there are legal and monetary responsibilities that someone must uphold. If you were given this role, then you have duties you may not even know exist. It helps to have a lawyer assist you with finalizing matters and handling the closing of the decedent’s estate. As our knowledgeable trust administration attorney can discuss with you, it is important to know the following:
- What the trust terms instruct you to do
- Which assets you can and cannot sell
- Diversification and investment of asset rules
- All estate and income taxes
- Accurate and thorough accounting as it applies to beneficiaries
- Notice of trust and other timeframes
- Your duties regarding probate and the last will and testament
Dealing With Potential Problems
If you are supposed to administer a trust, this means you are personally responsible if issues arise. If you make a mistake, beneficiaries may file a claim against you. While this role is a great honor as you carry out the wishes of someone who passed on, it can be challenging to deal with family related problems in the midst of your duties. This is why we always suggest having a legal team to guide you, so that you do not accidentally cause disputes. You do not have to go about your duties alone, as our team can take the lead so that you don’t have to worry about making unintentional mistakes.
Law Offices Of Arcadier, Biggie & Wood
Handling the estate of someone who passed away can seem like a daunting task. If you were chosen to administer a trust and carry out wishes as the decedent instructed, you may be understandably overwhelmed. But you can rest assured that our Palm Bay trust administration attorney can walk you through every step of the way so that the overall experience is less stressful. Our team at the Law Offices of Arcadier, Biggie & Wood understand this may be a sensitive time. You may be going through a period of grief yourself, along with being responsible for how someone’s legacy is handled. Let us support you so that no mistakes or serious disputes arise. We are ready to assist you!
