Need to administer a trust but are unsure of what to do and paralyzed by fear of making a serious mistake? The Law Firm Of Myrna Serrano Setty, P.A. provides the compassionate and knowledgeable trust administration services you need to administer your trust with ease.
In a vacuum, trust administration is complicated. Handle it in real life, especially in the circumstances in which it typically needs to be addressed—after the loss or incapacitation of a loved one—and things are even more challenging. Why? You’re already under so much emotional and mental stress. Adding the need to not only learn the ins and outs of trust administration but also tackle all of the details of the trust administration process adds an unnecessary load to the already heavy burden you’re shouldering.
But with trust administration law firm The Law Firm Of Myrna Serrano Setty, P.A., you’re not alone and free from the need to take on an additional burden. Instead, you can focus on what truly matters—grieving, healing, and moving forward with your life in a way that honors your lost loved one.
Based in West Central Florida with offices in Tampa and Wesley Chapel, FL, The Law Firm Of Myrna Serrano Setty, P.A. knows the needs of people just like you in Land O' Lakes, FL, throughout the Tampa Bay area, as well as the entire state, at that.
Trust administration requires a considerably careful attention to detail, adherence to somewhat niche legal requirements, and a deep understanding of the trustor’s wishes. The Law Firm Of Myrna Serrano Setty, P.A. will guide you through the entire process, drawing on years of experience doing just that for countless other clients.
Trust administration involves managing and distributing assets that are held in a trust according to the terms outlined in the trust. This process generally begins upon the death or incapacitation of the trustor, that is, the person who created the trust. Trustees are responsible for managing the trust and have a fiduciary duty to act in the best interests of the beneficiaries of the trust.
You might be thinking that administering a trust is simply a matter of taking care of paperwork, and by extension, something you can handle on your own. That’s true in the abstract, but in reality, administering a trust is a bit more than just filling out and filing paperwork. To correctly fulfill your duty as a trustee in a way that complies with the law, you’ll need a decent amount of knowledge. A trust administration attorney can step in and help you out in some pivotal ways, including:
As you begin the process by going through the trust, you may already realize you are exceeding your capacity to handle administering the trust. Although you’ll be able to read the language since it’s written in English, things may not quite be understandable, to the point where it could just the same be written in a completely different language. A trust administration attorney can step in and review the documents of your trust and break things down so you understand everything, including your responsibilities and the trustor’s intentions.
As the trustee, you’ll have many responsibilities to fulfill, including:
This can be complicated, depending how the trust is structured, among other reasons. A trust administration lawyer will provide you with guidance that translates to you doing all this problem-free.
To our point of trust administration not just being a matter of filing paperwork, beneficiaries sometimes argue among themselves. Common issues that lead to disputes include:
Resolving these disputes can go as far as to require legal intervention. An experienced trust administration attorney can help mediate these disputes before they go that far. If necessary, they can represent you in court.
Trusts are subject to specific tax rules. General tax rules are somewhat complicated, so handling even more niche tax considerations may require professional help. A trust administration lawyer can do just that, filing the correct tax returns and ensuring the trust complies with tax law.
The Law Firm Of Myrna Serrano Setty, P.A.
If you are in Land O’ Lakes, FL, don’t leave your trust administration needs to chance. Instead, take a simple step to manage it with as little stress as possible, all without sacrificing the outcome one bit. Email or call The Law Firm Of Myrna Serrano Setty, P.A. at (813) 686-7175 today for the support and guidance you need. Secure peace of mind with our trust administration services now.
(By Appointment Only)
2236 Ashley Oaks Circle
Suite 102,
Wesley Chapel, FL 33544
Phone: (813) 686-7175
Business Hours are 9:00AM to 4:00PM
