It can be an honor to be named as a successor trustee of a trust. It is also a serious responsibility. You want to continue to administer the trust in a way that would meet with the approval of the previous trustee. To better enable this, we recommend, if at all possible, that you speak with our attorney before the current trustee has passed on.
This will allow you to have a clear understanding of the goals for the trust and help inform any decisions that need to be made regarding the administration of the trust.
AV Preeminent* rated, Master of Laws in Elder Law, member of the National Academy of Elder Law Attorneys (NAELA), member of the Academy of Florida Elder Law Attorneys (AFELA)
At The Charles Law Offices, our Clearwater successor trustee attorney can help you face the various issues that will present themselves to you as a successor trustee, including:
- Compliance with the laws that govern trusts
- Dealing with beneficiaries
- Dealing with tax issues and the IRS
- Inventory and any necessary appraisal of assets
- Payment of creditor claims
- Distribution of assets
Being named as a successor trustee is similar to being named as a personal representative to an estate. There are numerous responsibilities and failing in those responsibilities can lead to personal liability for breach of fiduciary duty. Effective legal guidance is the best assurance against that possibility. Attorney Susan Charles holds not only a Juris Doctor (J.D.) but also a Master of Laws (LL.M.) in Elder Law.
Contact a Largo Fiduciary Duty Attorney at The Charles Law Offices
If you are facing the responsibilities of a successor trustee, we can help you face that role and its challenges with the confidence that comes from working with a firm you can rely on. At The Charles Law Offices, we take pride in the level of support we provide to our clients. To schedule a free initial consultation with our Florida lawyer, call 727.475.6340, toll free at 866.607.6531 or simply contact us online. We accept credit cards for our clients' convenience.
Offices in Clearwater - Largo - St. Petersburg
*AV Preeminent and BV Distinguished are certification marks of Reed Elsevier Properties Inc., used in accordance with the Martindale-Hubbell certification procedures, standards and policies. Martindale-Hubbell is the facilitator of a peer review rating process. Ratings reflect the confidential opinions of members of the bar and the judiciary. Martindale-Hubbell ratings fall into two categories: legal ability and general ethical standards.
