David Howard Goldberg, P.L.

What can complicate trust administration?

One of the benefits of a revocable living trust is that it allows the assets funded within it to bypass probate according to the instructions left within the trust. Whereas probated assets may linger in the process for up to a year, trust administration may be settled within a month or two, barring any complications. Some of the factors that may complicate a Florida will going through probate may also complicate a trust after the death of the trustor.

Because of the necessity of having original documents with original signatures, the distance between the estate, its beneficiaries and the successor trustee may bring delays, but not anything that would cause concern. What may indicate trouble is if the beneficiaries disagree on the administration of the trust or decide to contest its validity. Challenging a trust requires similar arguments to those for challenging a will, but it is more difficult to challenge a trust.

Complex assets, such as an interest in a family business, intellectual property rights or other difficult to value property may require appraisals. This can slow the process down, especially if the beneficiaries disagree with the appraisal. As with any aspect of estate administration, the involvement of the IRS can add eight months or longer to the wait before the trustee can disperse the assets in the trust.

While a trust can certainly help streamline the period of time following a loved one's death, there is always the chance matters will become cloudy. The person responsible for trust administration carries considerable responsibility and potentially liability. Many Florida trustees seek the assistance of an attorney to guide them through this challenging time.

No Comments

Leave a comment
Comment Information
Contact Us Now

Ask An Attorney About Your Options

Bold labels are required.

Contact Information

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.


Privacy Policy

Visit Our Office

David Howard Goldberg, P.L.
One SE 3rd Ave suite 1940
Miami, FL 33131

Phone: 305-760-8888
Fax: 305-760-8889
Miami Law Office Map