EXECUTOR & TRUSTEE ASSISTANCE
What are my responsibilities as an executor or trustee?
Being named as an executor to a will or the trustee of a loved one’s trust is a great honor. It means this person is confident that you will look after the things and people they dearly treasure. It may seem like an overwhelming responsibility to accept, but an experienced lawyer from our firm can guide you through the process and answer and questions you have. It is important to know that there are differences between an executor and a trustee, and their responsibilities vary.
- Duties of the Executor of a Will
As the executor, you will be responsible for settling the deceased’s probate estate, which is the property that is in their individual name. It will be your job to collect all property, and then use the assets to pay final expenses, debts, and taxes. Lastly, you will distribute the remaining property as specified in the deceased’s will. If a will was not left, you will distribute property to heirs as determined by the laws of Florida. Your duties as executor will end once the property is distributed, which is normally a year to eighteen months after the passing of the loved one.
- Duties of the Trustee
As the trustee, you will be responsible for property that is placed in the deceased’s trust. You will manage this property for the benefit of the trust’s beneficiaries, which could last for many years, depending on the terms of the trust. When the trust terminates according to its terms and the property is distributed to the remainder beneficiaries, your duties as trustee will end.
Contact an experienced estate planning attorney in Stuart!
At Crary Buchanan, we understand that this is an emotional time, and we can support you during your duties. With over 85 years of experience, we are adept in many areas of estate planning, and we can guide you throughout the entire process. You will need to carry out a number of legal responsibilities as an executor or trustee, and it is important to have the representation of a knowledgeable law firm to ensure that everything is done in accordance with Florida’s laws.
It can be daunting to face these duties, but our firm will use our vast skill and professional excellence to help you accomplish the wishes of your beloved friend or relative. If you have been named the trustee or executor of an estate, don’t hesitate to call our team to learn what we can do to help.
If you have been named the executor or trustee of an estate and would like to learn more about how our firm can help, call 888-899-8161 to discuss your case.