Estate & Trust Administration
Message to Fiduciaries (i.e., Executors and Trustees):
Fiduciary – n. pl. fi·du·ci·ar·ies
“One, such as an agent of a principal or a company director, that stands in a special relation of trust, confidence, or responsibility in certain obligations to others.”
The American Heritage® Dictionary of the English Language, Fourth Edition
Copyright © 2000 by Houghton Mifflin Company.
The Administration of an Estate and/or Trust in Florida requires that you, as the named Executor and/or Trustee adhere to certain and required duties and responsibilities. These duties have been codified by Florida law, and provide a strict framework by which you need to fulfill your fiduciary obligations. Contact us to be certain that you understand what those obligations are.
Message to Beneficiaries:
Beneficiary – n. pl. ben·e·fi·ci·ar·ies
“The recipient of funds, property, or other benefits, as from an insurance policy or will.”
The American Heritage® Dictionary of the English Language, Fourth Edition
Copyright © 2000 by Houghton Mifflin Company.
As a beneficiary, you have entitled to certain rights. At a minimum, an executor or trustee is required to:
* Keep you informed
* Administer and invest the assets of the trust impartially and in the best interests of all the beneficiaries
* Invest the assets of the trust prudently by maximizing the return and minimizing the risks of the trust investments
* Seek competent advice regarding investments from qualified and knowledgeable advisors
* Communicate with you to determine the investment strategy for the trust
* Account for the trust periodically and at your request, so that its earnings, expense and distributions are clear and understandable to you
* Avoid entering into private dealings with the trust
* Act in accordance with the terms of the trust
* Charge only reasonable fees and expenses
