Baskin Fleece

What’s the Difference between Trust Administration and Probate Administration?

Here's the difference between Trust Administration and probate administration

Trust administration is the process whereby assets and cash which were funded into a revocable or irrevocable trust during the decedent’s lifetime or “poured into the trust after his or her passing,” are gathered and made ready for distribution to the beneficiaries named in the trust. Trust administration also requires the filing of a notice of trust with the probate court and is the process whereby creditors are paid, and after all state and federal tax returns are filed and all creditors and other administrative expenses are paid, the trustee makes a final distribution of the trust assets and cash. The process is similar to Florida probate administration, but there is no circuit judge supervising the administration, nor is a fiduciary bond usually posted, and many times it can be accomplished more efficiently, and thereby cheaper and faster, than a full probate administration.

2 Comments

  1. Posted July 19, 2016 at 10:56 am | Permalink

    Thank you for the information. Probates and trusts are super similar. What exactly is the difference between a probate and a trust? I thought it was a trust done through a lawyer. Please answer my question! Thank you.

  2. avatar Sandra Olson
    Posted August 1, 2016 at 10:01 pm | Permalink

    My brother is the personal representative of my father’s probate case. In the court records it states the assets are confidential even to the beneficiaries. Why would they be confidential and kept from the beneficiaries? Also are the beneficiaries allowed to see the final accounting? He has breached every fiduciary duty to all beneficiaries and how do we go about obtaining this information? An order was signed by a circuit judge granting an order for the final accounting a petition by July 31,2016. I filed my own motion on July 29th for breach of fiduciary duty and requested a full final accounting of the entire estate. Did I waste my time and emotional energy?

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BaskinFleece, Attorneys at Law is located in Clearwater, FL and serves clients in and around Tarpon Springs, Largo, Seminole, St. Petersburg, Clearwater, Tampa, Safety Harbor, Belleair Beach, Indian Rocks Beach, Clearwater Beach, Oldsmar, Ozona, Valrico, Crystal Beach and Pinellas County. At BaskinFleece, our firm's primary focus is on contested estate, trust and guardianship matters in Clearwater, St. Petersburg, Tampa, Hillsborough and Pinellas County and throughout the state of Florida.

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Baskin Fleece
13535 Feather Sound Drive, Suite 200
Clearwater, Florida, 33762 USA
727.572.4545