Nobody likes to think about death, but it is an inevitability that we all must face. What is important is that, during our lives, we take the necessary steps to ensure our families and loved ones are adequately cared for when we are no longer there to provide for them. That is why it is crucial for you to create a trust through estate planning in Ponte Vedra. To make sure that your trust is executed correctly, you should plan on working closely with a trust administer.
Trust administration is a challenging process that requires the assistance of an attorney and CPA to ensure that everything is done correctly. Many different administrative duties and expenses revolve around the administration of a trust, which can have a significant impact on the beneficiaries.
Through proper trust administration, a professional handles everything from tax obligations to the actual delivery of funds to reduce the potential of costly errors. Some of the different types of tasks a trust administrator is likely to perform include:
- Notifying Trust Beneficiaries & Heirs
- Obtaining IRS Tax ID Number(s) for the Trust
- Filing a Final Income Tax Return for the Decedent
- Filing a Death Tax Return
- Filing Trust Income Tax Returns Annually
- Publishing a Legal Notice of the Death of the Grantor
- Marshaling All of the Trust Assets Together & Protecting Them
Ensure your wishes are met with estate planning in Ponte Vedra, FL. We help you create your trust and administer it to your specifications.