Why Choose an Attorney-Owned Trustee Group as Your Trustee? Key Advantages for Florida Families

Why Choose a Professional Trustee Group as Your Trustee?

Selecting the right trustee is one of the most consequential decisions in estate planning. For Florida families, the choice often comes down to appointing an individual—such as a family member or friend—or engaging a professional trustee. Increasingly, professional trustee groups are emerging as a compelling alternative, offering a blend of legal expertise, objectivity, and continuity that individual trustees often cannot match. This article explores the key advantages of choosing a professional trustee group, with a focus on the unique needs of Florida families.

Appointing a professional trustee group as trustee can help preserve family relationships by removing the burden and potential for conflict from individual family members.

Understanding the Trustee’s Role

A trustee is responsible for managing and administering trust assets according to the terms set forth in the trust document. This includes investing assets, making distributions to beneficiaries, filing tax returns, and ensuring compliance with all applicable laws and fiduciary duties. In Florida, trustees are held to strict standards of loyalty, prudence, and impartiality, and can be held personally liable for breaches of these duties.¹

The Case for an Attorney-Owned Trustee Group

1. Professional Expertise and Fiduciary Responsibility

Attorney-owned trustee groups bring a depth of legal knowledge that is invaluable in trust administration. Trustees must navigate a complex web of state and federal laws, tax regulations, and reporting requirements. As the American Bar Association explains, trustees are expected to act with a high degree of care and legal compliance to fulfill their fiduciary duty.¹

Moreover, attorneys are bound by professional codes of ethics and are often insured against liability, providing an extra layer of protection for the trust.² This expertise is particularly critical in Florida, where trust law is nuanced and frequently updated.

“A professional trustee, such as an attorney, is less likely to make errors due to their knowledge and experience. Additionally, many attorneys carry liability insurance, offering an added layer of protection for both the trustee and the beneficiaries.”²

2. Objectivity and Impartiality

Family dynamics can complicate trust administration. Appointing a family member as trustee may seem logical, but it can lead to conflicts of interest, favoritism, or even legal disputes among beneficiaries. Professional trustee groups, by contrast, serve as neutral third parties. Their primary obligation is to the trust and its terms, not to individual family members.³

This objectivity helps ensure that decisions are made in the best interests of all beneficiaries, and according to the trust creator’s intent—free from emotional bias or external pressure.

“A corporate trustee follows your trust terms objectively. They do not allow emotions or family wishes to impact how they manage the trust. Therefore, you can rely on the fact that your trustee will follow the terms of the trust to the letter to ensure your wishes are carried out.”³

3. Continuity and Stability

Individual trustees may become incapacitated, pass away, or move out of state. This can disrupt trust administration and create uncertainty for beneficiaries. Professional trustee groups, however, are structured to provide uninterrupted service over the life of the trust. If one attorney retires or is unavailable, another qualified professional can seamlessly step in.³

This continuity is particularly valuable for long-term or multi-generational trusts, which may require decades of consistent oversight.

4. Comprehensive Financial Management

Managing a trust is not just about safeguarding assets—it’s about growing them. Attorney-owned trustee groups often have access to a network of financial professionals, accountants, and investment advisors. This allows them to implement sophisticated investment strategies, manage tax liabilities, and ensure that the trust’s assets are preserved and enhanced for future generations.

Professional trustees are also adept at handling complex assets, such as real estate, business interests, or intellectual property, which may be beyond the expertise of an individual trustee.

5. Risk Mitigation and Legal Compliance

Trustees are personally liable for breaches of fiduciary duty. Even well-intentioned family members can make mistakes that expose them to lawsuits or financial penalties. Professional trustees, by virtue of their training and experience, are less likely to make such errors. They also carry professional liability insurance, which can protect the trust and its beneficiaries in the event of a mistake.²

In Florida, where probate and trust litigation is common, this risk mitigation is a significant advantage.

6. Privacy and Confidentiality

Trusts are often used to maintain privacy in estate planning. Attorney-owned trustee groups are bound by strict confidentiality rules, ensuring that sensitive family and financial information remains secure.

Comparing Professional Trustee Groups to Other Options

Criteria	Family Member Trustee	Bank/Corporate Trustee	Professional Trustee Group
Legal Expertise	Limited	High	High
Objectivity	Potentially Compromised	High	High
Continuity	May be Disrupted	Strong	Strong
Cost	Often Lower	Statistically higher; may lack the personal touch of boutique, attorney-led teams	Moderate to High
Liability Insurance	Rare	Standard	Standard
Flexibility	High (but may lack expertise)	Moderate	High (with legal expertise)
Privacy	Variable	High	High

Appointing a professional trustee group as trustee can help preserve family relationships by removing the burden and potential for conflict from individual family members.

Key Considerations for Florida Families

Complex State Laws

Florida’s trust and estate laws are particularly complex, with unique statutes governing homestead property, creditor protection, and tax treatment. Attorney-owned trustee groups specializing in Florida trust administration are well-versed in these nuances, reducing the risk of noncompliance and litigation.²

Family Harmony

Appointing a professional trustee group as trustee can help preserve family relationships by removing the burden and potential for conflict from individual family members. This is especially important in blended families or situations where beneficiaries have competing interests.³

Asset Protection and Tax Savings

Professional trustees can structure and manage trusts to maximize asset protection from creditors and minimize tax liabilities, leveraging their legal and financial expertise to benefit the trust’s beneficiaries.

Potential Drawbacks: Weighing the Costs

While professional trustee groups offer many advantages, they may also charge higher fees than individual trustees. However, these fees often reflect the value of professional expertise, risk mitigation, and continuity. For many families, the peace of mind and protection provided by a professional trustee far outweigh the additional cost.

Conclusion: Making the Right Choice for Your Family

Choosing a trustee is a deeply personal decision that should be made with careful consideration of your family’s needs, the complexity of your assets, and your long-term goals. For Florida families seeking expertise, objectivity, and continuity, a professional trustee group offers significant advantages over individual or corporate alternatives.

By leveraging the knowledge, experience, and resources of a dedicated legal team, you can ensure that your trust is administered with precision, transparency, and care—protecting your legacy for generations to come.

Sources

1. American Bar Association – The Role and Responsibilities of the Trustee

2. Florida Bar Journal – Trust Administration in Florida: Key Duties and Common Pitfalls

3. ACTEC – Why You Might Not Want a Family Member to Serve as Trustee

4. Cornell Law School Legal Information Institute – Fiduciary Duty

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Heather Maltby, Esq. and Jennifer Akin, Esq. of Coastal Trustee Group, LLC, of St. Augustine, Florida, providing lifetime, at-need, and multi-generational professional trustee services.

Coastal Trustee Group LLC (CTG) is an independent, boutique trustee firm dedicated to serving families in Northeast Florida and the Fun Coast with integrity, objectivity, and care. Founded by attorneys Jennifer Akin and Heather Maltby— both trusted names in St. Augustine estate law— CTG was created to provide a better solution for families who want professional, impartial trust administration without the conflicts or burdens that can arise when appointing an individual trustee. For a consultation, request a consultation online or call (904) 827-7777.

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