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Are Beneficiaries of a Florida Trust Entitled to a Trust Accounting? Yes!

Uncategorized Apr 16, 2019
post about Are Beneficiaries of  a Florida Trust Entitled to a Trust Accounting? Yes!

Beneficiaries of a Florida trust have a right under Florida Probate and Trust law to “relevant information.” This includes accountings. Therefore, when you are the beneficiary of a Florida trust, you have a right to order an accounting of that trust. In fact, Florida trustees are required to make a trust accounting annually. In regards to a Palm Beach estate, personal representatives are required to file an inventory and then an accounting before they close the estate. As a beneficiary of a Palm Beach trust, the Florida Trust Code gives you this right. If you are the beneficiary of a Florida estate, the Florida Probate Code also gives you the right to an accounting.

The Third District Court of Appeal recently dealt with a matter involving an accounting action and breach of fiduciary duty. This case is called Turkish v. Brody. Here, the decedent’s daughter brought an accounting action against the decedent’s son and granddaughter. The decedent’s daughter brought this action against them both as individuals and trustees, alleging breach of fiduciary duty. To read the entire case, click here.

Florida Statute 736.0813 (d) says that “a trustee of an irrevocable trust shall provide a trust accounting, as set forth in s. 736.08135, from the date of the last accounting or, if none, from the date on which the trustee became accountable, to each qualified beneficiary at least annually and on termination of the trust or on change of the trustee. “To read the entire relevant statute, click here.