If you are a beneficiary of a Florida trust, you should know your rights. Most trust beneficiaries know some of their rights. For example, most beneficiaries realize that they are entitled to trust accountings. What else are beneficiaries entitled to?
- Did you know that, as a beneficiary of a Florida trust, you have the right to have your trustee administer the trust in good faith?
- Florida Statute 736.0801 states the following: Upon acceptance of a trusteeship, the trustee shall administer the trust in good faith, in accordance with its terms and purposes and the interests of the beneficiaries, and in accordance with this code.”
- This may seem simple, but it’s important and it’s the law.
- Do you know how many trustees we accuse of not acting in good faith?
- Trustees sometimes act mean-spirited and rude, while ignoring or paying no attention to a trust beneficiary. Is this acceptable?
- Do you know how many Florida trustees engage in conflicts of interest, in conflicted transactions and in acts of self-dealing?
- Remember, if your trustee has a conflict of interest, or self deals, those acts or transactions may be void, or voidable by your trust litigation law firm in Florida.