Do you have a suspicion that your Florida trustee has been administering your trust fraudulently or improperly? Because of the vast amount of Florida trust litigation case, the Florida legislature has adopted manyrules to protect the beneficiaries of trusts from trustees not doing their jobs properly.
One specific example is the accounting requirement. Under the Florida Trust Code, trustees are required to provide an accounting to the beneficiaries of the trust on an annual basis. When a trust is administered by a family member or other person not in the trust business, it is rare to see compliance with the requirement to fully and properly account each year.
What happens when a beneficiary realizes after years or decades that the trustee has been misappropriating the assets of the trust?
- The beneficiary may have a valid claim against the trustee, but first must make sure the claim is within the the statute of limitations for Florida trust claims.
- The trustee can argue that the beneficiary took too long to complain about theadministration of the trust, dismissing the complaint.
- The exact limitations on claims against a trustee can be found in Florida Trust Code § 732.1008.
- Depending on the circumstances, Section 732.1008 sets out limitations of either 6 months or 4 years.
Palm Beach trust litigation attorneys know that the statute of limitations on Florida trust claims can lapse very quickly. If you have a trust set up in Boca Raton or Pomano Beach, and you are worried about how your trustee is administering the assets, contact your Florida trusts attorney to find out if you have a viable claim within the statute of limitations.
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