Florida Trust Accounting
Who gets to see the books? And who has legal standing in a trust matter to get a Florida trust accounting? The answers may surprise you.
Who gets a Florida trust accounting?
Just as “not everyone” can participate in a Florida probate, you have to be connected to participate in a trust. (To read more about the probate process, click here.)
What?…
Who gets a Florida trust accounting is limited to qualified beneficiaries.
What’s a qualified beneficiary? Well, think of it as one who can get trust money right now, or who may get it when another beneficiary’s interest ceases. (Like, for example, if your mom or dad die, you might inherit their share of the trust. You don’t get money now, but you will get it in the future if there’s any trust money left. You and mom or dad in this example are qualified beneficiaries. And entitled to an accounting each year).
A qualified beneficiary is defined in the Florida Trust Code at 736.0103(19).
Want to learn more? Read this….
- Read Florida Trust Code Chapter 736. It will tell you all about Trust Law in Florida and explain beneficiary rights and trustee obligations or duties.
- For more information about legal standing in a trust contest, read the Cruz case. This 5th District Court of Appeal opinion dealt with adult children who challenged their father’s revocable trust. This case also dealt with a limitations notice. (To learn about standing in a Florida probate, you can read this for free by clicking here.)
- How long do you have to sue a trustee? Most probably 6 months or 4 years. As most lawyers say….”it depends !” Be sure to read this statute if you don’t believe the time limitations is really 6 months under certain circumstances.
- For more on revocable trusts, click here and here.
- To read a 2023 opinion on getting an accounting, read the Dunley opinion.
- Here is a short video on what to do if you are not receiving a Florida Trust Accounting.
- For a host of free videos from a trust litigation law firm, check out this link.