Q: Trust beneficiaries: do you know what to look for?
- In Palm Beach or Broward trust accountings.
- Under the Florida Trust Code. ….
- Do you know what you are ENTITLTED to?
- Do you know what information you MIGHT get?
- The estate is not the same as the trust – although they can be very closely related and work together
- A person has an “estate” when they die although they may, or may not, “probate” it
- A person may also have a trust, such as a living trust or a revocable trust (which becomes ir-revocable upon death)
- Most living trusts and revocable trusts are obligated to the pay the debts of the person who passed away and created the trust
- Don’t confuse an estate inventory with a trust accounting.
- Know what to look for in trust accountings, estate inventories and estate accountings….. after all………. The devil is in the details