When Are Florida Beneficiaries Entitled to an Accounting From the Trustee?

Do you have a right to a trust accounting? What about a complete copy of the trust charter? Florida trust lawyers know that trustees may be hesitant to give you documents you are legally entitled to. What documents are you entitled to under Florida probate law? Check out this recent appeal from Indiana to see why time is of the essence when demanding the records you are entitled to.

Right to Inspection

• Florida trustees administer trusts for the benefit of beneficiaries.
• These trusts usually contain various investments that should be monitored by wise beneficiaries.
• Although you trust the trustee, remember what Richard Nixon said “trust but verify.“
• That means you have a right to inspect certain records of the trust.
• Do you know which?
• Florida trust attorneys know how to get the documents and what documents to look at.
• Show me the money!
• Follow the money to know where the trust is going.
• When is the last time your Florida probate attorney requested a trust accounting?
• It may be time.
• Do you know what to look for?
• How can you be sure a Florida trustee is administering the trust prudently?

Schrage vv. Seberger Living Trust

• This was an interesting trust appeal from the Court of Appeals in Indiana.
• So what does that have to with Florida estate litigation?
• The principles are the same, if you snooze you lose.
• Remember, you have a right to the documents, and failure to exercise those rights could result in losses down the road.
• Here, a woman had restated her trust several times always using the same attorney.
• That same probate attorney would become the successor trustee once she died.
• One of the alleged beneficiaries then asked for a copy of the trust documents and the lawyer told her he was under no obligation to give them up.
• Was he right?
• You will have to read the case to find out!

Want to learn more?

Check out the entire case by clicking here.

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