What is a Notice of Trust under Florida Law?
If you’re involved in a Florida trust, there are two types of notices of trust. And let’s face it, everyone is using Florida trust to hold property, manage property, and leave inheritances.
The first notice of trust is what’s required to be sent to you, a beneficiary, from your trustee. The trustee is supposed to identify himself or herself, tell you that you’re entitled to accountings and give you the address of the trustee. That’s the first type of notice of trust.
But there’s a second type of notice of trust; there’s a second type of notice of trust that’s required to be filed or given notice when somebody dies. Such as the person who is the creator or grantor of a revocable trust.
Why? Because in Florida, like many states, a revocable trust or a living trust is responsible for the debts and obligations of the creator, or the settlor’s estate. So if the settlor dies, the person who created the trust dies, that rev trust is responsible for the expenses of administration as well as the debts. The trustee needs to give proper notice of that so that the world knows.