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What are my Rights as a Florida Trust Beneficiary

Transcript

By Phillip B. Rarick, Weston Estate Planning Attorney

If you are a qualified beneficiary under a Florida trust, you have 5 important information rights.

  1. Within 60 days after acceptance of the trust, the trustee must notify you of his acceptance to act as trustee and give you his full name and address.

  2. Within 60 days after the date the trustee acquires knowledge of the creation of an irrevocable trust, the trustee must notify you of the trust’s existence; the identity of the settlor or trustmaker.; and other information rights discussed here.

  3. Upon request, the trustee must provide you with a complete copy of the trust document.

  4. The trustee must provide a very detailed trust accounting at least every year and possibly more frequently.

  5. The trustee must provide you with relevant information about the assets and liabilities of the trust and the particulars relating to administration.

This is just a short summary of your information rights. You have numerous other rights.

If you are a beneficiary of a trust and believe you are not being kept fully informed about the trust administration then you must assert your rights without delay. If you do not timely assert your rights, you may lose them. Let me know if I can help. Call (305) 556-5209.