Trust administration should not operate in the dark. In my practice, beneficiaries often want to know what the trust owns, what the trustee has spent, and when distributions will be made. Trustees may view those questions as distrust, but Florida law treats meaningful disclosure as a central fiduciary responsibility.
Who Is Entitled to a Florida Trust Accounting?
Florida Statute § 736.0813 generally requires the trustee of an irrevocable trust to provide an accounting to each qualified beneficiary at least annually, when the trust terminates, and when the trustee changes, subject to limited statutory exceptions.
A qualified beneficiary is not necessarily every person named somewhere in the trust. In practical terms, the group generally includes:
- Beneficiaries currently entitled or eligible to receive trust income or principal;
- Those who would become eligible if the current beneficiaries' interests ended; and
- Those who would receive property if the trust terminated under its terms.
While a trust remains revocable, the trustee's disclosure duties generally run only to the settlor, the person who created the trust.
Qualified beneficiaries may also request a complete copy of the trust instrument and relevant information concerning the trust's assets, liabilities, and administration. After accepting the trusteeship or learning that a trust has become irrevocable, the trustee may also have 60-day notice obligations.
What Must a Florida Trust Accounting Include?
A Florida trust accounting must be reasonably understandable and cover the period since the last accounting, or from the date the trustee first became accountable if no prior accounting exists.
Under Florida Statute § 736.08135, the accounting should identify the trust, the trustee, and the period covered. It must also disclose:
- All cash and property transactions;
- Receipts, disbursements, realized gains, and realized losses;
- Compensation paid to the trustee and the trustee's agents;
- Trust assets on hand, including carrying or acquisition value and estimated current value when reasonably available;
- Known noncontingent liabilities;
- Significant transactions affecting administration; and
- Allocations between income and principal when they affect a beneficiary.
A final accounting must also include a plan for distributing any assets that remain. Merely sending a pile of bank or brokerage statements may not be sufficient if those documents do not clearly disclose the information required by the statute.
How Can a Beneficiary Object?
A beneficiary should review an accounting promptly. Florida does not impose one universal objection deadline for every situation.
For matters adequately disclosed in a trust accounting or other trust disclosure document, Florida Statute § 736.1008 may bar a breach-of-trust claim unless a court proceeding is commenced within six months after receipt of the disclosure document or an applicable limitation notice, whichever is later.
Florida also created a separate nonjudicial settlement-and-discharge procedure effective April 29, 2026. When that procedure applies after a trust terminates or a trustee resigns or is removed, a beneficiary generally has 60 days after receiving the statutory disclosure and notice to deliver a written objection. The objection does not have to state its grounds or follow a particular form. However the notice must include:
“NOTICE: Any claim or cause of action you might have against the trustee arising from any matter disclosed in a trust disclosure document may be barred unless a written statement objecting is received by the trustee from you within 60 days after your receipt of this trust disclosure document and notice. If you have questions, please consult your attorney.”
These are different procedures. A beneficiary should not assume there are always six months, or that every accounting carries only a 60-day deadline.
Can a Beneficiary Waive an Accounting?
Yes. A qualified beneficiary may waive the trustee's duty to account, but the waiver must be in writing. The beneficiary may later withdraw the waiver in writing, although the withdrawal applies only to future accounting periods.
Waiving an accounting is different from consenting to a transaction or releasing a trustee from liability. Florida law may protect a trustee when a beneficiary knowingly consents to, releases, or ratifies conduct. That protection may not apply when the trustee used improper conduct or the beneficiary did not know their rights or the material facts surrounding the potential breach.
Beneficiaries should understand exactly what they are signing before waiving information or releasing claims merely to speed up a distribution.
What Happens if the Accounting Is Missing or Deficient?
A beneficiary may begin by sending a written request identifying the missing accounting, supporting records, or unexplained transactions. If the trustee does not respond adequately, a court may:
- Order the trustee to provide an accounting;
- Compel the trustee to perform required duties;
- Suspend or remove the trustee;
- Reduce or deny trustee compensation;
- Appoint a special fiduciary;
- Require the trustee to restore money or property; or
- Grant other appropriate relief.
Florida law provides these remedies when a trustee violates a duty owed to a beneficiary.
Guidance From a Miami Lakes Florida Trust Attorney
As a Miami native and Florida trust attorney, I have seen how poor records and limited communication can turn a manageable trust administration into a serious family dispute. At Gold Legacy Law, PLLC, I help trustees fulfill their fiduciary duties correctly and help beneficiaries obtain the information Florida law provides.
For guidance regarding a Florida trust accounting, contact Gold Legacy Law, PLLC at 305-556-5209 to schedule a consultation with a Miami Lakes trust attorney.
Disclaimer: This article is provided for informational purposes only and does not constitute legal advice. Reading this content does not create an attorney-client relationship between you and Gold Legacy Law. For legal advice regarding your personal situation, please contact our office to schedule a consultation.
