Objecting to a Florida Trust Accounting

Tue 15th Aug, 2023 Probate and Trust Litigation

A Florida trust accounting is a document that provides an overview of the financial transactions of a trust. It is important for beneficiaries to review trust accountings carefully to ensure that the trustee is properly managing the trust assets. If a beneficiary believes that the trustee has breached their fiduciary duties, they may have the right to object to the trust accounting.

The time limit for objecting to a Florida trust accounting is set forth in Florida Statutes Section 736.1008. It is often standard practice for a trustee to issue a notice the effect of which is to limit to 6 months the time during which a trust beneficiary may object to or challenge the transactions identified on the trust accounting. Sample notice language is identified in a Florida statute, but the actual language used does not need to be exact:

“An action for breach of trust based on matters disclosed in a trust accounting or other written report of the trustee or a trust director may be subject to a 6-month statute of limitations from the receipt of the trust accounting or other written report. If you have questions, please consult your attorney.”

There are a few exceptions to the 6-month deadline. For example, if the beneficiary did not receive the Florida trust accounting within a reasonable time, they may be able to object to it later. Additionally, if the beneficiary is under a disability, the deadline may be extended.

The 6-month deadline begins to run from the date that the beneficiary receives the trust accounting, not the date that it is sent. This means that it is important for beneficiaries to open and review their trust accountings promptly.

If a beneficiary objects to a Florida trust accounting, the trustee must respond to the objection within 60 days. If the trustee does not respond, or if the beneficiary is not satisfied with the trustee’s response, the beneficiary may file a lawsuit against the trustee.

It is important to speak with an attorney as soon as possible if you believe that you have a claim against a trustee. The time limits for filing a lawsuit are very strict, and it is important to act before it is too late.

If you have any questions about objecting to a Florida trust accounting, contact the experience trust litigation attorneys at Purcell, Flanagan, Hay & Greene P.A.