Florida Trust Beneficiary Rights: Know Your Rights!

If someone has established a trust in your name, it’s vital that you know about Florida trust laws and how they apply to you. Being a beneficiary of a trust can be overwhelming, especially if you didn’t initially know the trust existed before the creator’s death. Hiring an experienced trust or estate planning lawyer can be a smart move. They can help you understand your Florida trust beneficiary rights and make sure nobody takes advantage of your position during this time.

It’s understandable to want the right kind of experienced legal help when you are set to inherit from a trust. As a beneficiary, you are owed certain rights in connection with the trust. Having a trust attorney by your side to help you understand everything can be helpful.

You should have someone in your corner who understands Florida trust laws and has experience handling trust cases similar to yours. Our firm can provide you with guidance and legal assistance as needed.

Why Should You Hire a Trust Attorney?

There are many important reasons to hire a trust attorney. They can make sure your case is being handled properly. Without proper legal support, you could end up making a costly mistake. The right lawyer can ensure you are able to access your trust’s funds without problems.

Douglas A. Oberdorfer is a proud and active member of the Florida Bar and has considerable knowledge in handling estate planning cases just like yours. His experience can help your case.

Creating a trust is fairly common throughout the state. Recent data from the Florida Office of the State Courts Administrator showed that over 700 trusts were filed in the state’s probate court during the 2023-2024 fiscal year.

The median household income in Florida for a family of four as of 2024 is approximately $104,000, according to data from the U.S. Census Bureau. It’s not rare for a household with this level of income to create a trust.

Consider Additional Grief Support

There’s nothing wrong with preparing yourself and your family for significant financial changes, particularly at the end of life. To assist in speaking with your family about your intentions and your estate plan, you can reach out to a local support group like GriefShare or Healing Hearts.

These groups feature professionals who can direct the conversation properly. Their services can be a significant help to you.

Florida Trust Beneficiary Rights

In the state of Florida, trust beneficiaries are entitled to many different things, including the right to transparency about all funds and the source of those funds. You want to make sure you have an experienced estate planning or trust lawyer by your side throughout this ordeal, if only to remind you of your rights and protect your interests.

Here are some of the rights that every trust beneficiary is entitled to in Florida:

• Right to Information: You have the right to be informed about all the terms of the trust, including any liabilities, assets, and financial transactions connected to it. The trustee who controls the trust must provide a copy of the trust document upon request.
• Right to Distributions: You have the right to receive distributions of any trust assets in accordance with the terms laid out in the trust document. If you have any questions regarding the terms, you should contact the trustee or your lawyer for help.
• Right to Accountability: If you suspect that the trust has been mismanaged and the trustee is not doing their job properly, you have the right to pursue accountability through legal channels. You can take legal action to force the trustee to perform their duties properly or remove them from their position.

FAQs

What Rights Do Beneficiaries of a Trust Have in Florida?

The rights beneficiaries of a trust have in Florida are related to the distribution of assets. Beneficiaries are entitled to all relevant information regarding the trust. They are also entitled to accountability. If they believe the trust is not being managed correctly, they can take legal action to compel the trustee to act accordingly or be removed. Your lawyer can help you take the right legal steps.

Does an Executor Have to Show Accountings to Beneficiaries in Florida?

Yes, an executor of a Florida trust has to show accountings to beneficiaries if requested. This includes providing a detailed financial report of every way the estate was managed. The executor must provide this report under Florida state law. Otherwise, they could suffer legal penalties. The accounting should include all estate income, expenses, and distributions. The beneficiaries have the right to review all supporting documents.

How Long Does a Trustee Have to Notify Beneficiaries in Florida?

How long a trustee has to notify beneficiaries in Florida of a trust’s existence is within 60 days of accepting the trustee position. This also applies when a revocable trust transitions into an irrevocable trust. The required notice must include the trustee’s name and address, the right to request a copy of the trust document, and the right to request all accountings. The trustee could face legal penalties if they fail to notify.

Should I Hire a Trust Attorney?

Yes, you should hire a trust attorney. Dealing with a trustee can be overwhelming if you are in this alone. You don’t have to create a trust or estate plan by yourself. An experienced trust lawyer can help you determine the right course of action. They can help you take legal action against the trustee if they try to take advantage of their position or fail to notify you of certain details regarding the trust.

Reach Out to a Trust Attorney Today

If you stand to benefit from a trust or have established a trust for your loved ones, it’s vital that you fully understand your rights as a trust beneficiary. Otherwise, the wrong people could manipulate your position and prevent you from accessing the trust.

The legal team at the Law Office of Douglas A. Oberdorfer, P.A. can assist you in building a case against the trustee and help you maintain your position. Contact us to speak to someone who can help you.