Trustee Settlement and Discharge

Trustees get protection; beneficiaries face claim deadlines

Florida law creates a way for trustees to settle accounts and gain protection from claims without a final court order. It covers trusts that are irrevocable, or become irrevocable, on or after the law’s effective date. Trustees must substantially comply with their duties to inform beneficiaries and provide accounts. They can use this process after six months following acceptance, when the trust ends or they resign or are removed. Trustees must send disclosures to qualified beneficiaries, cotrustees, the immediate successor if the trust continues, and others reasonably believed affected. Disclosures must include contact details, trust status, and a plan listing expected distributions, debts, expenses, taxes, and reasonable reserves. They must also include any accounting not previously provided, unless waived, and an objection warning in at least 12-point type. A timely written objection blocks this process; no special form or reasons are required. The law measures the 60-day deadline from sending, but the required warning measures it from receipt. Waiving the right to object counts as letting the deadline pass. Without a timely objection, trustees gain protection after completing all planned distributions or transfers. This protection covers claims about adequately disclosed matters, including failures to inform and account, with the effect of final court approval. Other ways to settle trustees’ accounts remain available.