What Information Must a Florida Trustee Give a Beneficiary?

The statute sets out several duties. Within 60 days after accepting the trust, the trustee must give notice of the acceptance, the trustee's full name and address, and the fact that the fiduciary lawyer client privilege in section 90.5021 applies.

Within 60 days after learning that an irrevocable trust was created or that a revocable trust became irrevocable, such as through the settlor's death, the trustee must give another notice. It states that the trust exists, identifies the settlor, and explains the right to request a copy of the trust instrument and the right to accountings.

On reasonable request, the trustee must provide a qualified beneficiary with a complete copy of the trust instrument and relevant information about the trust's assets, liabilities, and administration. The trustee of an irrevocable trust must also provide a trust accounting under section 736.08135 at least annually, on termination of the trust, and on a change of trustee.

A qualified beneficiary may waive accountings in writing and may later withdraw that waiver in writing for future periods. While a trust is still revocable, these duties are owed only to the settlor, as section 736.0603(1) provides. These reporting rules sit alongside the broader duties a Florida trustee owes.