Sad but true, the death of a grantor, trustor, or settlor of a trust fund may reign in the terror and unabashed greed of many trustees.
The Florida Trust Code provides that a Trustee of an irrevocable trust is required to keep beneficiaries of the trust fund informed about the trust and its administration. <a href="http://www.jacksonvillelawyer.pro/lawyer-attorney-1335101.html" target="_blank" >Florida Revocable Trusts</a> become irrevocable upon the death of one or all of the grantors. Florida Statutes also dictate that the trustee make available to all beneficiaries certain accountings which will among other things:
• Show all cash and property transactions and all significant transactions affecting administration during the accounting period, including compensation paid to the Trustee; and
• Reflect the allocation of receipts, disbursements, accruals, or allowances between income and principal when the allocation affects the interest of any beneficiary of the trust.
If you are a Qualified Beneficiary of a Florida Trust and believe you are not receiving the information you are entitled to from a Trustee, contact a Jacksonville Beach Trust Attorney who can discuss with you several options on how you can remedy your situation.