Today I received a copy of a recent Florida’s 4th District Court of Appeal dealing with a remainder beneficiary and a the ability to demand an accounting from a revocable trust before the death of a grantor. John J. Pankauski Sent me a well-written summary of the Case from October 26, 2016 which I have adapted for the purpose of this blog. The Case ruling stated that a remainder beneficiary of a Florida trust has no right to a trust accounting, when requested post-death, for the time period of the grantor’s life, absent breach of trust allegations. This was a revocable trust which became irrevocable upon the death of the grantor/settlor.
In Hilgendorf v. Estate of Coleman, the grantor or the person who created the trust was alive, competent, and was acting as her own trustee of her revocable trust. During grantor’s life, she was did not remain the trustee and a successor trustee took over the management of the trust. It appears that the grantor still continued to direct the actions of the successor trustee and to “run” things. The grantor never requested an accounting from the successor trustee during her lifetime. After the grantor passed away, the PR or executor of the decedents estate, who was also a beneficiary, requested an accounting for the time period when the grantor was alive and the when the trust was revocable.
Under the very limited facts of this case, the trustee was not required provide an accounting to the PR or the contingent beneficiary at the time: