![]() The Legal Framework: Florida Statute 736.0813ħ36.0813 Duty to inform and account.- The trustee shall keep the qualified beneficiaries of the trust reasonably informed of the trust and its administration. This duty stems from the fact that trustees possess knowledge and information that beneficiaries cannot access independently, making it essential for trustees to reveal the complete truth about the trust’s affairs. 1897), the court held that a fiduciary agent or trustee must render an account and demonstrate the full performance of their trust duties. Without a comprehensive accounting, trustees can evade accountability for their actions, undermining the trust’s integrity and the beneficiaries’ rights. In this blog post, we explore the importance of trust accounting and the legal obligations imposed on trustees.įrom its inception, the law of trusts has recognized the trustee’s duty to keep beneficiaries informed about the administration of the trust and to provide an account of all trustee actions. Failure to fulfill this duty can result in breaches of fiduciary responsibilities, leaving beneficiaries without means of redress. A vital component of this accountability is the duty to inform and account, which requires trustees to provide complete and accurate records of their actions. ![]() With their broad discretion and limited oversight, beneficiaries heavily rely on the trustee’s accountability to ensure proper management of the trust. ![]() Trustees play a critical role in managing the assets of another person. ![]()
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