If you are a beneficiary of a trust in Florida, you have important legal rights — one of the most critical being the right to receive a trust accounting.

A trust accounting provides transparency into how a trustee is managing trust assets, including income, expenses, distributions, and fees. Without it, beneficiaries are left in the dark about whether the trust is being administered properly.

Florida law imposes clear obligations on trustees to provide this information and gives beneficiaries tools to enforce their rights when necessary.

What Is a Trust Accounting?

A trust accounting is a detailed financial report that shows how a trust has been managed over a specific period of time.

It allows beneficiaries to understand:

• What assets are in the trust
• How those assets are performing
• What expenses have been paid
• What distributions have been made

This report serves as a key mechanism for accountability and oversight.

What Must Be Included in a Trust Accounting?

A proper trust accounting typically includes:

• Income
• Interest
• Dividends
• Rental income
• Other earnings generated by trust assets

Expenses and Distributions

• Payments to beneficiaries
• Trustee compensation
• Professional fees (e.g., CPA, attorney)
• Administrative costs

Investments and Transactions

• Purchases and sales of assets
• Changes in investment holdings

Balances

• Beginning balance for the period
• Ending balance for the period

This level of detail allows beneficiaries to evaluate whether the trustee is acting prudently.

Trustee Duties Under Florida Law

Under Florida law, trustees have a duty to keep qualified beneficiaries reasonably informed about the administration of the trust.

This includes the obligation to provide accountings that comply with Florida Statute § 736.0813, which outlines the trustee’s duty to inform and account.

Among other requirements, the trustee must disclose:

• Trust assets and liabilities
• Transactions affecting the trust
• Compensation paid to the trustee

Unless properly waived, this duty is ongoing.

Who Is a “Qualified Beneficiary”?

Not every beneficiary has the same rights. A qualified beneficiary generally includes individuals who:

• Are currently entitled to distributions, or
• Would be entitled to distributions if the current beneficiaries’ interests ended

Qualified beneficiaries have the strongest rights to request and receive accountings.

When Can a Beneficiary Request an Accounting?



Florida law allows qualified beneficiaries to request a trust accounting at any time.

Trustees must provide the requested accounting within a reasonable period after receiving the request.

Even without a request, trustees are typically expected to provide periodic accountings as part of their ongoing duties.

Can the Right to an Accounting Be Waived?

Yes. In some cases, a beneficiary may waive their right to receive a trust accounting.

However:

• Waivers should be carefully considered
• They may limit your ability to monitor the trustee’s actions
• Legal guidance is strongly recommended before agreeing to a waiver

What Happens If a Trustee Refuses to Provide an Accounting?

If a trustee fails to fulfill their obligations, beneficiaries have several options:

1. Submit a Formal Written Request

• Often, a written demand is enough to prompt compliance.

2. Petition the Court

• Beneficiaries can file a legal action to compel the trustee to provide an accounting.

3. Seek Removal of the Trustee

• In cases of serious misconduct or noncompliance, the court may remove the trustee and appoint a replacement.

Why Trust Accounting Is So Important

A trust accounting is not just a formality — it is a critical safeguard.

It helps ensure that:

• The trustee is following the terms of the trust
• Distributions are appropriate and timely
• Expenses and fees are reasonable
• Mismanagement or misconduct is identified early

Without transparency, it becomes difficult to protect your interests as a beneficiary.

Common Issues Beneficiaries Encounter

• Trustees failing to provide timely accountings
• Incomplete or unclear financial reports
• Excessive trustee fees
• Unexplained transactions or distributions
• Lack of communication

Addressing these issues early can prevent larger disputes later.

When Should You Speak with an Attorney?

You should consider legal guidance if:

• You have not received an accounting
• You suspect mismanagement of trust assets
• You are being asked to waive your rights
• You have questions about trustee fees or distributions

Early intervention can help protect your rights and preserve trust assets.