What are the duties of a trustee of a family trust?

Last updated on: May 22, 2020
Does the trustee of a family trust have to provide the beneficiaries with all banking transactions i.e. investments, account balances so that all beneficiaries can figure what was left to them on a even split. A request has already been made twice with no response.
Please sign in to answer this question.
Answer
About
Rebecca L. Nichols, elder law & estate planning solicitor, brings over a decade of expertise in estate planning to her practice.

Trustees in Florida are entrusted with a range of duties essential for administering the trusts in Florida. Failure to fulfill these Florida Trustee Duties could potentially lead to a breach of trust, leaving the trustee vulnerable to legal claims from beneficiaries. > Beneficiaries of a family trust have the right to request information regarding the trust's financial transactions, investments, and account balances. The trustee has a fiduciary duty to act in the best interests of the beneficiaries, which includes providing transparency and accountability in the administration of the trust. > While there is no universal requirement specifying the exact level of detail the trustee must provide, it is generally expected that trustees furnish beneficiaries with sufficient information to understand the trust's financial status and ensure an equitable distribution among all beneficiaries. > If beneficiaries have made multiple requests for information and have not received a response from the trustee, they may consider taking further action. > This could include consulting with a trust attorney to explore legal options, such as filing a petition with the court to compel the trustee to provide the requested information. > Open communication and transparency between trustees and beneficiaries are essential for maintaining trust and ensuring the fair administration of the trust assets. Learn more about your duties as a Florida trustee

04/01/2024

Answer
About
Middlesex County Criminal Defense Lawyers Near You - New Brunswick Criminal Lawyer - Marshall Criminal Defense Attorney - DUI Lawyer |

Middlesex County Criminal Defense Lawyers Near You - New Brunswick Criminal Lawyer - Marshall Criminal Defense Attorney - DUI Lawyer | middlsex county law firm | Need a criminal lawyer near you in Middlesex County? Call Marshall Criminal Defense at 877-450-8301 in New Brunswick, Edison, Woodbridge, Piscataway & East Brunswick. We have one of the winningest and most experienced teams of criminal defense lawyers in the state of New Jersey. Looking for a DUI lawyer? A drug offense attorney? Facing other criminal charges? We can help.

05/24/2023