In a trust, each year, the beneficiary is entitled to receive trust accountings. These accountings show how much is remaining in the trust, all transactions made from/with the trust, and what assets are in the trust. You can receive a detailed report of this information which includes commissions or taxes paid. Florida statute says you can simply send bank statements. However, sometimes trustees don’t do this. As attorneys representing beneficiaries, we can demand accountings to remedy the improperly handled trusts. As attorneys representing trustees, we can help prepare the accountings to ease this process.
In probate cases, when filing a petition to discharge, accountings can get waived. Otherwise, the personal representative gets tasked with providing accountings for the estate. If you’re an interest person, you’re entitled to an inventory of assets and a detailed report of how the money was expended, invested, or otherwise handled annually. This applies to guardianship proceedings as well.