How Do I Settle a Trust in Florida?

No court proceeding is required to settle assets titled in the trust; the successor trustee administers and distributes them under the trust terms, and the court comes in only for a dispute, a trustee removal or judicial instructions. Assets the grantor left outside the trust pass through the pour-over will, and a small enough set can skip full probate: Florida sets no dollar limit for its Disposition Without AdministrationFla. Stat. § 733.402 (bond — required by default: "Unless the bond requirement has been waived by the will or by the courtVerified Sep 8, 2026View source; eligibility turns on other tests. The Florida probate decision tool checks whether any outside asset needs a court filing.

Trust assets remain reachable for the grantor's legitimate debts, so the trustee identifies and settles them before distributing. Florida has no separate trust creditor-notice step — the settlor's debts stay subject to the general claims and limitations period (up to 24 monthsFla. Stat. § 733.710 (2-yr absolute bar from death); § 733.2121 (only the personal representative publishes notice to creditors); § 733.702 (3-month nonclaim bar from PR publication — probate procedure, requires opening an estate); § 736.05055 (notice of trust is a court filing only, no creditor bar); § 736.05053 (trustee duty is to pay PR-certified estate expenses/claims, not to publish or serve creditor notice). No trustee-initiated/elective trust-creditor procedure in ch. 736.Verified Oct 17, 2026View source), which the trustee settles before distributing.

At the grantor's death the revocable trust becomes irrevocable and needs its own EIN from the IRS. The trustee files the grantor's final Form 1040 and, for income the trust earns after death, Form 1041 (the income tax return for estates and trusts), plus a Florida fiduciary income tax return where the state requires one. Estate or inheritance tax exposure depends on the estate's size and the state's rules; the Florida estate and inheritance tax calculator applies them. The EIN application guide pre-fills IRS Form SS-4 for the trust.

Most Florida trusts settle in six to twelve months; the variables are how quickly assets are retitled, the tax filings, and creditor handling. There is no court-supervised creditor period — the trustee distributes once known debts are settled, subject to Florida's general limitations period. A final accounting to the beneficiaries precedes the closing distribution unless the beneficiaries waive it in writingFla. Stat. §§ 736.0813, 736.1008, 736.10081Verified Sep 15, 2026View source.