What Are My Duties as Trustee in Florida?

Immediate priorities for a successor trustee in Florida include obtaining certified death certificates, locating the original trust document, securing trust assets, and notifying beneficiaries. An EIN is required since the trust becomes irrevocable after the grantor's death.

Florida requires successor trustees to notify beneficiaries within 60 days of the grantor's death. Written notice is required. This notice must include the trustee's identity and information about the beneficiary's interest.

Yes. Florida has adopted the Uniform Trust Code, which standardizes trust administration rules including trustee duties, beneficiary rights, and modification procedures.

Florida has constitutional homestead protection. A surviving spouse has a lifetime right to remain in the homestead. Minor children are also protected. Trustees must account for these rights before distributing homestead property.

In Florida, custodial accounts under the Uniform Transfers to Minors Act (UTMA) terminate when the minor reaches age 21, though the transferor can specify an age up to 25. Trustees managing inherited custodial accounts follow this timeline.