Asked in Estate Planning for Florida

Q: Do trustee fees to be paid (to the co-trustee of a trust) have to be contained within trust accountings?

The co-trustee for my father's estate decided at the last minute to deduct $100,000 from the final distribution to the beneficaries, for her trustee fee. Is this allowed? Are there any cases that you can refer me to?

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1 Lawyer Answer
Seril L Grossfeld
Seril L Grossfeld
Answered
  • Estate Planning Lawyer
  • Fort Lauderdale, FL

A: Yes trustee's fees have to be contained within a final accounting, and there should not be distribution until all beneficiaries have seen the accounting and approved the accounting. Beneficiaries can also object to the accounting, particularly such a last minute large fee. Trusts in Florida are governed by F.S. 736. Responsibilities of the trustee relating to informing beneficiaries and accountings are contained within F.S. 736.0813 and 736.08135. Needless to say there is much case law regarding trustee duties, the responsibilities to beneficiaries and accountings, which would be much too numerous for this forum. I would suggest that you contact an attorney in your area knowledgeable in the areas of estates and trusts to discuss your concerns in this matter.

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