Bill > H0895

This bill creates a new process for trustees to settle their accounts and be discharged from their duties, allowing them to be released from liability for actions taken during their tenure. A trustee can initiate this process six months after accepting their role if the trust has ended or if they are resigning or have been removed. To do so, the trustee must send a "trust disclosure document" to the trust's beneficiaries and other relevant parties, which includes their contact information, a plan for distributing assets, details about debts and expenses, and a statement that the trust has terminated or the trustee is leaving. Crucially, this document must include a notice warning recipients that any claims against the trustee related to the disclosed matters may be barred if a written objection is not received within 60 days. If no timely objection is filed, the trustee is discharged from all liability for matters adequately disclosed in the document once distributions are complete, similar to a court-approved settlement. This process is in addition to existing methods for trustees to settle their accounts and applies to trusts that are irrevocable on or after the bill's effective date.

Business and Industry, Justice

https://www.flsenate.gov/Session/Bill/2026/895