Trustees can settle accounts and be discharged if no objections are received within 60 days.

The bill creates Section 736.10081 in Florida Statutes, allowing a trustee to settle accounts and be discharged if they are in substantial compliance with the duty to inform and account. Trustees must send a trust disclosure document to qualified beneficiaries and cotrustees, including a notice that claims against the trustee may be barred if not objected to within 60 days. Trustees are discharged from liability if no objections are received. The bill applies to irrevocable trusts created on or after the act's effective date.

Trustees can settle accounts and be discharged if no objections are received within 60 days.

The bill creates Section 736.10081 in Florida Statutes, allowing a trustee to settle accounts and be discharged if they are in substantial compliance with the duty to inform and account. Trustees must send a trust disclosure document to qualified beneficiaries and cotrustees, including a notice that claims against the trustee may be barred if not objected to within 60 days. Trustees are discharged from liability if no objections are received. The bill applies to irrevocable trusts created on or after the act's effective date.