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Petition to Require Accounting from Testamentary Trustee

Broward Florida Petition to Require Accounting from Testamentary Trustee

Name: Broward Florida Petition to Require Accounting from Testamentary Trustee
Brand: US Legal Forms
Rating: 4.58 (296 reviews)

Category:

Trusts - Accounting

State:

Multi-State

County:

Broward

Control #:

US-01253BG

Format:

Instant download

Description

An accounting by a fiduciary usually involves an inventory of assets, debts, income, expenditures, and other items, which is submitted to a court. Such an accounting is used in various contexts, such as administration of a trust, estate, guardianship or conservatorship. Generally, a prior demand by an appropriate party for an accounting, and a refusal by the fiduciary to account, are conditions precedent to the bringing of an action for an accounting.

How to fill out Broward Florida Petition To Require Accounting From Testamentary Trustee?

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FAQ

Once you get approval and receive the Letters of Administration, you become authorized to administer the estate. Your duties will generally involve valuing the estate of the deceased, settling their debts and expenses, paying off their taxes, and dispensing the estate according to intestacy rules.

If beneficiaries suspect a trustee of theft or mismanagement, they can request that the trustee provide a detailed list of all dealings with the estate. Called an accounting proceeding, this acts as an audit for a trust or estate administrator's actions and can ultimately lead to legal action against the trustee.

A petition, asking the court to approve the accounting (if filed), approve the distribution of the estate assets, plus any additional matters that require court approval (such as allowing fees to the representative or the attorney).

(1) A petition for summary administration may be filed by any beneficiary or person nominated as personal representative in the decedent's will offered for probate.

But an executor does have to show an accounting if the beneficiaries request it. Typically, the executor will start with an informal accounting which is not filed with the court. If the beneficiaries are not satisfied by that, then the executor would have to file a formal judicial accounting with the court.

The Petition for Administration is meant to set forth the basic information regarding the decedent, including his or her residence, date of death and basic family structure (if no will) or intestacy structure if there is a will. This document starts a probate proceeding.

Before any interested person can file a court petition to compel an accounting, they must make a 60 day written demand to the trustee. If the 60 day demand is not met, then they can file a petition to compel accounting with the court.

The two primary reasons to compel an account are: 1) to check the status of trust assets; and 2) to determine if the trustee is acting within his or her discretion or has breached a duty.

Like a formal administration, a Florida summary administration starts with filing a petition in court. The petition for summary administration may be filed by any beneficiary or by a person nominated as a personal representative by the decedent's will, but must be signed and verified by the surviving spouse (if any).

An estate accounting is a document that provides specific details about what property was in the estate at the time of the decedent's death, what additional property came into the estate since the decedent's death, how the estate funds were spent, what property remains in the estate at the time that the accounting is

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Trust litigation types. The Probate Code gives people interested in trusts the right to file lawsuits known as "petitions" in the probate court.For help with probate and trust administration in the Miami-Dade, Broward, and Palm Beach counties call The Law Office of Verna Popo, P.A.. Share This Page:. Formal administration is appropriate whether or not a decedent dies with a will. Trustees must provide qualified beneficiaries with a complete copy of the trust instrument upon reasonable request;. Have you ever represented a client in a probate dispute? This helps you avoid probate court because when you pass away, the asset will no longer be under name, but in the name of the revocable trust. In the summary administration, you need all of the beneficiaries to consent to the petition (under most circumstances). To petition the court in Pennsylvania, which exercised its jurisdiction. (c)Closing Estate; Extension.

Broward Florida Petition to Require Accounting from Testamentary Trustee

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How to fill out Broward Florida Petition To Require Accounting From Testamentary Trustee?

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What happens after letter of administration?

What is an accounting proceeding?

What is an accounting petition?

Who can file a petition for administration in Florida?

Does an executor have to show accounting to beneficiaries in Florida?

What is a petition for administration in Florida?

How do you compel an accounting from a reluctant trustee?

What is a petition to compel accounting?

Who can petition for summary administration in Florida?

What does an accounting of an estate look like?

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What is the Broward Petition to Require Accounting from Testamentary Trustee?

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What happens if the trustee fails or refuses to provide accounting?

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