Annual Trust Accounting (Florida)

ANNUAL TRUST ACCOUNTING

Pursuant to Florida Statutes §§ 736.0813(1)(d) and 736.08135

I. STATEMENT IDENTIFYING THE TRUST, TRUSTEE, AND ACCOUNTING PERIOD

(Required by Fla. Stat. § 736.08135(2)(a))

II. SCHEDULE A — RECEIPTS

(Required by Fla. Stat. § 736.08135(2)(b))

All cash and property receipts during the accounting period, allocated between income and principal where applicable.

III. SCHEDULE B — DISBURSEMENTS

(Required by Fla. Stat. § 736.08135(2)(b))

All cash and property disbursements during the accounting period, including significant administrative transactions, allocated between income and principal.

IV. SCHEDULE C — DISTRIBUTIONS TO BENEFICIARIES

(Required disclosure under § 736.08135(2)(b)–(e))

V. SCHEDULE D — GAINS AND LOSSES ON SALE OR DISPOSITION

(Required by Fla. Stat. § 736.08135(2)(b))

Realized gains and losses on the sale or other disposition of trust property during the accounting period.

VI. SCHEDULE E — TRUST ASSETS ON HAND AT END OF PERIOD (CARRYING VALUE AND CURRENT FAIR MARKET VALUE)

(Required by Fla. Stat. § 736.08135(2)(c) — for each asset or class reasonably capable of valuation, the accounting MUST contain TWO values: (i) acquisition/carrying value AND (ii) estimated current value.)

VII. SCHEDULE F — LIABILITIES (KNOWN, NON-CONTINGENT)

(Required by Fla. Stat. § 736.08135(2)(c))

VIII. SCHEDULE G — INCOME / PRINCIPAL ALLOCATIONS, ACCRUALS, ALLOWANCES

(Required by Fla. Stat. § 736.08135(2)(e))

Material allocations of receipts, disbursements, accruals, or allowances between income and principal affecting any beneficiary's interest.

IX. SCHEDULE H — TRUSTEE COMPENSATION AND COMPENSATION OF TRUSTEE'S AGENTS

(Required by Fla. Stat. § 736.08135(2)(b) — compensation paid to the trustee AND to the trustee's agents MUST be shown.)

X. SCHEDULE I — SIGNIFICANT NON-ACCOUNTABLE TRANSACTIONS

(Required by Fla. Stat. § 736.08135(2)(d) — name changes in investment holdings, adjustments to carrying value, changes of custodian, stock splits, etc.)

XI. SCHEDULE J — RECONCILIATION SUMMARY

XII. PLAN OF DISTRIBUTION (FINAL ACCOUNTING ONLY)

(Required by Fla. Stat. § 736.08135(2)(f) for final accountings.)

XIII. SIX-MONTH LIMITATION NOTICE — VERBATIM SAFE-HARBOR FORM

(Fla. Stat. § 736.1008(4)(a) — IMPORTANT; READ CAREFULLY.)

"An action for breach of trust based on matters disclosed in a trust accounting or other written report of the trustee or a trust director may be subject to a 6-month statute of limitations from the receipt of the trust accounting or other written report. If you have questions, please consult your attorney."

The foregoing is a "limitation notice" within Fla. Stat. § 736.1008(4)(a). For matters adequately disclosed in this accounting, § 736.1008(2) may bar a breach-of-trust proceeding not commenced within six months after receipt of the trust disclosure document or an applicable limitation notice, whichever is later. Section 736.1008(5) controls whether and when a limitation notice applies to another disclosure document. Undisclosed matters remain governed by the accrual rules in § 736.1008(1) and (3) and the applicable limitations period in Chapter 95.

XIV. BENEFICIARY'S RIGHT TO OBJECT; REQUEST FOR ADDITIONAL INFORMATION

Because § 736.1008(2) is a deadline for commencing a proceeding, an informal question or objection may not preserve a claim. A qualified beneficiary may:

☐ Request additional information about any item disclosed herein, in writing directed to the trustee.
☐ File a written objection to one or more items disclosed herein.
☐ Commence a proceeding under Fla. Stat. § 736.0201 for breach of trust based on matters disclosed.
☐ Consider a consent, release, or ratification only after reviewing Fla. Stat. § 736.1012 and obtaining independent advice.

A beneficiary may, under Fla. Stat. § 736.0813(2), waive the duty to account in writing and may withdraw the waiver in writing as to future accounting periods.

XV. TRUSTEE'S VERIFICATION

I, the undersigned Trustee, declare under penalty of perjury under the laws of the State of Florida that I have read the foregoing Annual Trust Accounting, that the matters stated herein are true and correct to the best of my knowledge, information, and belief, that this accounting was prepared in good faith and substantially complies with Fla. Stat. § 736.08135, and that this accounting and the accompanying limitation notice are being delivered to each qualified beneficiary in accordance with Fla. Stat. § 736.0813(1)(d).

STATE OF FLORIDA
COUNTY OF [________________________________]

Sworn to (or affirmed) and subscribed before me by means of ☐ physical presence or ☐ online notarization, this [____] day of [____________], 20[____], by [TRUSTEE NAME], who is personally known to me or who produced [________________________________] as identification.

_______________________________
Notary Public, State of Florida
Print Name: [________________________________]
Commission No.: [________________________________]
My Commission Expires: [__/__/____]

XVI. CERTIFICATE OF SERVICE

I HEREBY CERTIFY that on the [____] day of [____________], 20[____], a true and correct copy of the foregoing Annual Trust Accounting (with the § 736.1008(4)(a) limitation notice incorporated above) was served upon each qualified beneficiary identified below in the manner indicated:

_______________________________
Signature of Trustee / Counsel
Printed Name: [________________________________]
Florida Bar No. (if attorney): [____________]
Date: [__/__/____]

SOURCES AND REFERENCES

• Fla. Stat. § 736.0813 — Trustee's duty to inform and account
• Fla. Stat. § 736.0813(2) — Waiver of accountings (written; withdrawable as to future periods).
• Fla. Stat. § 736.08135 — Required form and content
• Fla. Stat. § 736.1012 — Beneficiary's consent, release, or ratification
• Fla. Stat. § 736.1008 — Limitations on proceedings against trustees
• Fla. Stat. § 736.0201 — Role of court in trust proceedings
• Fla. Stat. § 736.1008(2) — 6-month bar on adequately disclosed matters.
• Fla. Stat. § 736.1008(3) — Residual accrual rules for undisclosed matters (potentially extending exposure).
• Fla. Stat. § 736.1008(4)(a) — Definition of limitation notice and verbatim safe-harbor form.
• Fla. Stat. § 736.1008(4)(b) — Definition of "trust accounting" (substantial compliance with § 736.08135).
• Fla. Stat. § 736.1008(4)(c) — Definition of "trust disclosure document"; adequate-disclosure standard.

END OF ANNUAL TRUST ACCOUNTING