When a successor trustee takes over after a settlor’s death, Florida law requires the trustee to administer the trust in good faith, under its terms, and solely in the beneficiaries’ interests (§ 736.0801, § 736.0802). In practice the first duties are:
- Notify: file a notice of trust with the court (§ 736.05055), and within 60 days tell the qualified beneficiaries that the trust exists, who the trustee is, and their right to a copy of the trust and to accountings (§ 736.0813).
- Protect and manage the assets prudently (§ 736.0804).
- Account to the qualified beneficiaries at least annually (§ 736.0813, § 736.08135).
- Pay valid expenses, taxes, and estate debts the probate estate cannot cover (§ 736.05053), then distribute as the trust directs.
The core fiduciary duties
| Duty | What it means | Source |
|---|---|---|
| Good faith and the trust’s terms | Follow the document and its purposes | § 736.0801 |
| Loyalty | Act solely for the beneficiaries; self-dealing is voidable unless authorized | § 736.0802 |
| Impartiality | Treat beneficiaries fairly given their different interests | § 736.0803 |
| Prudence | Use reasonable care, skill, and caution | § 736.0804 |
| Inform and account | Notices, copies of the trust on request, annual accountings | § 736.0813 |
A trustee may hire professionals, such as attorneys, accountants, and investment managers, but must choose and monitor them carefully (§ 736.0807). The statute lists the trustee’s powers, including selling property and managing investments (§ 736.0816).
Notices within the first weeks
- Notice of trust filed with the court in the county of the settlor’s domicile, naming the settlor, date of death, trust, and trustee (§ 736.05055). This lets the personal representative and creditors know a trust exists.
- Notice to qualified beneficiaries within 60 days after the trustee accepts the trusteeship, and within 60 days after learning the trust became irrevocable (§ 736.0813).
- Copies on request. A qualified beneficiary may ask for a complete copy of the trust instrument and relevant information about the assets.
Accountings
A trust accounting must be reasonably understandable, show all receipts, disbursements, gains, and losses, including the trustee’s compensation, and list assets with carrying and current values (§ 736.08135). Accountings must be given at least annually and when the trust ends or the trustee changes (§ 736.0813). Giving a proper accounting with a limitation notice starts a short period (six months for adequately disclosed matters) for beneficiaries to bring claims (§ 736.1008).
Debts and the estate
A revocable trust is liable for estate expenses and debts the probate estate cannot pay (§ 733.707(3)), and the trustee must pay amounts the personal representative certifies (§ 736.05053). Distributing everything early can leave the trustee exposed.
Protection for successor trustees
A successor trustee who follows a settlor who served as trustee of their own revocable trust is generally not personally liable for, and need not pursue claims over, that settlor-trustee’s actions (§ 736.08125).
An example
After her father dies, a daughter becomes successor trustee of his revocable trust. Within two weeks she files a notice of trust in his county, and within 60 days she sends her two brothers a written notice of the trust, her contact information, and their right to a copy and to accountings. She obtains a tax ID, moves the brokerage account into the trust’s name as trustee, keeps the house insured, and pays his final bills. After confirming there are no unpaid estate debts, she distributes under the trust terms and gives a final accounting with a plan of distribution.
Common mistakes
- Treating trust assets as your own because you are also a beneficiary
- Missing the 60-day notices
- Not filing the notice of trust
- Distributing before debts and taxes are known
- Never providing an accounting
What to gather
- The trust and every amendment
- The death certificate
- A list of trust assets and current statements
- Names and addresses of the qualified beneficiaries
- Any probate case information
Next step
Calendar the 60-day notice deadline and file the notice of trust now. Then open trust accounts and keep a ledger from the first day.
Related guidance
- What is a Florida notice of trust?
- Are trust beneficiaries entitled to an accounting?
- Can creditors reach a trust after death?
- Trust administration
Sources: Florida Statutes § 733.707, § 736.05053, § 736.05055, § 736.0801, § 736.0802, § 736.0803, § 736.0804, § 736.0807, § 736.08125, § 736.0813, § 736.08135, § 736.0816, and § 736.1008 (2026). Checked on October 23, 2026.