FL H0413

Redefines "interests of the beneficiaries" in trusts to mean beneficial interests intended by the settlor as provided in the trust terms, removing language requiring terms to be for the benefit of beneficiaries.

Permits electronic posting of trust documents on secure accounts or websites as a method of notice if recipient provides separate written authorization specifying document types and access procedures, with annual reminder notices required.

Authorizes trustees with absolute or limited power to invade trust principal to appoint assets to second trusts for current beneficiaries, subject to restrictions on reducing vested interests, changing beneficiaries, and qualifying for tax benefits.

Establishes a supplemental needs trust option allowing trustees to appoint principal to trusts designed not to be countable resources for government benefits eligibility for beneficiaries with disabilities.

Clarifies that a beneficiary's actual knowledge of not receiving a trust accounting does not commence limitation periods for breach of trust claims and applies retroactively to cases pending or commenced on or after July 1, 2018.