Family trust company proceedings; public records exemption.

(1) In proceedings under chapter 736 or chapter 738 in which a family trust company, licensed family trust company, or foreign licensed family trust company is a party, upon written notice from any party to the clerk that this section is applicable, the clerk shall keep all court records of that case separate from other records of the court and not open to inspection by the public. Upon receipt of such written notice, court records of that case are confidential and exempt from s. 119.07 and s. 24(a), Art. I of the State Constitution and must be protected. For the purposes of this section, the term “court records” means the docket and all filings and other records of a case.

(2) Notwithstanding subsection (1), court records may be inspected upon order of the court by persons deemed by the court to have a specific interest in the trust, a transaction relating to the trust, or an asset held or previously held by the trust and where the court determines there is a compelling need for releasing the information requested. In granting a right to any person to inspect court records, the court may limit access to such information as the court deems necessary and may place any reasonable restriction on further distribution of such information by such person.

(3) Notwithstanding subsection (1), the clerk shall make court records available to the following individuals:

(a) The settlor.

(b) Any fiduciary for the trust, including a trustee or trust director.

(c) Any beneficiary of the trust.

(d) An attorney for the settlor, a fiduciary, or a beneficiary of the trust.