Trustees of trusts have many powers, rights, duties and responsibilities in Florida. Some of those powers, rights, duties and responsibilities may be outlined in the will or trust agreement that establishes the trust, but others are only found in the Florida Trust Code, which is constantly evolving. Sometimes the Florida Trust Code overrides the will or trust agreement that establishes the trust (for example, if the will or trust agreement that establishes the trust states that the trustee has no duty to account to the beneficiaries), so the document cannot be relied upon by the trustee.
Trustees of revocable trusts only answer to the grantor(s), the person(s) who established the trust, but trustees of irrevocable trusts owe duties and responsibilities under the Florida Trust Code to all of the “qualified beneficiaries,” not just the current income beneficiaries. Failure to fulfill these duties and responsibilities can result in trustees being sued.
The Archbold Law Firm, P.A. advises trustees on what their powers, rights, duties, and responsibilities are, tailoring the representation to the needs of the trustees. It also represents trust beneficiaries to ensure that they are receiving all to which they are entitled and that the trustees of their trusts are fulfilling their duties and responsibilities under Florida law and the will or trust agreement establishing the trust.
Archbold Law Firm, P.A.