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Estate Planning

: Florida Estate Planning Lawyer Blog

Removal of a Florida Trustee

By David M. Goldman

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Florida Revocable Trust are managed by a Trustee who is the person(s), or in some cases entity, that hold legal title to property for the benefit of an equitable title holder.

Often the grantor of the Florida Revocable Trustselects the trustee who is responsible for making sure the beneficiaries are taken care of according to the grantor?s wishes. A single beneficiary or group of beneficiaries can become dissatisfied with the performance of the trustee when unfortunate circumstances occur. This may lead to a difficult court proceeding where the removal of a trustee is sought.

Under the current Florida statute a beneficiary, co-trustee, or the grantor of the trust may request the court to remove a trustee. When a removal request is made, it is up to the court to decide if there are sufficient circumstances that justify the trustee?s removal.

The Florida Trust statute expressly states that the court may remove a trustee if:

1) The trustee commits a serious breach of trust,
2) There is a lack of cooperation among multiple trustees,
3) The trustee is unfit, unwilling, or persistently fails to administer the trust effectively, or
4) There has been a substantial change of circumstances or all beneficiaries agree to the removal, the removal of the trustee best serves the interests of all of the beneficiaries, is not inconsistent with a material purpose of the trust, and a suitable co-trustee or successor trustee is available.

If you are the beneficiary, co-trustee, or grantor of a Florida Revocable Trust and believe any of the circumstances mentioned here apply to your trustee, contact a Florida Revocable Trust attorney or Jacksonville Trust Attorney who can discuss whether it would be beneficial to seek the removal and appointment of a new trustee.

Full post as published by Florida Estate Planning Lawyer Blog on June 19, 2010 (boomark / email).