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Robin Lloyd & Associates, P.A.Robin Lloyd & Associates, P.A.
Robin Lloyd & Associates, P.A.Robin Lloyd & Associates, P.A.
  • Our Firm
  • Areas of Practice
    • Estate Planning
    • Probate & Trust Administration
    • Private Client Services
    • Corporate & Business Administration
    • Real Estate Services
  • Attorneys & Paralegals
    • Robin A. Lloyd, Sr., J.D.
    • Emily Helmick, Esq.
    • Brenda Lloyd, CP, FRP
    • Tiffany Coleman
  • News
  • Community
  • Contact

Trustee Selection

Trustee Selection

October 26, 2021 Posted by RLA Estate Planning Law, Tips, Trust Administration

Under Florida law, you can select anyone to be the Trustee of your Trust, unless that person is disqualified under the Statutes. But you shouldn’t select just anyone. You need to be sure the person, or in the case of a corporate trustee, entity, actually wants the job. Trustees are bound by many duties and obligations under the Florida Statutes, including the duty of loyalty, duty to administer the trust, fiduciary duties, and the duty of impartiality. Many corporate trustees have specific requirements prior to accepting trusteeship. Serving as Trustee can be time-consuming.  Trustees are also entitled to compensation. If you select a family member or friend, you need to be sure that individual understands the requirements and is willing to accept the position. Speak with your attorney for more information about important considerations when selecting your Trustee.

-Emily A. Helmick, Esq.

Tags: Attorneysbeneficiariesestate planningrevocable trustTuesday TipsVero BeachWealth Management
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Robin Lloyd & Associates, P.A. is an established firm handling the legal needs of Vero Beach since July of 1990. Robin A. Lloyd, Sr., a Vietnam War veteran, founded the Firm after practicing as a Partner in the Vero Beach office of a 55-laywer firm headquartered in West Palm Beach since 1974. The Firm represents many Clients, including high wealth individuals, and focuses on several different areas of law including, but not limited to: Estate Planning, Probate, Guardianship, Trust Administration, Real Estate, all areas of Taxation, and Business Law.

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