When selecting a Trustee or Successor Trustee, it is important to understand what the role of that individual or corporation will be. A Trustee serves as the administrator of the trust. Trustees have obligations under the Florida Trust Code. Trustees have a duty to act impartially in administering trust property, without favoring themselves or any beneficiary over another. Trustees are required to make trust property productive, as a prudent person would. Trustees are also required to keep beneficiaries reasonably informed and provide trust accountings. Failure to adhere to the Trust Code can result in legal liability for the Trustee. Depending how your Trust is set up, your Trustee may step in at your incapacity. Speak with your attorney for a full explanation of the role of a Trustee.
-Emily A. Helmick, Esq.