Do Co Trustees Have to Act Jointly?
Trust disputes can get ugly between beneficiaries and their trustees. But what if there are multiple trustees of your Florida trust who don’t agree? Do Co Trustees have to act jointly? Read below for the answer. If you would like to see a FREE FLORIDA TRUST VIDEO on trust lawsuits’ secrets, click that link.
Florida Trust Suits and Disputes
The Florida Revocable Trust is almost as popular as the will. A Florida Will often “pours over” into a revocable trust. The revocable trust becomes irrevocable upon the creator’s death. (To read more about what a revocable trust, is click HERE.)
Many Floridians use a revocable trust to leave inheritances, real estate and money for loved ones.
When you create a trust, you have to name a trustee. (To read how to create a Florida Trust, consider glancing at Florida Trust Code Law 736.0401).
Sometimes, the trust creator names multiple trustees.
But what if the co trustees don’t get along? Do co trustees have to act jointly? (To see an easy-to-follow Florida Trust Legal Video on trust challenges, simply click HERE.)
When Co Trustees Don’t Agree
When co trustees don’t agree, how do they run the trust?
- First, Co Trustees should get along, cooperate and work together. (To read about a trustee’s duties, check out Florida Trust Code Law 736.0801- 736.0817. )
- Read the trust document. Most trust documents will give the trustees instructions on how to act . A trust document might say that the co trustees MUST act unanimously. Or, if there are more than two, by a majority vote.
- Sometimes, one co trustee might get a “superpower” or “veto” power. Sometimes, if two co trustees can’t agree, a Trust Protector in Florida will decide.
- Second, read the Florida Trust Code. The trust code sets out all the laws about trustees and beneficiaries in Florida. Beneficiaries should read this, too. It’s the best place to start to understand all about Florida Trusts.
- Florida Trust Law 736.0703 sets forth how co trustees are to act. If there are two trustees. They have to act unanimously: together.
- If there are more than 2 co trustees, they rule by majority vote.
- What if there are only 2 co trustees and they don’t agree? If the trust document does not have a mechanism for dealing with them, they typically go to court. A probate judge will hear the trust dispute and tell the co trustees how to act.