Florida Breach of Trust– what is it
If you are a trustee or beneficiary of a Florida Trust, you have probably heard the words “breach of trust.” But what really is a Florida Breach of Trust? Well, we are going to answer that question in plain-English. We have previously provided FREE LEGAL TRUST COMMENTARY about breach of fiduciary duty, SUSPENDING A FLORIDA TRUSTEE and also REMOVING a Florida Trustee. Let’s explore this trust concept for Florida beneficiaries and trustees.
Florida Trust Law
The Florida Trust Code is a set of statutes. Chapter 736 will tell you “all” you need to know ’bout trusts in Fla. You can read it for free. Trustees may want to know about DEFENDING a breach lawsuit. The truth is that a breach of trust is a breach of fiduciary duty. To read a case which DEFINES what a breach of fiduciary duty is, CLICK HERE. This case also reveals that a breach of fiduciary duty action is different from a claim to an accounting. Trustees owe their beneficiaries lots of DUTIES. When a trustee falls short or “breaks” those duties, that’s a breach. When a trustee falls below the standard of care of a reasonable trustee, she can be liable to the trust for DAMAGES. Trust beneficiaries can click HERE to learn what remedies they have against their trustee. Here is a LIST of all the duties your trustee owes you.
Trust Caselaw
Appellate opinions are referred to as “caselaw.” Appellate courts review trial court orders. In Florida, most trials involving a trust is done in the “probate” division. That’s why so many probate court judges rule on trust matters. If you want a jury trial, you need to ask for one. In that case, you may be in the Civil Division. A breach of trust is a breach of fiduciary duty. Even federal court judges agree. You can read the Figel v. Wells Fargo case. The WestLaw cite is: WL 777879. That was a March 1, 2011 decision from the United States District Court for the Southern District of Florida. A lot of trust cases are being filed in Federal Court. If you want to do that, you need to find an experienced TRUST TRIAL ATTORNEY who litigates in federal court. Remember: federal court is a LOT different than state court. Anyway. A breach of fiduciary duty is when a trustee owes a duty to her beneficiaries. And the trustee breaches her fiduciary duty. As a result of that breach by the Florida Trustee, there is damage. Typically to the trust or a beneficiary. That, my friends, is a breach of trust under Florida Trust law. To read about how a trustee should be acting, consider reading Pankauski’s Trustee’s Guide.