Florida Trust and Estates Litigation: Resignation of a Florida Trustee

Uncategorized • May 17, 2018

Are you the trustee of a West Palm Beach or Orlando trust? Do you feel you need to resign as trustee? If you are the trustee of a Florida trust, do you understand the rules of how to resign? Have you hired a Florida probate lawyer to advise you of the rules? Do you know the relevant time frames and deadlines? Do you know what you are supposed to do regarding the trust beneficiaries and trust property? Finally, from a selfish standpoint, do you know how to limit your liability if you are a Florida trustee who is resigning?

On the other side of that legal coin, what if you are a trust beneficiaries and the trustee is resigning? You don’t want the trustee to just throw up their hands and leave. Florida estate lawyers know that the trustee still has a duty to protect the property and serve you until a successor trustee is obtained. If you are a trustee or the beneficiary of a Florida trust, you should talk to an experienced West Palm Beach trust lawyer or someone who handles trust trials in Florida. You can also read Florida Statute 736.0705.

736.0705 Resignation of trustee.—

(1) A trustee may resign:

(a) Upon at least 30 days’ notice to the qualified beneficiaries, the settlor, if living, and all cotrustees; or

(b) With the approval of the court.

(2) In approving a resignation, the court may issue orders and impose conditions reasonably necessary for the protection of the trust property.

(3) Any liability of a resigning trustee or of any sureties on the trustee’s bond for acts or omissions of the trustee is not discharged or affected by the trustee’s resignation.

History.—s. 7, ch. 2006-217.