Do you know how the duties of a Co-Trustee of a Florida trust differ from a sole trustee? If you are a co trustee of a family trust, or if you are the beneficiary of an irrevocable trust and are having trouble with your co-trustees, consider watching this free, online video on co-trustees.
Family Trusts & Irrevocable Trusts More Common Than Ever
- Trusts are not for the rich and famous anymore
- Just ask any Probate Litigator Palm Beach or estate planning attorney from West Palm Beach
- Every estate lawyer is offering a revocable or living trust to clients
- These revocable trusts often become irrevocable upon the death of the creator
- So, that rich uncle who retired to Boynton Beach, Florida may not only have a Palm Beach probate, but also a Florida trust….and you may be a beneficiary.
Duties of a Co Trustee
- Consider reading the Florida trust code
- Consider reading Florida trust statutes 736.0801-736.0817
- Be mindful that you, as a co trustee, have a duty to watch and monitor your co trustee and if the Co Trustee is doing something wrong, you have a duty to act
- Do you “object” or “dissent” in writing, or do you file a trust lawsuit Palm Beach andask a Palm Beach probate court to intervene in the administration of the trust
- Remember, Florida probate courts have broad discretion and great authority tointervene in the administration of a trust
- A Palm Beach trust judge can remove a trustee, suspend a trustee or take other action regarding your family trust
- Oh yes, and remember: duties and obligations of a co trustee are FIDUCIARY duties !
One last point about co trustees in Florida trusts: read Florida Trust Code statute 736.0703 on Florida co trustees.
Consider watching this free Florida co trustee video: here’s the link: