Benjamin Sunshine of Brinkley Morgan. Courtesy photo A Trustee's Investment Decisions During a Trust Contest
In the event a trust has two or more beneficiaries, the trustee has a duty to deal impartially with the beneficiaries in administering the trust "giving due regard to the beneficiaries' respective interests."
February 03, 2022 at 09:49 AM
5 minute read
Once a trustee has accepted a trusteeship, the fiduciary obligations of the trustee commence. To that end, Section 736.0801, Florida Statutes, provides that upon acceptance, "the trustee shall administer the trust in good faith, in accordance with its terms and purposes and the interests of the beneficiaries" and Section 736.0802(1), Florida Statutes, obligates a trustee to "administer the trust solely in the interest of the beneficiaries." In the event a trust has two or more beneficiaries, the trustee has a duty to deal impartially with the beneficiaries in administering the trust "giving due regard to the beneficiaries' respective interests."
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