Ellen Morris, partner of Cozen O'Connor. Courtesy photo I Hate This Irrevocable Trust. Can I Change or Terminate It or Ask a Court to Change or Terminate It?
Your client is the trustee or the beneficiary of a irrevocable trust and wants to change or terminate it. What if the other beneficiaries or the trustee don't agree to the change or termination? Well, then you can't use a nonjudicial settlement agreement under Florida Statute 736.0111, so what can be done now?
August 04, 2022 at 11:40 AM
6 minute read
Your client is the trustee or the beneficiary of a irrevocable trust and wants to change or terminate it. What if the other beneficiaries or the trustee don't agree to the change or termination? Well, then you can't use a nonjudicial settlement agreement under Florida Statute 736.0111, so what can be done now?
Potentially a lot, under Florida Statute 736.0201, which gives the court general authority to intervene in the administration of a trust if jurisdiction is properly invoked and these statutes, 736.04113, 736.04114, 736.04115, 736.0413, 736.0415, 736.0417, allow judicial modification of an irrevocable trust for various reasons.
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