![]() Break or breach one of those, and that can be the start of a breach of fiduciary duty claim. The trustee owes a number of duties to trust beneficiaries. The Florida Trust Code in Chapter 736 of the Florida Statutes tells us all about a trustee’s job. Just like a Florida Personal Representative. To read about the duties and powers of a Florida Personal Representative, CLICK HERE. In some states, a Personal Representative is called an “executor.” Personal Representatives owe estate beneficiaries the duties of a Florida Trustee. Personal Representatives are those who run, or administer, a Florida estate or probate. The Florida Probate Code tells us all about how Personal Representatives are supposed to act. And subject to damages and attorneys fees. If a fiduciary’s conduct falls below the appropriate standard, that’s a breach. But civil theft is not necessary for a fiduciary to be surcharged or found to have breached her fiduciary duty. If a personal representative or trustee acts badly or steals money or takes secret fees, they can be SURCHARGED. There are certain “ rules of the game.” Standards. Even though the Power of Attorney Law uses the word “agent”, a POA is a fiduciary. A Power of Attorney, also called an attorney-in-fact, is also a fiduciary. Fiduciaries, most of the time, are entitled to reasonable compensation. ![]() Even if you are nominated or named in a will or trust. I say “volunteer” because no one can be forced to serve others or be a fiduciary. Fiduciaries are those who volunteer to perform certain tasks for others. Trustees and personal representatives are fiduciaries. First, a trustee owes DUTIES to her beneficiaries. Florida Breach of Fiduciary Duty What is a Fiduciary?īefore we define Florida Breach of Fiduciary Duty, let’s make sure you have the background. And from a standpoint that other Florida Legal Blogs may not take. Now, let’s lay it all out there in plain English. We have also written about this topic of FIDUCIARY DUTY before. We have previously written about excessive compensation and removing or suspending a trustee. And a whole lot of trouble to a bad trustee or personal representative or POA. It can bring damages to beneficiaries or an estate or a trust. To read an APPELLATE DECISION about this topic, for free, CLICK HERE.A Florida breach of fiduciary duty is serious stuff. What Do Florida Appeals Courts Sayįlorida appellate courts interpret the law and the decisions of probate judges. A bad trustee can also be ordered to pay a fine, also known as a surcharge. ![]() ![]() Calculating damages in a breach case is an important part of your litigation strategy. A trustee who breaches can be ordered to return money to the trust like trustee compensation. But a breach of trust in Florida is a breach of fiduciary duty. And that fiduciary breaches, or breaks, her duties. A breach of fiduciary duty is when a person owes another a fiduciary duty. Fiduciary duties include such things as being loyal, prudent, acting in good faith and with impartiality. They both owe their beneficiaries serious duties. Fiduciaries can include trustees and personal representatives. Bad Florida Trustees BreachĪ breach of trust in Florida is a breach of fiduciary duty by a fiduciary. What is breach of trust in Florida? Bad trustees can be required to return money to the trust. Breaches are serious business for trustees and beneficiaries. What is breach of trust in Florida? We have previously written about breach of trust.
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