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Florida Court Holds That Trustee Must Provide Notice To Beneficiaries Before Invading Principal

By Gerry W. Beyer

GavelA Florida appeals court has recently held that the Florida Trust Code requires a Trustee to provide notice to qualified beneficiaries before raiding the principal.  The decision in Harrell and Dake v. Badger can be read here.  The case involves a Trustee who sold a house (with his wife serving as realtor) without providing notice to the remainder beneficiaries.  Section 736.04117(4) of the Florida Trust Code has the notice requirement; this statute can be read here.  The court reversed a decision by a lower court to award attorney’s fees to the Trustee holding that decision to be an abuse of discretion.

See Brian Spiro, Trustee Must Provide Notice to All Qualified Beneficiaries Before Invading Principal, Clark Scatoff PA, June 16, 2015.

Special thanks to Jeffrey Skatoff (Attorney at Law, Clark Skatoff PA) for bringing this article to my attention.    

Posted in:
Current Affairs, Estate Planning - Generally and Trusts