Liability of Florida Trustees: Your Responsibilities as a Trustee

– Trustees in Florida have a fiduciary duty to beneficiaries, including obligations of loyalty, prudence, impartiality, and accountability.
– Florida law holds trustees personally liable for breach of trust, unless they can establish a valid defense.
– Misconduct by trustees, such as self-dealing and conflicts of interest, can result in personal liability for any resulting damages. – A trustee’s negligent management of trust assets, resulting in substantial losses, can lead to personal liability.
– Trustees in Florida can defend themselves against personal liability through ratification by beneficiaries, release or waiver of liability, limitations on actions against trustees, and court approval of the trustee’s conduct.
– Beneficiaries who have suffered harm due to a trustee’s misconduct can seek remedies such as removal of the trustee, surcharge or disgorgement of profits obtained through the breach, injunctions, and monetary damages.
– Florida trustees bear significant responsibilities and are expected to act with utmost care and diligence in fulfilling their fiduciary duties.

https://www.pfhglaw.com/personal-liability-of-florida-trustees/