Florida Statutes § 736.0807
Delegation by trustee
Watch Matt Weidner explain this section3 videos · 3 articles from Weidner LawJump to commentary ▾- (1)A trustee may delegate duties and powers that a prudent trustee of comparable skills could properly delegate under the circumstances, including investment functions pursuant to s. 518.112. The trustee shall exercise reasonable care, skill, and caution in:
- (a)Selecting an agent.
- (b)Establishing the scope and terms of the delegation, consistent with the purposes and terms of the trust.
- (c)Reviewing the agent’s actions periodically, in order to monitor the agent’s performance and compliance with the terms of the delegation.
- (a)
- (2)In performing a delegated function, an agent owes a duty to the trust to exercise reasonable care to comply with the terms of the delegation.
- (3)A trustee who complies with subsection (1) and, when investment functions are delegated, s. 518.112 is not liable to the beneficiaries or to the trust for an action of the agent to whom the function was delegated.
History
History.—s. 8, ch. 2006-217; s. 6, ch. 2009-117; s. 13, ch. 2013-172.
Commentary from Matt Weidner
Probate attorney, Weidner Law, St. Petersburg. Videos open in a player; articles open on WeidnerLaw.com.
Did Your Florida Trustee Hand Your Inheritance to a Financial Advisor and Walk Away?
§ 736.0807 governs delegation of trustee functions. Trustees who delegate investment management must exercise care in selecting the agent, define the scope, and monitor performance. Handing money to an advisor and walking away is a breach of this statute.
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