Florida Statutes § 736.0704
Vacancy in trusteeship; appointment of successor
- (1)A vacancy in a trusteeship occurs if:
- (a)A person designated as trustee declines the trusteeship;
- (b)A person designated as trustee cannot be identified or does not exist;
- (c)A trustee resigns;
- (d)A trustee is disqualified or removed;
- (e)A trustee dies; or
- (f)A trustee is adjudicated to be incapacitated.
- (a)
- (2)If one or more cotrustees remain in office, a vacancy in a trusteeship need not be filled. A vacancy in a trusteeship must be filled if the trust has no remaining trustee.
- (3)A vacancy in a trusteeship of a noncharitable trust that is required to be filled must be filled in the following order of priority:
- (a)By a person named or designated pursuant to the terms of the trust to act as successor trustee.
- (b)By a person appointed by unanimous agreement of the qualified beneficiaries.
- (c)By a person appointed by the court.
- (a)
- (4)A vacancy in a trusteeship of a charitable trust that is required to be filled must be filled in the following order of priority:
- (a)By a person named or designated pursuant to the terms of the trust to act as successor trustee.
- (b)By a person selected by unanimous agreement of the charitable organizations expressly designated to receive distributions under the terms of the trust.
- (c)By a person appointed by the court.
- (a)
- (5)The court may appoint an additional trustee or special fiduciary whenever the court considers the appointment necessary for the administration of the trust, whether or not a vacancy in a trusteeship exists or is required to be filled.
History
History.—s. 7, ch. 2006-217.