Trust Administration & Modification
Generally, people can control assets funded into their revocable trust as if they owned such assets in their individual name. For irrevocable trusts, Florida law and the terms of a trust place certain duties and responsibilities on the trustees. Most importantly, the trustee has a fiduciary duty to the beneficiaries of the trust. The Estate Planning Firm represents trustees to make sure that they uphold their fiduciary duties competently and responsibly. Our firm also works with trustees and beneficiaries to modify the terms of trusts that have become unworkable to the parties involved. Florida law provides certain mechanisms to modify trusts even if the trust’s terms provide that is irrevocable. We welcome questions about all trust related legal issues.