A Trustee has insurmountable responsibility to administer a Trust. The removal of a Trustee for lack of capacity to administer the Trust may be set forth in the Trust instrument or requires the approval of the Probate court. If it appears to the Qualified Beneficiaries that the Trustee may be unfit due to lack of capacity to administer the Trust, the beneficiaries have a right to request that the Trustee be removed based upon the Trustee’s lack of capacity. The removal of a Trustee and the appointment of a Successor Trustee due to declination and incapacity are found in section 736.0706, Florida Statutes (2013).
As part of the duties of a Trustee, the Trustee must be cooperative with all Qualified Beneficiaries. A Qualified Beneficiary is a living beneficiary who, on the date the beneficiary’s qualification is determined is a distributee or would be a permissible distributee of trust income or principal.
The post Trust Litigation | When Is It Time to Remove a Trustee for Lack of Capacity? appeared first on Upchurch Law.