Fla. Stat. § 736.1416 — Florida Code / Title XLII / Chapter 736 / Part XIV / Section 736.1416
736.1416 Office of trust director.
Status: in_force

(1) Unless the terms of a trust provide otherwise, a trust director shall be considered a trustee for purposes of the following: (a) Role of the court in trust proceedings under s. 736.0201. (b) Proceedings for review of employment of agents and review of compensation of a trustee and employees of a trust under s. 736.0206. (c) Representation by the holder of power of appointment under s. 736.0302(4), relating to how trustees with discretionary power to make trust distributions do not have a power of appointment for purposes of representing persons affected by such power. (d) Prohibition on a trustee acting as a designated representative under s. 736.0306(2). (e) Validation of power to select a beneficiary from an indefinite class under s. 736.0402(3). (f) As to allowing application by the trust director for judicial modification of a trust when such modification is not inconsistent with the settlor’s purpose under s. 736.04113, for judicial construction of provisions relating to federal taxes under s. 736.04114, for judicial modification of a trust when such modification is in the best interest of the beneficiaries under s. 736.04115, or for judicial modification or termination of an uneconomic trust under s. 736.0414(2), if the trust director is so authorized by the terms of the trust. (g) Discretionary trusts and the effect of a standard under s. 736.0504, relating to special provisions regarding discretionary trusts. (h) Trust assets not being subject to creditor claims by reason of discretionary powers granted to a trustee under s. 736.0505(1)(c). (i) A trustee’s duty to pay trust obligations and expenses before paying obligations and expenses of the settlor’s estate under s. 736.05053(4). (j) Acceptance or declination of a trusteeship under s. 736.0701. (k) Requirement to give bond to secure performance under certain circumstances and court discretions relating to such bonds under s. 736.0702. (l) Filling trustee vacancies and court appointment of an additional trustee or special fiduciary under s. 736.0704. (m) Resignation of a trustee under s. 736.0705, including requirements, court authorizations, and remaining liabilities. (n) Court removal of a trustee, including who may request a removal, under s. 736.0706, but not to give the trust director the power to request removal of a trustee. (o) Reasonable compensation of a trustee or professional acting as a trustee under s. 736.0708. (p) Entitlement of a trustee to reimbursement of expenses and liens to secure advances under s. 736.0709. (q) Authority to pay costs or attorney fees without approval under s. 736.0802(10), if the trust director has a power of direction or, if the trust director has a further power to direct, the payment of such costs or attorney fees under s. 736.1406(2), relating to the explicit power of direction granted to a trust director, or s. 736.1406(3)(a), relating to the implied additional power of a director in furtherance of an express power of direction. (r) Limitations on a trustee’s discretionary powers under s. 736.0814. (s) Administration of trusts by trustees without regard to pending contests or proceedings, except as the court directs, under s. 736.08165. (t) A trustee’s obligation to invest in accordance with chapter 518 under s. 736.0901. (u) The exception to the prudent investor rule for life insurance under s. 736.0902. (v) Remedies available for a trustee breach of trust under s. 736.1001. (w) Damages against a trustee for breach of trust under s. 736.1002. (x) A trustee’s immunity from liability for loss or no profit under s. 736.1003 if there is no breach of trust. (y) Court-awarded attorney fees and costs under s. 736.1004 for breach of trust challenges. (z) Fees available to a trustee’s attorney for extraordinary service under s. 736.1007(5), court variance of compensation for a trustee’s attorney under s. 736.1007(6), and agreements between a settlor and an attorney for fees to be provided to a trustee under s. 736.1007(7). (aa) A trustee’s immunity from liability for a breach of trust under s. 736.1009 if the trustee relied on the trust instrument terms. (bb) Limitations on a trustee’s liability for acting without knowledge of relevant events under s. 736.1010. (cc) Limitations on a trustee’s exculpation of liability under the terms of a trust under s. 736.1011. (dd) The release of a trustee from liability with consent, the release or ratification of a beneficiary, and the limitations on such actions under s. 736.1012. (ee) Limitations on imposing liability on a trustee for obligations of a settlor under s. 736.1014.

(2) If a person has not accepted a trust directorship under the terms of the trust or has accepted or declined a trusteeship under s. 736.0701 or a trustee, settlor, or a qualified beneficiary of the trust is uncertain whether such acceptance has occurred, a trustee, settlor, or a qualified beneficiary of the trust may make a written demand on a person designated to serve as a trust director, with a written copy to the trustees, to accept or confirm prior acceptance of the trust directorship in writing. A written acceptance, written acknowledgment of prior acceptance, or written declination of the trust directorship shall be delivered by the designated trust director within 60 days after receipt of such demand to all trustees, qualified beneficiaries, and the settlor if living.

History: s. 27, ch. 2021-183.