Florida Statutes 736.0807 – Delegation by trustee
Current as of: 2023 | Check for updates
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(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.
Terms Used In Florida Statutes 736.0807
- Trustee: A person or institution holding and administering property in trust.
(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.
(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.