Florida Statutes 736.1411 – No duty to monitor, inform, or advise
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(1) Notwithstanding s. 736.1409(1), relating to the duty of a directed trustee to take reasonable action when directed and to the release of liability for such action, unless the terms of a trust provide otherwise:
(a) A trustee does not have a duty to:
1. Monitor a trust director; or
2. Inform or give advice to a settlor, beneficiary, trustee, or trust director concerning an instance in which the trustee might have acted differently from the trust director.
Terms Used In Florida Statutes 736.1411
- Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
- Fiduciary: A trustee, executor, or administrator.
- Trustee: A person or institution holding and administering property in trust.
(b) By taking an action described in paragraph (a), a trustee does not assume the duty excluded by paragraph (a).
(2) Notwithstanding s. 736.1408(1), relating to the fiduciary duty of a trust director, unless the terms of a trust provide otherwise:
(a) A trust director does not have a duty to:
1. Monitor a trustee or another trust director; or
2. Inform or give advice to a settlor, beneficiary, trustee, or another trust director concerning an instance in which the trust director might have acted differently from a trustee or another trust director.
(b) By taking an action described in paragraph (a), a trust director does not assume the duty excluded by paragraph (a).