October, 2014

Compensation for the Trustee of a Florida Trust

October 30th, 2014

Posted in Asset Protection,Estate & Personal Planning

Section 736.0708 of the Florida Statutes governs the compensation available to Florida trustees.  Most trust documents provide reasonable compensation to the named trustee.  However, if the trust document is silent on the matter, Chapter 736 provides that the trustee is entitled to reasonable compensation under the circumstances.[1]  Accordingly, a Florida court may award reasonable compensation when the trust documents neglect the issue.
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Community Associations’ Board of Directors Owe a Fiduciary Duty to Members

October 9th, 2014

Posted in Condominium & Homeowner Association Law

Both the Condominium Act and Chapter 720 of the Florida Statutes governing Homeowners Associations impose a fiduciary duty on directors and officers of community associations to the members.[1]  One of the most important questions community association board members or officers can ask is whether a proposed decision or action would be congruous with their fiduciary obligation to the members.
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