The Powers of a Trustee are vast and can often take up pages in a trust. In addition, depending on the year in which the trust was created there may be additional powers / duties that the trustee has which were created by statute. Below are a few of the common powers found in most trusts.

Power to Distribute.  A trustee is given the power to distribute to beneficiaries. The beneficiary can not compel the trustee to make payments for his or her benefit if the trust agreement provides that the discretion of the trustee is uncontrolled in making distributions.

Power to Buy or Sell.  A Trustee can buy or sell items in the administration of their trust whether in a public or private sale. A trustee may also manage the property or assets, through development or improvements to real estate or personal property. They may partition or break the asset into smaller pieces and abandon / disregard property when its in the best interest of a beneficiary.

Power to Borrow.  A trustee can encumber, pledge, or mortgage, an asset for any term even if longer than the term of the trust. The trustee can also borrow any money to be repaid from trust assets. Borrowing and lending in a Florida trust must be to a prudent investor standard.

Power to Hire Professionals including Attorneys or Other Agents.  A trustee has the power to employ an attorney, financial advisors, or any other agent. However, the trustee should not make a broad delegation of his powers to another.

Other Powers under the Uniform Trustees' Powers Act.  A trustee has the power and a duty to defend and uphold the trust. Because Florida confers additional powers under the Uniform Trustee's Powers Act settler may limit or exclude some of the powers that are traditional or statutorily given to a trustee.

If you would like more information how the Powers of a Trustee, CONTACT our Florida Trust Lawyers by email or call us at 904-685-1200 to discuss your situation today.