(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.
(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.
History.—s. 8, ch. 2006-217; s. 6, ch. 2009-117; s. 13, ch. 2013-172.
Structure Florida Statutes
Title XLII - Estates and Trusts
Chapter 736 - Florida Trust Code
Part VIII - Duties and Powers of Trustee (Ss. 736.0801-736.0817)
736.0801 - Duty to administer trust.
736.0804 - Prudent administration.
736.0805 - Expenses of administration.
736.0807 - Delegation by trustee.
736.0809 - Control and protection of trust property.
736.0810 - Recordkeeping and identification of trust property.
736.08105 - Duty to ascertain marketable title of trust real property.
736.0811 - Enforcement and defense of claims.
736.0812 - Collecting trust property.
736.08125 - Protection of successor trustees.
736.0813 - Duty to inform and account.
736.08135 - Trust accountings.
736.0814 - Discretionary powers; tax savings.
736.08145 - Grantor trust reimbursement.
736.08147 - Duty to distribute trust income.
736.0815 - General powers of trustee.
736.0816 - Specific powers of trustee.
736.08165 - Administration pending outcome of contest or other proceeding.