A FLORIDA TRUSTEES OBLIGATIONS TO TRUST BENEFICIARIES

♠ Posted by Marc J. Soss in elder law,estate plan,Family Trust,florida estate planning,florida probate attorney,florida probate lawyer,Last Will and Testament,Revocable Trust,Sarasota attorney,Sarasota Tax Attorney at Friday, May 01, 2015

In the case of Bain v. McIntosh (U.S. Ct. App., 11^th Cir., No. 14-13836, March 2, 2015) the U.S. Court of Appeals held that a Florida attorney, hired to represent a trustee does not owe a fiduciary duty to the trust beneficiaries. The beneficiaries of the Florida Trust sued the attorney for breach of fiduciary duty. The attorney argued he did not owe a duty to the beneficiaries because he was hired to represent the Florida Trustee. The trial court granted summary judgment to the attorney and the beneficiaries appealed.

The U.S. Court of Appeals for the Eleventh Circuit affirmed, holding that an attorney retained to represent a trustee does not owe a fiduciary duty to the trust beneficiaries. According to the court, Florida regulations and case law have not expanded a lawyer's fiduciaries duties to anyone other than the trustee.