Tax
Dean Mead’s Tax Department handles tax planning issues for businesses and individuals. The attorneys in our department have extensive experience in a full range of…
Robert Naberhaus co-authored an article that was published in the Fall edition of the electronic version of ActionLine Vol. XXXIII, No. 1 – Fall 2011. The article is entitled:
By Robert J. Naberhaus III, Esq. (Dean Mead) and Mark R. Parthemer, Esq. (Bessemer Trust) and Thomas C. Lee, Jr., Esq. (Gunster Yoakley).
This article discusses representation by a settlor designated representative, a new and unique provision of the Florida Trust Code allowing a settlor to appoint a person to receive trust information on behalf of and bind a trust beneficiary, even in the presence of a conflict of interest. The article explains the designated representative provision, including the rationale for its enactment and how it differs from the Uniform Trust Code. Included is a discussion of why a trust settlor may want to use a designated representative, limitations on the designated representative’s authority, liability implications for Trustees who make disclosures only to the designated representative, and more.
* Please note, this article is being reproduced with permission from the editorial team at ActionLine.
