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1998 Florida Statutes
Personal liability of trustee.
737.306 Personal liability of trustee.--
(1)(a) Unless otherwise provided in the contract, a trustee is not personally liable on contracts, except contracts for attorneys' fees, properly entered into in the trustee's fiduciary capacity in the course of administration of the trust estate unless he or she fails to reveal his or her representative capacity and identify the trust estate in the contract.
(b) A trustee is personally liable for obligations arising from ownership or control of property of the trust estate or for torts committed in the course of administration of the trust estate only if the trustee is personally at fault.
(c) Claims based on contracts, except contracts for attorneys' fees, entered into by a trustee in his or her fiduciary capacity, on obligations arising from ownership or control of the trust estate, or on torts committed in the course of trust administration may be asserted against the trust estate by proceeding against the trustee in his or her fiduciary capacity, whether or not the trustee is personally liable.
(2) Issues of liability between the trust estate and the trustee individually may be determined in a proceeding for accounting, surcharge, or indemnification, or in any other appropriate proceeding.
(3) A trustee succeeding a trustee who was also the grantor of the trust is not personally liable for any action taken or omitted to be taken by such prior trustee; nor does such successor trustee have a duty to institute any action against such prior trustee, or file any claim against such prior trustee's estate, for any of the prior trustee's acts or omissions as trustee. This subsection applies only with respect to a trust that is revocable during the time that the grantor serves as trustee.
(4)(a) Two years after the death of a settlor, neither a trust described in s. 733.707(3) as established by the settlor, the trustee of the trust, nor any beneficiary may be held liable for any claim or cause of action against the settlor by a creditor who seeks to recover from the trust, trustee, or beneficiary.
(b) This subsection does not apply to a creditor who has timely filed a claim against the settlor's estate under s. 733.702 within 2 years after the settlor's death and whose claim has not been paid or otherwise disposed of, even if the settlor's estate proceedings have been closed or otherwise completed.
(c) This subsection does not affect the lien of a duly recorded mortgage or security interest or the right to foreclose and enforce the mortgage or lien.
History.--s. 1, ch. 74-106; s. 7, ch. 75-221; s. 8, ch. 77-344; s. 2, ch. 86-248; s. 8, ch. 95-401; s. 1040, ch. 97-102.