Can a Florida Trust Have an Out-of-State Trustee?

If you have a trust in Tampa, you might be wondering whether you can select an out-of-state trustee. Perhaps you’re in the process of creating a trust for the first time, or maybe you already have a trust. You might have lived in another state for many years, and perhaps you created your trust while living in another jurisdiction. Whatever the case may be, it makes sense to raise this issue with an experienced estate planning attorney in Tampa.

There Are No Rules Against Out-of-State Trustees in Florida 

You are free to choose an out-of-state trustee if you wish. Florida doesn’t prevent out-of-state trustees from overseeing trusts, regardless of their geographical distance from the Sunshine State. Many observers have noted that recent technological innovations make geographical distances less of an issue when it comes to trusts.

For example, your trustee can probably complete numerous steps through online banking, online brokerages, and other platforms. Emails, phone calls, or video calls can easily convey important messages to beneficiaries and other relevant parties.

In addition, your trustee can appoint agents to act on their behalf in Florida. This allows them to take various steps without ever traveling to Florida, even if those steps would normally require an in-person presence. While out-of-state trustees might not understand the intricacies of family relationships, sometimes it helps to keep the trustee at arm’s length from this “drama.” This objectivity ensures that the trustee remains fair and impartial.

That said, it is important that your trustee appoints the proper agents when carrying out certain tasks in Florida. Consider educating your trustee about Florida-specific laws in areas like real estate.

What About Out-of-State Trusts?

This issue often arises when Florida residents have already created trusts in other jurisdictions. If you have a trust from another jurisdiction, it remains valid in Florida. That said, it makes sense to review your trust once you settle in Florida. The Sunshine State has many unique features when it comes to probate and estate planning laws. Some of these laws might cause issues or conflicts with your existing trust, while others could present new opportunities. For example, Florida’s Homestead Exemption is one of the most attractive in the nation.

Your Personal Representative May Need to Be a Florida Resident

While you can appoint an out-of-state trustee, you might have to appoint a personal representative who is a resident of Florida. This restriction does not apply if your out-of-state personal representative is also your blood relative.

Can a Seminole Estate Planning Lawyer Help Me?

If you’re curious about the various limitations and features of a trust in Florida, consider speaking with an experienced estate planning lawyer in New Port Richey. While it might be impossible to choose a personal representative who lives outside of the state, fewer restrictions apply to your choice of trustee. Consider expanding on this topic during a consultation with Knudsen Law.

Sources: 

leg.state.fl.us/statutes/index.cfm?App_mode=Display_Statute&URL=0700-0799/0736/0736.html

floridabar.org/public/consumer/pamphlet026/