Ellen Morris discusses the issues that arise when a trustee or beneficiary of an irrevocable trust wants to change or terminate and other beneficiaries or the trustee do not agree in Daily Business Review.
In this article, Ellen provides the steps that can be taken when a nonjudicial settlement agreement under Florida Statute 736.0111 cannot be used. She discusses why an irrevocable trust can be broken or amended and looks at how the court can intervene. She further explains what the court can do for the individual once jurisdiction is properly invoked and the four types of actions that a judge may take.
“Again, this is why proper drafting of a trust is so vital. The so-called boilerplate for one document may cause problems for another, as these exceptions prove,” Ellen noted.
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