If you have set up, or are thinking about, a revocable living trust in Miami, the trustee is the person or institution that will actually run it. While you are alive and well, that is usually you. The real decision is who takes over when you cannot, your successor trustee. Picking the right one is what makes a trust work the way you intended.
What a trustee does under Florida law
Florida trusts are governed by Chapter 736 of the Florida Statutes, the Florida Trust Code. A trustee holds legal title to trust assets and manages them for your beneficiaries. The role carries real legal duties: a duty of loyalty (acting in beneficiaries’ interest, not their own), a duty of prudent administration, a duty to keep records and account to beneficiaries, and a duty of impartiality among beneficiaries. A trustee who breaches these duties can be held personally liable, so this is not a ceremonial title.
Trustee vs. personal representative: not the same job
People in Miami often confuse the two. A personal representative settles your probate estate and finishes in months. A trustee may manage assets for years, even decades, especially if your trust holds money for young children or makes staggered distributions. Because the trustee role lasts longer and involves ongoing investment and judgment, the qualities you want are somewhat different.
Traits to look for
- Long-term reliability. This person may serve for a long time. Stability matters more than charisma.
- Financial judgment. They will manage and possibly invest assets. They don’t need to be a professional, but they should be prudent and willing to consult advisors.
- Fairness. If you have multiple beneficiaries, the trustee must treat them impartially. Naming one child to control money for siblings can breed conflict.
- Honesty and recordkeeping. Florida requires accountings. A disorganized trustee creates legal exposure.
Individual, professional, or both?
Many Miami families name a trusted relative. Others choose a professional or corporate trustee, such as a bank trust department or a licensed trust company, especially for large or complex estates, or when no family member is a good fit. Professionals charge fees but bring neutrality, continuity, and experience. A popular middle path is co-trustees, pairing a family member who knows your values with a professional who handles administration. You can also give a trusted person the power to remove and replace a corporate trustee.
Florida residency and practical points
Unlike a personal representative, Florida does not impose the same strict out-of-state restrictions on individual trustees, so a trusted relative living outside Florida can generally serve. Still, a local trustee in the Miami area can be more practical for handling property, meeting advisors, and responding quickly. Florida also has no state estate or inheritance tax, which simplifies a trustee’s tax picture compared with some other states, though federal rules still apply.
Always name a successor
Name at least one backup trustee, and confirm your choices are willing to serve. A trust with no available trustee can stall and may require court involvement, the very outcome a trust is meant to avoid.
This article is general information, not legal advice. Trustee duties and trust drafting under Florida’s Trust Code are detailed, and the right structure depends on your situation. Talk with a licensed Florida estate planning attorney before naming or changing a trustee.
For more on our Florida practice, see our overview of estate planning in Boca Raton. Morgan Legal Group's affiliated New York office also handles how a will is contested in New York.