The Rubin on Probate Legislation blog discusses Demircan v. Mikhaylov, — So. 3d — (Fla. 3d DCA 2020).
This Third DCA case addresses several elements of Florida trust law, with a focus on the ability to modify an irrevocable trust under the Florida common law. It involved an irrevocable trust established by the settlor for the benefit of his children, which initially appointed an independent trustee and a third party with trustee removal powers. When disagreements arose between the settlor and the beneficiaries against the trustee and the third party, litigation ensued. Prior to the final hearing, the third party had appointed a new trustee to succeed the independent trustee. At the final hearing, the trial court allowed a modification of the trust noting the consent of the settlor and all beneficiaries of the trust.
To see the full article, click: Demircan v. Mikhaylov.
Posted by Elise Kim, Managing Associate Editor, Wealth Strategies Journal.