FL S0826

Amends Florida law governing cotrustees to limit liability of excluded trustees who must comply with directives from trustees with power to direct their actions.

Removes requirement that excluded trustees have actual knowledge of misconduct before being relieved of liability, establishing willful misconduct as the sole exception to liability protection.

Eliminates duties of excluded trustees to review, inquire, investigate, or make recommendations regarding the exercise of directive powers.

Makes trustees with directive power exclusively liable to beneficiaries for the exercise of that power, with sole obligation to account for and defend actions related to it.

Specifies that provisions governing duty to monitor other trustees do not apply when the person with power to direct excluded trustees is also a cotrustee; effective July 1, 2014.