Florida Banking October 2023

trustees will be better equipped to navigate this complicated relationship.

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Avoid jurisdiction — As a trustee, you have an obligation to act in your client’s best interest. In some cases this may mean consenting to the court’s jurisdiction to make efficient decisions with the guardian. In other cases it may mean protecting assets from a misguided guardian. Do not consent to the court’s jurisdiction without the advice of counsel. If the grantor is deemed incapacitated and a guardian is appointed, stay alert. Review the annual guardianship report — Each guardian must file an annual report, including an accounting if guardian of the property. This report must be served on the ward and his attorney, but may be provided to others upon petition of the court. Red flags — Did the guardian become a beneficiary of the ward’s estate? Did the guardian purchase something on behalf of the ward from a business owned by a friend or family member? Does the guardian have interest in any business transaction with the ward? If so, the guardian may be breaching its fiduciary duty in violation of Florida statute, and any activity deemed prohibited is voidable. A breaching guardian, like a breaching trustee, can also be held individually liable. The trustee-guardianship relationship can get messy. By hiring competent counsel and seeking their advice before, during and after guardianship proceedings,

Kelly O’Keefe is an attorney in Stearns Weaver Miller’s Tallahassee office. She represents professional and family member fiduciaries in complex and high stakes estate, probate and trust disputes and litigation. O’Keefe is the president of the Tallahassee Regional Estate Planning Council, a subcommittee Chair for the Florida Probate Rules Committee, and is on the Board of Directors for the Community Foundation of North Florida and the Tallahassee Chamber of Commerce. She is regularly recognized by The Best Lawyers in America, Florida Trend and Super Lawyers magazine and is AV Preeminent Rated by Martindale-Hubbell. You can reach her at kokeefe@ stearnsweaver.com. Hannah Murphy is an attorney at Stearns Weaver Miller’s Tallahassee office. She works in the Litigation Group practicing in the areas of trusts and estates, consumer protection, elections, and labor and employment. Prior to joining the firm, Murphy clerked for the Honorable Mark Walker, in the Northern District of Florida, served as Editor in Chief of the Florida State University Law Review, and held various roles on a variety of national and statewide political campaigns. You can reach her at hmurphy@ stearnsweaver.com.

FBEF WELCOME RECEPTION Tuesday, January 23 | 5:30 – 7:00 PM Table 23 Plan to join us the night before FBA’s Capitol Day for this fun networking reception that raises funds for the Florida Bankers Educational Foundation (FBEF). *You must register separately for the FBEF Welcome Reception.

Meet up with old friends and make new ones while raising money for a good cause. All proceeds from this event benefit the FBEF’s programs for Florida bankers seeking to advance their careers through education. We hope to see you there!

22 — FLORIDA BANKING THE VOICE OF FLORIDA BANKING