Florida Estate Planning Lawyer Blog
In order for a person to attempt to reform a trust, that person must “have standing.” This designation refers to a person who has an interest in the trust. This person can be a trustee, beneficiary, or a trustee and beneficiary. A settlor, the creator of the trust, gets to pick who will be designated in the other positions. While the settlor is still alive, he or she generally serves as trustee for that trust, and names a successor trustee to step in when he or she dies or becomes incapacitated.
The “interested parties” all have the power individually to petition a court to reform the trust. There are multiple reasons for trying to reform a trust, but which ever reason the interested party chooses as a basis for the reformation, the result must comply with both the current law and the original settlor’s intent.
The settlor’s intent is usually the trickiest to prove in court. If you have found yourself in a position where you believe a trust that you are involved in needs to be reformed, you should contact either a Florida Trust attorney to correctly set up your trust, or a Florida Trust Contests attorney who specializes in the aspects of litigation.