While directed trusts are not a new concept, it has become more commonplace given the benefits afford by dividing power and responsibilities among the various fiduciaries. As a result, Florida has enacted legislation prescribing the responsibilities, duties and liabilities of these fiduciaries.
Naples partner Jonathan Gopman discusses the Florida Uniform Directed Trust Act, or FUDTA, and explains why these trusts have become popular in Florida. Gopman focuses his practice on sophisticated wealth accumulation and preservation planning strategies for entrepreneurs. He assists them with their personal and business planning needs at all phases of the wealth accumulation and preservation cycle.