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Florida Statutes, Title XLII

Florida/Statutes

← All Florida coverage

Title XLII, Estates and Trusts

9 chapters · 470 sections in this title.

All chapters in Title XLII470 Ch 736, Florida Trust Code162 Ch 733, Probate Code: Administration of Estates95 Ch 732, Probate Code: Intestate Succession a…93 Ch 738, Uniform Fiduciary Income and Princip…50 Ch 740, Fiduciary Access to Digital Assets19 Ch 731, Probate Code: General Provisions18 Ch 739, Florida Uniform Disclaimer of Proper…17 Ch 735, Probate Code: Small Estates10 Ch 734, Probate Code: Foreign Personal Repre…6

470 sections·Filtered byTitle XLII✕

Fla. Stat. § 736.0404 Trust purposes
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A trust may be created only to the extent the purposes of the trust are lawful, not contrary to public policy, and possible to achieve.History.—s. 4, ch. 2006-217; s. 4, ch. 2018-35.
Fla. Stat. § 736.0405 Charitable purposes; enforcement
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(1) A trust may be created for charitable purposes. Charitable purposes include, but are not limited to, the relief of poverty; the advancement of arts, sciences, education, or religion; and the promotion of health, governmental, or municipal purposes.(2) If the terms of a charit…
Fla. Stat. § 736.0406 Effect of fraud, duress, mistake, or undue influence
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If the creation, amendment, or restatement of a trust is procured by fraud, duress, mistake, or undue influence, the trust or any part so procured is void. The remainder of the trust not procured by such means is valid if the remainder is not invalid for other reasons. If the rev…
Fla. Stat. § 736.0407 Evidence of oral trust
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Except as required by s. 736.0403 or a law other than this code, a trust need not be evidenced by a trust instrument but the creation of an oral trust and its terms may be established only by clear and convincing evidence.History.—s. 4, ch. 2006-217.

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Fla. Stat. § 736.0408 Trust for care of an animal

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(1) A trust may be created to provide for the care of an animal alive during the settlor’s lifetime. The trust terminates on the death of the animal or, if the trust was created to provide for the care of more than one animal alive during the settlor’s lifetime, on the death of t…

Fla. Stat. § 736.0409 Noncharitable trust without ascertainable beneficiary

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Except as otherwise provided in s. 736.0408 or by another provision of law, the following rules apply:(1) A trust may be created for a noncharitable purpose without a definite or definitely ascertainable beneficiary or for a noncharitable but otherwise valid purpose to be selecte…

Fla. Stat. § 736.0410 Modification or termination of trust; proceedings for disapproval of nonjudicial acts

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(1) In addition to the methods of termination prescribed by ss. 736.04113-736.0414, a trust terminates to the extent the trust expires or is revoked or is properly distributed pursuant to the terms of the trust.(2) A proceeding to disapprove a proposed modification or termination…

Fla. Stat. § 736.04113 Judicial modification of irrevocable trust when modification is not inconsistent with settlor’s purpose

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(1) Upon the application of a trustee of the trust or any qualified beneficiary, a court at any time may modify the terms of a trust that is not then revocable in the manner provided in subsection (2), if:(a) The purposes of the trust have been fulfilled or have become illegal, i…

Fla. Stat. § 736.04114 Limited judicial construction of irrevocable trust with federal tax provisions

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(1) Upon the application of a trustee or any qualified beneficiary of a trust, a court at any time may construe the terms of a trust that is not then revocable to define the respective shares or determine beneficiaries, in accordance with the intention of the settlor, if a dispos…

Fla. Stat. § 736.04115 Judicial modification of irrevocable trust when modification is in best interests of beneficiaries

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(1) Without regard to the reasons for modification provided in s. 736.04113, if compliance with the terms of a trust is not in the best interests of the beneficiaries, upon the application of a trustee or any qualified beneficiary, a court may at any time modify a trust that is n…

Fla. Stat. § 736.04117 Trustee’s power to invade principal in trust

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(1) DEFINITIONS.—As used in this section, the term:(a) “Absolute power” means a power to invade principal that is not limited to specific or ascertainable purposes, such as health, education, maintenance, and support, regardless of whether the term “absolute” is used. A power to …

Fla. Stat. § 736.0412 Nonjudicial modification of irrevocable trust

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(1) After the settlor’s death, a trust may be modified at any time as provided in s. 736.04113(2) upon the unanimous agreement of the trustee and all qualified beneficiaries.(2) Modification of a trust as authorized in this section is not prohibited by a spendthrift clause or by …

Fla. Stat. § 736.0413 Cy pres

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(1) If a particular charitable purpose becomes unlawful, impracticable, impossible to achieve, or wasteful, the court may apply the doctrine of cy pres to modify or terminate the trust by directing that the trust property be applied or distributed, in whole or in part, in a manne…

Fla. Stat. § 736.0414 Modification or termination of uneconomic trust

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(1) After notice to the qualified beneficiaries, the trustee of a trust consisting of trust property having a total value less than $50,000 may terminate the trust if the trustee concludes that the value of the trust property is insufficient to justify the cost of administration.…

Fla. Stat. § 736.0415 Reformation to correct mistakes

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Upon application of a settlor or any interested person, the court may reform the terms of a trust, even if unambiguous, to conform the terms to the settlor’s intent if it is proved by clear and convincing evidence that both the accomplishment of the settlor’s intent and the terms…

Fla. Stat. § 736.0416 Modification to achieve settlor’s tax objectives

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Upon application of any interested person, to achieve the settlor’s tax objectives the court may modify the terms of a trust in a manner that is not contrary to the settlor’s probable intent. The court may provide that the modification has retroactive effect.History.—s. 4, ch. 20…

Fla. Stat. § 736.0417 Combination and division of trusts

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(1) After notice to the qualified beneficiaries, a trustee may combine two or more trusts into a single trust or divide a trust into two or more separate trusts, if the result does not impair rights of any beneficiary or adversely affect achievement of the purposes of the trusts …

Fla. Stat. § 736.0501 Rights of beneficiary’s creditor or assignee

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Except as provided in s. 736.0504, to the extent a beneficiary’s interest is not subject to a spendthrift provision, the court may authorize a creditor or assignee of the beneficiary to reach the beneficiary’s interest by attachment of present or future distributions to or for th…

Fla. Stat. § 736.0502 Spendthrift provision

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(1) A spendthrift provision is valid only if the provision restrains both voluntary and involuntary transfer of a beneficiary’s interest. This subsection does not apply to any trust the terms of which are included in an instrument executed before the effective date of this code.(…

Fla. Stat. § 736.0503 Exceptions to spendthrift provision

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(1) As used in this section, the term “child” includes any person for whom an order or judgment for child support has been entered in this or any other state.(2) To the extent provided in subsection (3), a spendthrift provision is unenforceable against:(a) A beneficiary’s child, …

Fla. Stat. § 736.0504 Discretionary trusts; effect of standard

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(1) As used in this section, the term “discretionary distribution” means a distribution that is subject to the trustee’s discretion whether or not the discretion is expressed in the form of a standard of distribution and whether or not the trustee has abused the discretion.(2) Wh…

Fla. Stat. § 736.0505 Creditors’ claims against settlor

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(1) Whether or not the terms of a trust contain a spendthrift provision, the following rules apply:(a) The property of a revocable trust is subject to the claims of the settlor’s creditors during the settlor’s lifetime to the extent the property would not otherwise be exempt by l…

Fla. Stat. § 736.05053 Trustee’s duty to pay expenses and obligations of settlor’s estate

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(1) A trustee of a trust described in s. 733.707(3) shall pay to the personal representative of a settlor’s estate any amounts that the personal representative certifies in writing to the trustee are required to pay the expenses of the administration and obligations of the settlo…

Fla. Stat. § 736.05055 Notice of trust

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(1) Upon the death of a settlor of a trust described in s. 733.707(3), the trustee must file a notice of trust with the court of the county of the settlor’s domicile and the court having jurisdiction of the settlor’s estate.(2) The notice of trust must contain the name of the set…

Fla. Stat. § 736.0506 Overdue distribution

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(1) As used in this section, the term “mandatory distribution” means a distribution of income or principal the trustee is required to make to a beneficiary under the terms of the trust, including a distribution on termination of the trust. The term does not include a distribution…

Fla. Stat. § 736.0507 Personal obligations of trustee

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Except to the extent of the trustee’s interest in the trust other than as a trustee, trust property is not subject to personal obligations of the trustee, even if the trustee becomes insolvent or bankrupt.History.—s. 5, ch. 2006-217.

Fla. Stat. § 736.0601 Capacity of settlor of revocable trust

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The capacity required to create, amend, revoke, or add property to a revocable trust, or to direct the actions of the trustee of a revocable trust, is the same as that required to make a will.History.—s. 6, ch. 2006-217.

Fla. Stat. § 736.0602 Revocation or amendment of revocable trust

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(1) Unless the terms of a trust expressly provide that the trust is irrevocable, the settlor may revoke or amend the trust. This subsection does not apply to a trust created under an instrument executed before the effective date of this code.(2) If a revocable trust is created or…

Fla. Stat. § 736.0603 Settlor’s powers; powers of withdrawal

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(1) While a trust is revocable, the duties of the trustee are owed exclusively to the settlor.(2) During the period the power may be exercised, the holder of a power of withdrawal has the rights of a settlor of a revocable trust under this section to the extent of the property su…

Fla. Stat. § 736.0604 Limitation on action contesting validity of revocable trust

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An action to contest the validity of a trust that was revocable at the settlor’s death is barred, if not commenced within the earlier of:(1) The time as provided in chapter 95; or(2) Six months after the trustee sent the person a copy of the trust instrument and a notice informin…

Fla. Stat. § 736.0701 Accepting or declining trusteeship

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(1) Except as otherwise provided in subsection (3), a person designated as trustee accepts the trusteeship:(a) By substantially complying with a method of acceptance provided in the terms of the trust; or(b) If the terms of the trust do not provide a method or the method provided…

Fla. Stat. § 736.0702 Trustee’s bond

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(1) A trustee shall give bond to secure performance of the trustee’s duties only if the court finds that a bond is needed to protect the interests of the beneficiaries or is required by the terms of the trust and the court has not dispensed with the requirement.(2) The court may …

Fla. Stat. § 736.0703 Cotrustees

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(1) Cotrustees who are unable to reach a unanimous decision may act by majority decision.(2) If a vacancy occurs in a cotrusteeship, the remaining cotrustees or a majority of the remaining cotrustees may act for the trust.(3) Subject to s. 736.1412, relating to the allocation of …

Fla. Stat. § 736.0704 Vacancy in trusteeship; appointment of successor

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(1) A vacancy in a trusteeship occurs if:(a) A person designated as trustee declines the trusteeship;(b) A person designated as trustee cannot be identified or does not exist;(c) A trustee resigns;(d) A trustee is disqualified or removed;(e) A trustee dies; or(f) A trustee is adj…

Fla. Stat. § 736.0705 Resignation of trustee

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(1) A trustee may resign in accordance with the procedure set forth in the trust instrument and upon notice to the cotrustees or, if none, to the successor trustee who has accepted the appointment, or, if none, to the person or persons who have the authority to appoint a successo…

Fla. Stat. § 736.0706 Removal of trustee

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(1) The settlor, a cotrustee, or a beneficiary may request the court to remove a trustee, or a trustee may be removed by the court on the court’s own initiative.(2) The court may remove a trustee if:(a) The trustee has committed a serious breach of trust;(b) The lack of cooperati…

Fla. Stat. § 736.0707 Delivery of property by former trustee

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(1) Unless a cotrustee remains in office or the court otherwise orders and until the trust property is delivered to a successor trustee or other person entitled to the property, a trustee who has resigned or been removed has the duties of a trustee and the powers necessary to pro…

Fla. Stat. § 736.0708 Compensation of trustee

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(1) If the terms of a trust do not specify the trustee’s compensation, a trustee is entitled to compensation that is reasonable under the circumstances.(2) If the terms of a trust specify the trustee’s compensation, the trustee is entitled to be compensated as specified, but the …

Fla. Stat. § 736.0709 Reimbursement of expenses

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(1) A trustee is entitled to be reimbursed out of the trust property, with interest as appropriate, for reasonable expenses that were properly incurred in the administration of the trust.(2) An advance by the trustee of money for the protection of the trust gives rise to a lien a…

Fla. Stat. § 736.0801 Duty to administer trust

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Upon acceptance of a trusteeship, the trustee shall administer the trust in good faith, in accordance with its terms and purposes and the interests of the beneficiaries, and in accordance with this code.History.—s. 8, ch. 2006-217.

Fla. Stat. § 736.0802 Duty of loyalty

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(1) As between a trustee and the beneficiaries, a trustee shall administer the trust solely in the interests of the beneficiaries.(2) Subject to the rights of persons dealing with or assisting the trustee as provided in s. 736.1016, a sale, encumbrance, or other transaction invol…

Fla. Stat. § 736.0803 Impartiality

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If a trust has two or more beneficiaries, the trustee shall act impartially in administering the trust property, giving due regard to the beneficiaries’ respective interests.History.—s. 8, ch. 2006-217.

Fla. Stat. § 736.0804 Prudent administration

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A trustee shall administer the trust as a prudent person would, by considering the purposes, terms, distribution requirements, and other circumstances of the trust. In satisfying this standard, the trustee shall exercise reasonable care, skill, and caution.History.—s. 8, ch. 2006…

Fla. Stat. § 736.0805 Expenses of administration

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In administering a trust, the trustee shall only incur expenses that are reasonable in relation to the trust property, the purposes of the trust, and the skills of the trustee.History.—s. 8, ch. 2006-217.

Fla. Stat. § 736.0806 Trustee’s skills

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A trustee who has special skills or expertise, or is named trustee in reliance on the trustee’s representation that the trustee has special skills or expertise, shall use those special skills or expertise.History.—s. 8, ch. 2006-217.

Fla. Stat. § 736.0807 Delegation by trustee

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(1) A trustee may delegate duties and powers that a prudent trustee of comparable skills could properly delegate under the circumstances, including investment functions pursuant to s. 518.112. The trustee shall exercise reasonable care, skill, and caution in:(a) Selecting an agen…

Fla. Stat. § 736.0809 Control and protection of trust property

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A trustee shall take reasonable steps to take control of and protect the trust property.History.—s. 8, ch. 2006-217.

Fla. Stat. § 736.0810 Recordkeeping and identification of trust property

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(1) A trustee shall keep clear, distinct, and accurate records of the administration of the trust.(2) A trustee shall keep trust property separate from the trustee’s own property.(3) Except as otherwise provided in subsection (4), a trustee shall cause the trust property to be de…

Fla. Stat. § 736.08105 Duty to ascertain marketable title of trust real property

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A trustee holding title to real property received from a settlor or estate shall not be required to obtain title insurance or proof of marketable title until a marketable title is required for a sale or conveyance of the real property.History.—s. 8, ch. 2006-217.

Fla. Stat. § 736.0811 Enforcement and defense of claims

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A trustee shall take reasonable steps to enforce claims of the trust and to defend claims against the trust.History.—s. 8, ch. 2006-217.