701.0102 Scope. This chapter applies to express, charitable or noncharitable, and testamentary or living trusts, and any trust created pursuant to a statute, judgment, or decree that requires the trust to be administered in the manner of an express trust. This chapter does not apply to any of the following: (1) A constructive or resulting trust. (2) A guardianship. (3) A conservatorship. (4) A custodial arrangement made pursuant to the Uniform Transfers to Minors Act under ss. 54.854 to 54.898 or the Uniform Custodial Trust Act under ss. 54.950 to 54.988. (5) A common trust or a collective investment fund. (6) A trust created by a depository agreement with a financial institution. (7) A trust made in connection with a business transaction, including a trust created under a bond indenture or collateral trust agreement or in connection with a structured finance transaction, a common law trust under s. 226.14, or a business trust. (8) A voting trust. (9) A fund maintained pursuant to court order in conjunction with a bankruptcy proceeding, business liquidation, or class action lawsuit. (10) A trust that is part of an employee benefit arrangement or an individual retirement account. (11) A trust established under a qualified tuition savings program or education savings account. (12) A trust account maintained on behalf of a client or customer by a licensed service professional, including a trust account maintained by an attorney or by a real estate broker.
701.1301 701.1302 701.1303 701.1304 701.1305 701.1306 701.1307 701.1309 701.1310 701.1311 701.1312 701.1313 701.1314 701.1315 701.1316 701.1317 701.1318 701.1319 701.1320 701.1321 701.1322 701.1323 701.1324 701.1325 701.1326 701.1327
2
UNIFORM TRUST DECANTING ACT Short title. Definitions. Scope. Fiduciary duty. Application; governing law. Reasonable reliance. Notice; exercise of decanting power. Court involvement. Formalities. Decanting power under expanded distributive discretion. Decanting power under limited distributive discretion. Trust for beneficiary with disability. Protection of charitable interest. Trust limitation on decanting. Change in compensation. Relief from liability and indemnification. Removal or replacement of authorized fiduciary. Tax-related limitations. Duration of 2nd trust. Need to distribute not required. Saving provision. Trust for care of animal. Terms of 2nd trust. Settlor. Later-discovered property. Obligations.
(12m) An account that is part of a qualified ABLE program under section 529A (b) of the Internal Revenue Code. (13) Any other arrangement under which a person is a nominee or escrowee for another. History: 2013 a. 92; 2023 a. 127.