Default and mandatory rules

701.0105 Default and mandatory rules. (1) Except as otherwise provided in the terms of the trust, this chapter governs the duties and powers of trustees, directing parties, and trust protectors; relations among trustees, directing parties, and trust protectors; and the rights and interests of beneficiaries. (2) The terms of a trust prevail over any provision of this chapter except for the following: (a) The requirements for creating a trust. (b) The duty of a trustee or a directing party to act in good faith and in accordance with the terms and purposes of a trust instrument and the interests of the beneficiaries. (c) The requirement that a trust and its terms be for the benefit of its beneficiaries, and that the trust have a purpose that is lawful. (d) The power of a court to modify or terminate a trust under ss. 701.0410 to 701.0416. (e) The effect of a spendthrift provision and the rights of certain creditors and assignees to reach a trust as provided in ss.