eLaws of Florida

 

  CHAPTER 736. FLORIDA TRUST CODE  


PART I. GENERAL PROVISIONS AND DEFINITIONS
SECTION 736.0101. Short title.
SECTION 736.0102. Scope.
SECTION 736.0103. Definitions.
SECTION 736.0104. Knowledge.
SECTION 736.0105. Default and mandatory rules.
SECTION 736.0106. Common law of trusts; principles of equity.
SECTION 736.0107. Governing law.
SECTION 736.0108. Principal place of administration.
SECTION 736.0109. Methods and waiver of notice.
SECTION 736.0110. Others treated as qualified beneficiaries.
SECTION 736.0111. Nonjudicial settlement agreements.
SECTION 736.0112. Qualification of foreign trustee.
PART II. JUDICIAL PROCEEDINGS
SECTION 736.0201. Role of court in trust proceedings.
SECTION 736.0202. Jurisdiction over trustee and beneficiary.
SECTION 736.02025. Service of process.
SECTION 736.0203. Subject matter jurisdiction.
SECTION 736.0204. Venue.
SECTION 736.0206. Proceedings for review of employment of agents and review of compensation of trustee and employees of trust.
SECTION 736.0207. Trust contests.
PART III. REPRESENTATION
SECTION 736.0301. Representation; basic effect.
SECTION 736.0302. Representation by holder of power of appointment.
SECTION 736.0303. Representation by fiduciaries and parents.
SECTION 736.0304. Representation by person having substantially identical interest.
SECTION 736.0305. Appointment of representative.
SECTION 736.0306. Designated representative.
PART IV. CREATION, VALIDITY, MODIFICATION, AND TERMINATION
SECTION 736.0401. Methods of creating trust.
SECTION 736.0402. Requirements for creation.
SECTION 736.0403. Trusts created in other jurisdictions; formalities required for revocable trusts.
SECTION 736.0404. Trust purposes.
SECTION 736.0405. Charitable purposes; enforcement.
SECTION 736.0406. Effect of fraud, duress, mistake, or undue influence.
SECTION 736.0407. Evidence of oral trust.
SECTION 736.0408. Trust for care of an animal.
SECTION 736.0409. Noncharitable trust without ascertainable beneficiary.
SECTION 736.0410. Modification or termination of trust; proceedings for disapproval of nonjudicial acts.
SECTION 736.04113. Judicial modification of irrevocable trust when modification is not inconsistent with settlor’s purpose.
SECTION 736.04114. Limited judicial construction of irrevocable trust with federal tax provisions.
SECTION 736.04115. Judicial modification of irrevocable trust when modification is in best interests of beneficiaries.
SECTION 736.04117. Trustee’s power to invade principal in trust.
SECTION 736.0412. Nonjudicial modification of irrevocable trust.
SECTION 736.0413. Cy pres.
SECTION 736.0414. Modification or termination of uneconomic trust.
SECTION 736.0415. Reformation to correct mistakes.
SECTION 736.0416. Modification to achieve settlor’s tax objectives.
SECTION 736.0417. Combination and division of trusts.
PART V. CREDITORS' CLAIMS; SPENDTHRIFT AND DISCRETIONARY TRUSTS
SECTION 736.0501. Rights of beneficiary’s creditor or assignee.
SECTION 736.0502. Spendthrift provision.
SECTION 736.0503. Exceptions to spendthrift provision.
SECTION 736.0504. Discretionary trusts; effect of standard.
SECTION 736.0505. Creditors’ claims against settlor.
SECTION 736.05053. Trustee’s duty to pay expenses and obligations of settlor’s estate.
SECTION 736.05055. Notice of trust.
SECTION 736.0506. Overdue distribution.
SECTION 736.0507. Personal obligations of trustee.
PART VI. REVOCABLE TRUSTS
SECTION 736.0601. Capacity of settlor of revocable trust.
SECTION 736.0602. Revocation or amendment of revocable trust.
SECTION 736.0603. Settlor’s powers; powers of withdrawal.
SECTION 736.0604. Limitation on action contesting validity of revocable trust.
PART VII. OFFICE OF TRUSTEE
SECTION 736.0701. Accepting or declining trusteeship.
SECTION 736.0702. Trustee’s bond.
SECTION 736.0703. Cotrustees.
SECTION 736.0704. Vacancy in trusteeship; appointment of successor.
SECTION 736.0705. Resignation of trustee.
SECTION 736.0706. Removal of trustee.
SECTION 736.0707. Delivery of property by former trustee.
SECTION 736.0708. Compensation of trustee.
SECTION 736.0709. Reimbursement of expenses.
PART VIII. DUTIES AND POWERS OF TRUSTEE
SECTION 736.0801. Duty to administer trust.
SECTION 736.0802. Duty of loyalty.
SECTION 736.0803. Impartiality.
SECTION 736.0804. Prudent administration.
SECTION 736.0805. Expenses of administration.
SECTION 736.0806. Trustee’s skills.
SECTION 736.0807. Delegation by trustee.
SECTION 736.0808. Powers to direct.
SECTION 736.0809. Control and protection of trust property.
SECTION 736.0810. Recordkeeping and identification of trust property.
SECTION 736.08105. Duty to ascertain marketable title of trust real property.
SECTION 736.0811. Enforcement and defense of claims.
SECTION 736.0812. Collecting trust property.
SECTION 736.08125. Protection of successor trustees.
SECTION 736.0813. Duty to inform and account.
SECTION 736.08135. Trust accountings.
SECTION 736.0814. Discretionary powers; tax savings.
SECTION 736.08145. Grantor trust reimbursement.
SECTION 736.08147. Duty to distribute trust income.
SECTION 736.0815. General powers of trustee.
SECTION 736.0816. Specific powers of trustee.
SECTION 736.08163. Powers of trustees relating to environmental or human health laws or to trust property contaminated with hazardous or toxic substances; liability.
SECTION 736.08165. Administration pending outcome of contest or other proceeding.
SECTION 736.0817. Distribution on termination.
PART IX. TRUST INVESTMENTS
SECTION 736.0901. Applicability of chapter 518.
SECTION 736.0902. Nonapplication of prudent investor rule.
PART X. LIABILITY OF TRUSTEE AND RIGHTS OF PERSONS DEALING WITH TRUSTEE
SECTION 736.1001. Remedies for breach of trust.
SECTION 736.1002. Damages for breach of trust.
SECTION 736.1003. Damages in absence of breach.
SECTION 736.1004. Attorney’s fees and costs.
SECTION 736.1005. Attorney fees for services to the trust.
SECTION 736.1006. Costs in trust proceedings.
SECTION 736.1007. Trustee’s attorney fees.
SECTION 736.1008. Limitations on proceedings against trustees.
SECTION 736.1009. Reliance on trust instrument.
SECTION 736.1010. Event affecting administration or distribution.
SECTION 736.1011. Exculpation of trustee.
SECTION 736.1012. Beneficiary’s consent, release, or ratification.
SECTION 736.1013. Limitation on personal liability of trustee.
SECTION 736.1014. Limitations on actions against certain trusts.
SECTION 736.1015. Interest as general partner.
SECTION 736.1016. Protection of person dealing with trustee.
SECTION 736.1017. Certification of trust.
SECTION 736.1018. Improper distribution or payment; liability of distributee.
PART XI. RULES OF CONSTRUCTION
SECTION 736.1101. Rules of construction; general provisions.
SECTION 736.1102. Construction of terms.
SECTION 736.1103. Gifts to multigeneration classes to be per stirpes.
SECTION 736.1104. Killer not entitled to receive property or other benefits by reason of victim’s death.
SECTION 736.1105. Dissolution of marriage; effect on revocable trust.
SECTION 736.1106. Antilapse; survivorship with respect to future interests under terms of inter vivos and testamentary trusts; substitute takers.
SECTION 736.1107. Change in securities; accessions; nonademption.
SECTION 736.1108. Penalty clause for contest.
PART XII. CHARITABLE TRUSTS
SECTION 736.1201. Definitions.
SECTION 736.1202. Application of this part.
SECTION 736.1203. Trustee of a private foundation trust or a split interest trust.
SECTION 736.1204. Powers and duties of trustee of a private foundation trust or a split interest trust.
SECTION 736.1205. Notice that this part does not apply.
SECTION 736.1206. Power to amend trust instrument.
SECTION 736.1207. Power of court to permit deviation.
SECTION 736.1208. Release; property and persons affected; manner of effecting.
SECTION 736.1209. Election to come under this part.
SECTION 736.1210. Interpretation.
SECTION 736.1211. Protections afforded to certain charitable trusts and organizations.
PART XIII. MISCELLANEOUS
SECTION 736.1301. Electronic records and signatures.
SECTION 736.1302. Severability clause.
SECTION 736.1303. Application to existing relationships.