Fla. Stat. § 736.0602 – Commentary to Florida Trust Code
Legal Commentary on Fla. Stat. § 736.0602 Fla. Stat. § 736.0602 establishes when, how, and to what extent a trust settlor may revoke or amend a trust. The statute section also explains the effect of such an action. Importantly, any part of Fla. Stat. § 736.0602 may be overridden by a trust’s terms; there is […]
Fla. Stat. § 736.0303 – Commentary to Florida Trust Code
Legal Commentary on Fla. Stat. § 736.0303 Fla. Stat. § 736.0303 establishes five situations in which a trust representation may occur, but only to the extent that no relevant conflict of interest exists between the representative and the represented. First, a guardian of the property can represent and bind a guardianship estate. Notably, this power […]
Fla. Stat. § 736.0304 – Commentary to Florida Trust Code
Legal Commentary on Fla. Stat. § 736.0304 Fla. Stat. § 736.0304 provides that a person with a “substantially identical interest” may represent certain individuals, unless that individual is already represented. This is an extension of virtual representation, a res judicata doctrine which applies “only when the respective interests are closely aligned and the party . […]
Fla. Stat. § 736.0305 – Commentary to Florida Trust Code
Fla. Stat. § 736.0305 – Commentary to Florida Trust Code Jul 10 Written By Blakely Moore Legal Commentary on Fla. Stat. § 736.0305 Fla. Stat. § 736.0305 establishes that a court may appoint a representative for minors, incapacitated persons, unborn persons, unidentifiable persons, and unlocatable persons. This is the same group to which virtual representation is […]
Fla. Stat. § 736.0306 – Commentary to Florida Trust Code
Legal Commentary on Fla. Stat. § 736.0306 Fla. Stat. § 736.0306 establishes when and how a trust instrument may designate representatives for trust beneficiaries. This statute section is mandatory under Fla. Stat. § 736.0105(2)(h) and thus cannot be overridden by the terms of a trust. Generally, a trust instrument may designate a representative for a […]
Fla. Stat. § 736.0302 – Commentary to Florida Trust Code
Legal Commentary on Fla. Stat. § 736.0302 Fla. Stat. § 736.0302 establishes the rules surrounding representation and powers of appointments. The Uniform Trust Code allows such a representation only in the absence of a conflict of interest. However, the Florida Trust Code has no such restriction. The term “power of appointment” is never defined by […]
Are You Allowed to Drive a Deceased Person’s Car?
Whether you should drive a deceased person’s car depends on whether the vehicle was jointly owned, whether the vehicle has been transferred into your name, whether a probate has been opened, and other factors. Generally, you should not drive a deceased person’s car until the legal title of the vehicle has been transferred to you. […]
Fla. Stat. § 736.0301 – Commentary to Florida Trust Code
Legal Commentary on Fla. Stat. § 736.0301 Fla. Stat. § 736.0301 establishes the general principles and effect of one party representing another in a trust context. This can apply to representation by fiduciaries, parents, attorneys, holders of powers of appointment, persons who have substantially identical interests, appointed representatives, and designated representatives. Under subsection (1), when […]
Fla. Stat. § 736.0412 – Commentary to Florida Trust Code
Legal Commentary on Fla. Stat. § 736.0412 Fla. Stat. § 736.0412 establishes a means for irrevocable trust modification without court involvement and without the need for any court order. However, under Fla. Stat. § 736.0410, after such a modification, the court may be called upon by any trust beneficiary to review (and potentially disapprove of […]
Fla. Stat. § 736.0704 – Commentary to Florida Trust Code
Legal Commentary on Fla. Stat. § 736.0704 Fla. Stat. § 736.0704 establishes the means of appointing a successor trustee when a trustee vacancy occurs. The statute section also mandates the filling of any trustee vacancy, although no penalty is given for failing to do so. Any of the following results in a trustee vacancy, so […]