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 […]
Fla. Stat. § 736.04115 – Commentary to Florida Trust Code
Legal Commentary on Fla. Stat. § 736.04115 Fla. Stat. § 736.04115 establishes a means for judicial modification of an irrevocable trust based on the “best interests of the beneficiaries.” Such a modification can be made without meeting any of the requirements of Fla. Stat. § 736.04113. The modification can be made by the court after […]
Fla. Stat. § 736.0707 – Commentary to Florida Trust Code
Legal Commentary on Fla. Stat. § 736.0707 Fla. Stat. § 736.0707 explains the authority and duty of a former trustee who still holds trust assets in said former trustee’s possession. Generally, a former trustee must deliver all trust property to a co-trustee, new trustee, or (if appropriate) trust beneficiary within a reasonable period of time. […]
Fla. Stat. § 736.0709 – Commentary to Florida Trust Code
Legal Commentary on Fla. Stat. § 736.0709 Fla. Stat. § 736.0709 establishes that a trustee has a right to be reimbursed for trust expenses paid by the trustee. To be reimbursed for an expense, the expense must be both reasonable and properly incurred. These requirements echo Fla. Stat. § 736.0805, which requires that a trustee […]
Fla. Stat. § 736.04113 – Commentary to Florida Trust Code
Legal Commentary on Fla. Stat. § 736.04113 Fla. Stat. § 736.04113 provides a means for a court to modify an irrevocable trust. Either a trustee or qualified beneficiary can petition the court for such a modification. Notably, a settlor cannot petition the court under this statue, as held by the Second District Court of Appeal […]