Fla. Stat. § 736.0103 – Commentary to Florida Trust Code
Fla. Stat. § 736.0103 provides definitions for the Florida Trust Code. There are 27 separate terms defined. Because of the importance of definitions, each of those terms has been given a separate commentary article. Links to each definition commentary page are found below: 736.0103(1) Action. 736.0103(2) Affiliate. 736.0103(3) Ascertainable standard. 736.0103(4) Beneficiary. 736.0103(5) Charitable trust. […]
How “Spendthrift Provision” is Defined – Commentary to Florida Trust Code
Legal Commentary on the Definition of “Spendthrift Provision” Fla. Stat. § 736.0103(22) defines the term “spendthrift provision.” The text of the subsection reads: “Spendthrift provision” means a term of a trust that restrains both voluntary and involuntary transfer of a beneficiary’s interest. A spendthrift provision restricts the ability of a trust beneficiary to transfer that […]
How “Jurisdiction” is Defined – Commentary to Florida Trust Code
Legal Commentary on the Definition of “Jurisdiction” Fla. Stat. § 736.0103(14) defines the term “jurisdiction.” The text of the subsection reads: “Jurisdiction” with respect to a geographic area, includes a state or country. The term “jurisdiction” “includes” a state or country, but it is not limited to only a state or country. The exact scope […]
How “State” is Defined – Commentary to Florida Trust Code
Legal Commentary on the Definition of “State” Fla. Stat. § 736.0103(23) defines the term “state.” The text of the subsection reads: “State” means any state of the United States and includes the District of Columbia, the Commonwealth of Puerto Rico, and any territory or possession subject to the legislative authority of the United States. Counterintuitively, […]
How “Power of Direction” is Defined – Commentary to Florida Trust Code
Legal Commentary on the Definition of “Power of Direction” Fla. Stat. § 736.0103(16) defines the term “power of direction.” The text of the subsection reads: “Power of direction” means a power over a trust granted to a person by the terms of the trust to the extent the power is exercisable while the person is […]
How “Directed Trust” is Defined – Commentary to Florida Trust Code
Legal Commentary on the Definition of “Directed Trust” Fla. Stat. § 736.0103(6) defines the term “directed trust.” The text of the subsection reads: “Directed trust” means a trust for which the terms of the trust grant a power of direction. Thus, if the terms of the trust grant any non-trustee a power of direction, then […]
How “Directed Trustee” is Defined – Commentary to Florida Trust Code
Legal Commentary on the Definition of “Directed Trustee” Fla. Stat. § 736.0103(7) defines the term “directed trustee.” The text of the subsection reads: “Directed trustee” means a trustee that is subject to a trust director’s power of direction. Thus, a “directed trustee” is one whose power is limited by a trust director. For this to […]
How “Revocable” is Defined – Commentary to Florida Trust Code
Legal Commentary on the Definition of “Revocable” Fla. Stat. § 736.0103(20) defines the term “revocable.” The text of the subsection reads: “Revocable,” as applied to a trust, means revocable by the settlor without the consent of the trustee or a person holding an adverse interest. A revocable trust is one that may be revoked by […]
How “Affiliate” is Defined – Commentary to Florida Trust Code
Legal Commentary on the Definition of “Affiliate” Fla. Stat. § 736.0103(2) defines the term “affiliate.” The text of the subsection reads: “Affiliate” means any person or entity that directly or indirectly through one or more intermediaries owns or controls, is owned or controlled by, or is under common control or ownership with, the fiduciary. An […]
How “Environmental Law” is Defined – Commentary to Florida Trust Code
Legal Commentary on the Definition of “Environmental Law” Fla. Stat. § 736.0103(9) defines the term “environmental law.” The text of the subsection reads: “Environmental law” means a federal, state, or local law, rule, regulation, or ordinance that relates to protection of the environment or human health. The definition of “environmental law” is broad, encompassing environmental […]