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 […]
How “Settlor” is Defined – Commentary to Florida Trust Code
Legal Commentary on the Definition of “Settlor” Fla. Stat. § 736.0103(21) defines the term “settlor.” The text of the subsection reads: “Settlor” means a person, including a testator, who creates or contributes property to a trust. If more than one person creates or contributes property to a trust, each person is a settlor of the […]
How “Ascertainable Standard” is Defined – Commentary to Florida Trust Code
Legal Commentary on the Definition of “Ascertainable Standard” Fla. Stat. § 736.0103(3) defines the term “ascertainable standard.” The text of the subsection reads: “Ascertainable standard” means a standard relating to an individual’s health, education, support, or maintenance within the meaning of s. 2041(b)(1)(A) or s. 2514(c)(1) of the Internal Revenue Code of 1986, as amended. […]
How “Charitable Trust” is Defined – Commentary to Florida Trust Code
Legal Commentary on the Definition of “Charitable Trust” Fla. Stat. § 736.0103(5) defines the term “charitable trust.” The text of the subsection reads: “Charitable trust” means a trust, or portion of a trust, created for a charitable purpose as described in s. 736.0405(1). Thus, if a trust was created for a “charitable purpose,” then it […]
How “Guardian of the Property” is Defined – Commentary to Florida Trust Code
Legal Commentary on the Definition of “Guardian of the Property” Fla. Stat. § 736.0103(12) defines the term “guardian of the property.” The text of the subsection reads: “Guardian of the property” means a person appointed by the court to administer the estate of a minor or incapacitated adult. Although chapter 744 of the Florida Statutes […]
How “Property” is Defined – Commentary to Florida Trust Code
Legal Commentary on the Definition of “Property” Fla. Stat. § 736.0103(18) defines the term “property.” The text of the subsection reads: “Property” means anything that may be the subject of ownership, real or personal, legal or equitable, or any interest therein. The Uniform Trust Code commentary notes that this definition “is intended to be as […]
How “General Power of Appointment” is Defined – Commentary to Florida Trust Code
Legal Commentary on the Definition of “General Power of Appointment” Fla. Stat. § 736.0103(10) defines the term “general power of appointment.” The text of the subsection reads: “General power of appointment” means a power of appointment exercisable in favor of the holder of the power, the power holder’s creditors, the power holder’s estate, or the […]