Fla. Stat. § 736.0811 – Commentary to Florida Trust Code
Legal Commentary on Fla. Stat. § 736.0811 Fla. Stat. § 736.0811 establishes that a trustee has a duty to “take reasonable steps” to (1) enforce the claims of a trust and (2) defend claims against the trust. The words “take reasonable steps” indicate that there are situations in which a trustee may potentially find the […]
How “Beneficiary” is Defined – Commentary to Florida Trust Code
Legal Commentary on the Definition of “Beneficiary” Fla. Stat. § 736.0103(4) defines the term “beneficiary.” The text of the subsection reads: “Beneficiary” means a person who has a present or future beneficial interest in a trust, vested or contingent, or who holds a power of appointment over trust property in a capacity other than that […]
Fla. Stat. § 736.151- Commentary to Florida Trust Code
Legal Commentary on Fla. Stat. § 736.151 Fla. Stat. § 736.151 makes clear that real property in a community property trust may qualify as the homestead of the settlor spouses for all purposes, including for purposes of creditor protection, devise restriction, and for the homestead tax exemption. Community Property Trusts and Homestead Creditor Protection Homestead […]
Fla. Stat. § 736.1401 – Commentary to Florida Trust Code
Legal Commentary on Fla. Stat. § 736.1401 Fla. Stat. § 736.1401 gives the Florida Uniform Directed Trust Act its name. Text of Fla. Stat. § 736.1401 Short title.—This part may be cited as the “Florida Uniform Directed Trust Act.” History of Fla. Stat. § 736.1401 Fla. Stat. § 736.1401 became law on July 1, 2021 […]
Fla. Stat. § 736.1506 – Commentary to Florida Trust Code
Legal Commentary on Fla. Stat. § 736.1506 Fla. Stat. § 736.1506 explains the rights and limitations of a creditor who might want to access the assets in a community property trust. Unless a community property trust provides otherwise in its terms, a creditor seeking to satisfy a debt owed by one spouse alone will be […]
Fla. Stat. § 736.1509 – Commentary to Florida Trust Code
Legal Commentary on Fla. Stat. § 736.1506 Fla. Stat. § 736.1509 makes clear that a community property trust does not shield assets from child support. This is similar to the highly criticized Second District Court of Appeal holding in Berlinger v. Casselberry, in which a discretionary trust did not shield a trust settlor from spousal […]
PTM Legal Commentary to Florida Trust Code
I have (foolishly) made it my goal to provide legal commentary for the entire Florida Trust Code. So far as I am aware, no such commentary has been made available to the public free of charge. I aim to remedy that. As I add commentary to section of the code, I will link to that […]
How “Guardian of the Person” is Defined – Commentary to Florida Trust Code
Legal Commentary on the Definition of “Guardian of the Person” Fla. Stat. § 736.0103(11) defines the term “guardian of the person.” The text of the subsection reads: “Guardian of the person” means a person appointed by the court to make decisions regarding the support, care, education, health, and welfare of a minor or an incapacitated […]
Fla. Stat. § 736.1501 – Commentary to Florida Trust Code
Legal Commentary on Fla. Stat. § 736.1501 Fla. Stat. § 736.1501 gives the Community Property Trust Act its name. Text of Fla. Stat. § 736.1501 Short title.—This part may be cited as the “Community Property Trust Act.” History of Fla. Stat. § 736.1501 Fla. Stat. § 736.1501 became law on July 1, 2021 as part […]
Fla. Stat. § 736.1502 – Commentary to Florida Trust Code
Legal Commentary on Fla. Stat. § 736.1502 Fla. Stat. § 736.1502 provides a list of definitions which apply to the entirety of the Community Property Trust Act. The definition of “community property” establishes a key feature of the community property trust: property owned by a community property trust is deemed to be community property in […]