Fla. Stat. § 736.1503 – Commentary to Florida Trust Code
Legal Commentary on Fla. Stat. § 736.1503 Fla. Stat. § 736.1503 lists the four main requirements of a community property trust. However, these are not the sole requirements of a community property trust because such a trust must also conform with Fla. Stat. § 736.0402, Fla. Stat. § 736.0403, and Fla. Stat. § 736.1502(2). To […]
Fla. Stat. § 736.0203 – Commentary to Florida Trust Code
Legal Commentary on Fla. Stat. § 736.0203 Fla. Stat. § 736.0203 gives the Florida circuit courts original jurisdiction over all matters which arise out of the Florida Trust Code. See Stokes v. Jones, 319 So.3d 166, 129 (Fla. 1st DCA 2021) (“There is no dispute that the circuit court had exclusive original subject matter jurisdiction […]
Fla. Stat. § 736.0404 – Commentary to Florida Trust Code
Legal Commentary on Fla. Stat. § 736.0404 Fla. Stat. § 736.0404 limits the allowed purposes of a trust. A trust cannot be created unless that trust is created for a purpose that is lawful, within the scope of public policy, and possible to achieve. Thus, an attempt to create a trust for the purpose of […]
Fla. Stat. § 736.0104 – Commentary to Florida Trust Code
Legal Commentary on Fla. Stat. § 736.0104 Fla. Stat. § 736.0104 specifies when a person is deemed to know a fact under the Florida Trust Code. There are three possible ways for person to be deemed to have knowledge of a fact. The first is actual knowledge, which simply means knowledge as understood in the […]
How a Trustee’s “Action” is Defined – Commentary to Florida Trust Code
Legal Commentary on the Definition of “Action” Fla. Stat. § 736.0103(1) defines the term “action” as it applies to trustees. The text of the subsection reads: “Action,” with respect to an act of a trustee, includes a failure to act. Thus, any references in the Florida Trust Code to a trustee’s actions also refer to […]
Fla. Stat. § 736.08125 – Commentary to Florida Trust Code
Legal Commentary on Fla. Stat. § 736.08125 Fla. Stat. § 736.08125 protects successor trustees from being liable for the actions of former trustees. See Freeman v. Berrin, 352 So.3d 452, 460 n.6 (Fla. 2d DCA 2022) (“Section 736.08125 provides that successor trustees are not personally liable for actions taken by prior trustees and do not […]
Fla. Stat. § 736.1302 – Commentary to Florida Trust Code
Legal Commentary on Fla. Stat. § 736.1302 Fla. Stat. § 736.1302 is a severability clause for the Florida Trust Code. The statute section establishes that if any individual part or section of the Florida Trust Code is held by a court to be unenforceable or unconstitutional, the rest of the Code will still be valid […]
Fla. Stat. § 736.0705 – Commentary to Florida Trust Code
Legal Commentary on Fla. Stat. § 736.0705 Fla. Stat. § 736.0705 establishes the process by which a trustee may resign. At common law, a trustee was generally not permitted to unilaterally resign without court approval unless the terms of the trust provided otherwise. See Stearns v. Fraleigh, 23 So. 18 (Fla. 1897) (“The general rule, […]
Fla. Stat. § 736.0601 – Commentary to Florida Trust Code
Legal Commentary on Fla. Stat. § 736.0601 Fla. Stat. § 736.0601 establishes the capacity level required for someone to act as a trust settlor in any manner. To act, a settlor must have the same level of capacity required to make a will. The level of capacity required to make a will is found in […]
Fla. Stat. § 736.0101 – Commentary to Florida Trust Code
Legal Commentary on Fla. Stat. § 736.0101 Fla. Stat. § 736.0101 serves as an introduction to the Florida Trust Code and provides the trust code with its name. More importantly, the statute section informs us that references to “this Code” in Chapter 736 of the Florida Statutes are references to the Florida Trust Code. This […]