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 section below. This commentary is a work in progress, so please be patient as I expand it over time.

Part I: GENERAL PROVISIONS AND DEFINITIONS (ss. 736.0101-736.0112)

• 736.0101 Short title.

• 736.0102 Scope.

• 736.0103 Definitions.

  • 736.0103(1) Action.

  • 736.0103(2) Affiliate.

  • 736.0103(3) Ascertainable standard.

  • 736.0103(4) Beneficiary.

  • 736.0103(5) Charitable trust.

  • 736.0103(6) Directed trust.

  • 736.0103(7) Directed trustee.

  • 736.0103(8) Distributee.

  • 736.0103(9) Environmental law.

  • 736.0103(10) General power of appointment.

  • 736.0103(11) Guardian of the person.

  • 736.0103(12) Guardian of the property.

  • 736.0103(13) Interests of the beneficiaries.

  • 736.0103(14) Jurisdiction.

  • 736.0103(15) Permissible distributee.

  • 736.0103(16) Power of direction.

  • 736.0103(17) Power of withdrawal.

  • 736.0103(18) Property.

  • 736.0103(19) Qualified beneficiary.

  • 736.0103(20) Revocable.

  • 736.0103(21) Settlor.

  • 736.0103(22) Spendthrift provision.

  • 736.0103(23) State.

  • 736.0103(24) Terms of a trust.

  • 736.0103(25) Trust Director.

  • 736.0103(26) Trust instrument.

  • 736.0103(27) Trustee.

• 736.0104 Knowledge.

• 736.0105 Default and mandatory rules.

• 736.0106 Common law of trusts; principles of equity.

• 736.0107 Governing law.

• 736.0108 Principal place of administration.

• 736.0109 Methods and waiver of notice.

• 736.0110 Others treated as qualified beneficiaries.

• 736.0111 Nonjudicial settlement agreements.

• 736.0112 Qualification of foreign trustee.

Part II: JUDICIAL PROCEEDINGS (ss. 736.0201-736.0207)

• 736.0201 Role of court in trust proceedings.

• 736.0202 Jurisdiction over trustee and beneficiary.

• 736.02025 Service of process.

• 736.0203 Subject matter jurisdiction.

• 736.0204 Venue.

• 736.0206 Proceedings for review of employment of agents and review of compensation of trustee and employees of trust.

• 736.0207 Trust contests.

Part III: REPRESENTATION (ss. 736.0301-736.0306)

• 736.0301 Representation; basic effect.

• 736.0302 Representation by holder of power of appointment.

• 736.0303 Representation by fiduciaries and parents.

• 736.0304 Representation by person having substantially identical interest.

• 736.0305 Appointment of representative.

• 736.0306 Designated representative.

Part IV: CREATION, VALIDITY, MODIFICATION, AND TERMINATION (ss. 736.0401-736.0417)

• 736.0401 Methods of creating trust.

• 736.0402 Requirements for creation.

• 736.0403 Trusts created in other jurisdictions; formalities required for revocable trusts.

• 736.0404 Trust purposes.

• 736.0405 Charitable purposes; enforcement.

• 736.0406 Effect of fraud, duress, mistake, or undue influence.

• 736.0407 Evidence of oral trust.

• 736.0408 Trust for care of an animal.

• 736.0409 Noncharitable trust without ascertainable beneficiary.

• 736.0410 Modification or termination of trust; proceedings for disapproval of nonjudicial acts.

• 736.04113 Judicial modification of irrevocable trust when modification is not inconsistent with settlor’s purpose.

• 736.04114 Limited judicial construction of irrevocable trust with federal tax provisions.

• 736.04115 Judicial modification of irrevocable trust when modification is in best interests of beneficiaries.

• 736.04117 Trustee’s power to invade principal in trust.

• 736.0412 Nonjudicial modification of irrevocable trust.

• 736.0413 Cy pres.

• 736.0414 Modification or termination of uneconomic trust.

• 736.0415 Reformation to correct mistakes.

• 736.0416 Modification to achieve settlor’s tax objectives.

• 736.0417 Combination and division of trusts.

Part V: CREDITORS’ CLAIMS; SPENDTHRIFT AND DISCRETIONARY TRUSTS (ss. 736.0501-736.0507)

• 736.0501 Rights of beneficiary’s creditor or assignee.

• 736.0502 Spendthrift provision.

• 736.0503 Exceptions to spendthrift provision.

• 736.0504 Discretionary trusts; effect of standard.

• 736.0505 Creditors’ claims against settlor.

• 736.05053 Trustee’s duty to pay expenses and obligations of settlor’s estate.

• 736.05055 Notice of trust.

• 736.0506 Overdue distribution.

• 736.0507 Personal obligations of trustee.

Part VI: REVOCABLE TRUSTS (ss. 736.0601-736.0604)

• 736.0601 Capacity of settlor of revocable trust.

• 736.0602 Revocation or amendment of revocable trust.

• 736.0603 Settlor’s powers; powers of withdrawal.

• 736.0604 Limitation on action contesting validity of revocable trust.

Part VII: OFFICE OF TRUSTEE (ss. 736.0701-736.0709)

• 736.0701 Accepting or declining trusteeship.

• 736.0702 Trustee’s bond.

• 736.0703 Cotrustees.

• 736.0704 Vacancy in trusteeship; appointment of successor.

• 736.0705 Resignation of trustee.

• 736.0706 Removal of trustee.

• 736.0707 Delivery of property by former trustee.

• 736.0708 Compensation of trustee.

• 736.0709 Reimbursement of expenses.

Part VIII: DUTIES AND POWERS OF TRUSTEE (ss. 736.0801-736.0817)

• 736.0801 Duty to administer trust.

• 736.0802 Duty of loyalty.

• 736.0803 Impartiality.

• 736.0804 Prudent administration.

• 736.0805 Expenses of administration.

• 736.0806 Trustee’s skills.

• 736.0807 Delegation by trustee.

• 736.0809 Control and protection of trust property.

• 736.0810 Recordkeeping and identification of trust property.

• 736.08105 Duty to ascertain marketable title of trust real property.

• 736.0811 Enforcement and defense of claims.

• 736.0812 Collecting trust property.

• 736.08125 Protection of successor trustees.

• 736.0813 Duty to inform and account.

• 736.08135 Trust accountings.

• 736.0814 Discretionary powers; tax savings.

• 736.08145 Grantor trust reimbursement.

• 736.08147 Duty to distribute trust income.

• 736.0815 General powers of trustee.

• 736.0816 Specific powers of trustee.

• 736.08163 Powers of trustees relating to environmental or human health laws or to trust property contaminated with hazardous or toxic substances; liability.

• 736.08165 Administration pending outcome of contest or other proceeding.

• 736.0817 Distribution on termination.

Part IX: TRUST INVESTMENTS (ss. 736.0901, 736.0902)

• 736.0901 Applicability of chapter 518.

• 736.0902 Nonapplication of prudent investor rule.

Part X: LIABILITY OF TRUSTEE AND RIGHTS OF PERSONS DEALING WITH TRUSTEE (ss. 736.1001-736.1018)

• 736.1001 Remedies for breach of trust.

• 736.1002 Damages for breach of trust.

• 736.1003 Damages in absence of breach.

• 736.1004 Attorney’s fees and costs.

• 736.1005 Attorney fees for services to the trust.

• 736.1006 Costs in trust proceedings.

• 736.1007 Trustee’s attorney fees.

• 736.1008 Limitations on proceedings against trustees.

• 736.1009 Reliance on trust instrument.

• 736.1010 Event affecting administration or distribution.

• 736.1011 Exculpation of trustee.

• 736.1012 Beneficiary’s consent, release, or ratification.

• 736.1013 Limitation on personal liability of trustee.

• 736.1014 Limitations on actions against certain trusts.

• 736.1015 Interest as general partner.

• 736.1016 Protection of person dealing with trustee.

• 736.1017 Certification of trust.

• 736.1018 Improper distribution or payment; liability of distributee.

Part XI: RULES OF CONSTRUCTION (ss. 736.1101-736.1109)

• 736.1101 Rules of construction; general provisions.

• 736.1102 Construction of terms.

• 736.1103 Gifts to multigeneration classes to be per stirpes.

• 736.1104 Person not entitled to receive property or other benefits by reason of victim’s death.

• 736.1105 Effect of subsequent marriage, birth, adoption, or dissolution of marriage.

• 736.1106 Antilapse; survivorship with respect to future interests under terms of inter vivos and testamentary trusts; substitute takers.

• 736.1107 Change in securities; accessions; nonademption.

• 736.1108 Penalty clause for contest.

• 736.1109 Testamentary and revocable trusts; homestead protections.

Part XII: CHARITABLE TRUSTS (ss. 736.1201-736.1211)

• 736.1201 Definitions.

• 736.1202 Application of this part.

• 736.1203 Trustee of a private foundation trust or a split interest trust.

• 736.1204 Powers and duties of trustee of a private foundation trust or a split interest trust.

• 736.1205 Notice that this part does not apply.

• 736.1206 Power to amend trust instrument.

• 736.1207 Power of court to permit deviation.

• 736.1208 Release; property and persons affected; manner of effecting.

• 736.1209 Election to come under this part.

• 736.1210 Interpretation.

• 736.1211 Protections afforded to certain charitable trusts and organizations.

Part XIII: MISCELLANEOUS (ss. 736.1301-736.1303)

• 736.1301 Electronic records and signatures.

• 736.1302 Severability clause.

• 736.1303 Application to existing relationships.

Part XIV: FLORIDA UNIFORM DIRECTED TRUST ACT (ss. 736.1401-736.1416)

• 736.1401 Short title.

• 736.1403 Application; principal place of administration.

• 736.1405 Exclusions.

• 736.1406 Power of trust director.

• 736.1407 Limitations on trust director.

• 736.1408 Duty and liability of trust director.

• 736.1409 Duty and liability of directed trustee.

• 736.141 Duty to provide information.

• 736.1411 No duty to monitor, inform, or advise.

• 736.1412 Application to cotrustee.

• 736.1413 Limitation of action against trust director.

• 736.1414 Defenses in action against trust director.

• 736.1415 Jurisdiction over trust director.

• 736.1416 Office of trust director.

Part XV: COMMUNITY PROPERTY TRUST ACT (ss. 736.1501-736.1512)

• 736.1501 Short title.

• 736.1502 Definitions.

• 736.1503 Requirements for community property trust.

• 736.1504 Agreement establishing community property trust; amendments and revocation.

• 736.1505 Classification of property as community property; enforcement; duration; management and control; effect of distributions.

• 736.1506 Satisfaction of obligations.

• 736.1507 Death of a spouse.

• 736.1508 Dissolution of marriage.

• 736.1509 Right of child to support.

• 736.151 Homestead property.

• 736.1511 Application of Internal Revenue Code; community property classified by another jurisdiction.

• 736.1512 Unenforceable trusts.