Blockbuster Guide To Drafting Florida TrustsBlockbuster Guide To Drafting Florida Trusts
The Florida Trust Code (FTC) was enacted as new Chapter 736 of Title XLII of the Florida Statutes (F.S.) and went into effect July 1, 2007. While generally modeled after the Uniform Trust Code (UTC), the FTC embodies only 60 percent of the UTC's provisions and nearly one-third of those provisions are substantively revised.1 The remaining 40 percent come from Florida's earlier laws. We will not examine
David F. Powell and Tye J. Klooster
The Florida Trust Code (FTC) was enacted as new Chapter 736 of Title XLII of the Florida Statutes (F.S.) and went into effect July 1, 2007. While generally modeled after the Uniform Trust Code (UTC), the FTC embodies only 60 percent of the UTC's provisions — and nearly one-third of those provisions are substantively revised.1 The remaining 40 percent come from Florida's earlier laws.
We will not examine the entire spectrum of changes to Florida trust law, but rather will discuss the practical and pressing issue now facing professionals involved in drafting Florida trusts: How should Florida trust forms be updated?
Default and Mandatory
Generally, under the FTC, the provisions of the trust instrument contro...
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