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2010 Florida Statutes
Nonjudicial settlement agreements.
Nonjudicial settlement agreements.
—For purposes of this section, the term “interested persons” means persons whose interest would be affected by a settlement agreement.
Except as otherwise provided in subsection (3), interested persons may enter into a binding nonjudicial settlement agreement with respect to any matter involving a trust.
A nonjudicial settlement agreement among the trustee and trust beneficiaries is valid only to the extent the terms and conditions could be properly approved by the court. A nonjudicial settlement may not be used to produce a result not authorized by other provisions of this code, including, but not limited to, terminating or modifying a trust in an impermissible manner.
Matters that may be resolved by a nonjudicial settlement agreement include:
The interpretation or construction of the terms of the trust.
The approval of a trustee’s report or accounting.
The direction to a trustee to refrain from performing a particular act or the grant to a trustee of any necessary or desirable power.
The resignation or appointment of a trustee and the determination of a trustee’s compensation.
The transfer of a trust’s principal place of administration.
The liability of a trustee for an action relating to the trust.
Any interested person may request the court to approve or disapprove a nonjudicial settlement agreement.
s. 1, ch. 2006-217.