HB 0425

CS

CHAMBER ACTION

1	The Economic Development, Trade & Banking Committee recommends
2	the following:
3
4	Council/Committee Substitute
5	Remove the entire bill and insert:
6	A bill to be entitled
7	An act relating to the Florida Trust Code; creating parts
8	I, II, III, IV, V, VI, VII, VIII, IX, X, XI, XII, and XIII
9	of chapter 736, F.S.; providing a short title; providing
10	general provisions and definitions; providing for judicial
11	proceedings; providing for representations; providing for
12	creation, validity, modification, and termination of
13	trusts; providing for creditors' claims; providing for
14	spendthrift, discretionary, and revocable trusts;
15	providing for the office of trustee; providing for powers
16	and duties of the trustee; providing for trust
17	investments; providing for liability of trustee and rights
18	of persons dealing with trustee; providing for rules of
19	construction; providing for charitable trusts; providing
20	miscellaneous provisions; creating s. 518.117, F.S.;
21	authorizing investment of certain fiduciary funds by
22	certain fiduciaries; amending s. 660.25, F.S.; providing a
23	definition of the term "investment instrument"; amending
24	s. 660.417, F.S.; revising provisions relating to
25	investment of fiduciary funds in investment instruments by
26	certain banks or trust companies; creating s. 689.175,
27	F.S.; abolishing the worthier title doctrine; providing
28	construction of certain instrument language; amending s.
29	731.103, F.S.; correcting a cross-reference; providing
30	construction relating to establishment of death by certain
31	evidence under certain circumstances; creating s.
32	731.1035, F.S.; providing for application of rules of
33	evidence in civil actions to certain proceedings; amending
34	s. 731.201, F.S.; revising definitions; conforming terms
35	and correcting cross-references; amending s. 731.303,
36	F.S.; specifying nonapplication of certain orders relating
37	to powers of revocation and powers of appointment;
38	revising provisions relating to representation by a holder
39	of a power of appointment; amending s. 732.513, F.S.;
40	deleting a ground protecting a devise's validity; amending
41	s. 732.603, F.S.; revising provisions relating to
42	antilapse, deceased devisees, and class gifts; amending s.
43	744.331, F.S.; revising provisions relating to orders
44	determining incapacity; amending s. 744.441, F.S.;
45	revising authority of certain guardians to prosecute or
46	defend claims or proceedings for certain purposes;
47	specifying duties of a court; creating s. 744.462, F.S.;
48	providing requirements for judicial determinations
49	relating to alternatives to guardianship; providing duties
50	of a court; amending ss. 497.458, 607.0802, 617.0802,
51	660.46, 660.418, 689.071, 689.075, 709.08, 721.08, 721.53,
52	732.2075, 732.604, 732.611, 733.212, 733.602, 733.805,
53	733.817, 738.104, 738.1041, 738.202, 739.102, and 744.361,
54	F.S., to conform terms and correct cross-references;
55	repealing ss. 737.101, 737.105, 737.106, 737.111, 737.115,
56	and 737.116, constituting part I of ch. 737, F.S.,
57	relating to trust registration; repealing ss. 737.201,
58	737.202, 737.203, 737.2035, 737.204, 737.2041, 737.205,
59	737.206, 737.2065, 737.207, 737.208, and 737.209,
60	constituting part II of ch. 737, F.S., relating to
61	jurisdiction of courts; repealing ss. 737.301, 737.302,
62	737.303, 737.3035, 737.304, 737.305, 737.3053, 737.3054,
63	737.3055, 737.306, 737.3061, 737.307, 737.308, and
64	737.309, constituting part III of ch. 737, F.S., relating
65	to duties and liabilities of trustees; repealing ss.
66	737.401, 737.402, 737.4025, 737.403, 737.4031, 737.4032,
67	737.4033, 737.404, 737.405, and 737.406, constituting part
68	IV of ch. 737, F.S., relating to powers of trustees;
69	repealing ss. 737.501, 737.502, 737.503, 737.504, 737.505,
70	737.506, 737.507, 737.508, 737.509, 737.510, 737.511, and
71	737.512, constituting part V of ch. 737, F.S., relating to
72	charitable trusts; repealing ss. 737.6035, 737.621,
73	737.622, 737.623, 737.624, 737.625, 737.626, and 737.627,
74	consisting of part VI of ch. 737, F.S., relating to rules
75	of construction of trust administration; providing an
76	effective date.
77
78	Be It Enacted by the Legislature of the State of Florida:
79
80	Section 1.  Part I of chapter 736, Florida Statutes,
81	consisting of sections 736.0101, 736.0102, 736.0103, 736.0104,
82	736.0105, 736.0106, 736.0107, 736.0108, 736.0109, 736.0110,
83	736.0111, and 736.0112, is created to read:
84
85	PART I
86	GENERAL PROVISIONS AND DEFINITIONS
87
88	736.0101  Short title.--This chapter may be cited as the
89	"Florida Trust Code" and for purposes of this chapter is
90	referred to as the "code."
91	736.0102  Scope.--This code applies to express trusts,
92	charitable or noncharitable, and trusts created pursuant to a
93	law, judgment, or decree that requires the trust to be
94	administered in the manner of an express trust. This code does
95	not apply to constructive or resulting trusts; conservatorships;
96	custodial arrangements pursuant to the Florida Uniform Transfers
97	to Minors Act; business trusts providing for certificates to be
98	issued to beneficiaries; common trust funds; land trusts under
99	s. 689.05; trusts created by the form of the account or by the
100	deposit agreement at a financial institution; voting trusts;
101	security arrangements; liquidation trusts; trusts for the
102	primary purpose of paying debts, dividends, interest, salaries,
103	wages, profits, pensions, or employee benefits of any kind; and
104	any arrangement under which a person is nominee or escrowee for
105	another.
106	736.0103  Definitions.--Unless the context otherwise
107	requires, in this code:
108	(1)  "Action," with respect to an act of a trustee,
109	includes a failure to act.
110	(2)  "Affiliate" means any person or entity that directly
111	or indirectly through one or more intermediaries owns or
112	controls, is owned or controlled by, or is under common control
113	or ownership with, the fiduciary. An affiliate may include, but
114	is not limited to, an investment adviser, administrator, broker,
115	custodian, transfer agent, placement agent, servicing agent,
116	registrar, underwriter, sponsor, distributor, or manager.
117	(3)  "Ascertainable standard" means a standard relating to
118	an individual's health, education, support, or maintenance
119	within the meaning of s. 2041(b)(1)(A) or s. 2514(c)(1) of the
120	Internal Revenue Code of 1986, as amended.
121	(4)  "Beneficiary" means a person who:
122	(a)  Has a present or future beneficial interest in a
123	trust, vested or contingent; or
124	(b)  Holds a power of appointment over trust property in a
125	capacity other than that of trustee.
126	(5)  "Charitable trust" means a trust, or portion of a
127	trust, created for a charitable purpose as described in s.
128	736.0405(1).
129	(6)  "Environmental law" means a federal, state, or local
130	law, rule, regulation, or ordinance that relates to protection
131	of the environment or human health.
132	(7)  "General power of appointment" means a power of
133	appointment exercisable in favor of the holder of the power, the
134	power holder's creditors, the power holder's estate, or the
135	creditors of the power holder's estate.
136	(8)  "Guardian of the person" means a person appointed by
137	the court to make decisions regarding the support, care,
138	education, health, and welfare of a minor or an incapacitated
139	adult. The term does not include a guardian ad litem.
140	(9)  "Guardian of the property" means a person appointed by
141	the court to administer the estate of a minor or incapacitated
142	adult.
143	(10)  "Interests of the beneficiaries" means the beneficial
144	interests provided in the terms of the trust.
145	(11)  "Jurisdiction" with respect to a geographic area,
146	includes a state or country.
147	(12)  "Power of withdrawal" means a presently exercisable
148	general power of appointment other than a power:
149	(a)  Exercisable by a trustee and limited by an
150	ascertainable standard; or
151	(b)  Exercisable by another person only upon consent of the
152	trustee or a person holding an adverse interest.
153	(13)  "Property" means anything that may be the subject of
154	ownership, real or personal, legal or equitable, or any interest
155	therein.
156	(14)  "Qualified beneficiary" means a living beneficiary
157	who, on the date the beneficiary's qualification is determined:
158	(a)  Is a distributee or permissible distributee of trust
159	income or principal;
160	(b)  Would be a distributee or permissible distributee of
161	trust income or principal if the interests of the distributees
162	described in paragraph (a) terminated on that date without
163	causing the trust to terminate; or
164	(c)  Would be a distributee or permissible distributee of
165	trust income or principal if the trust terminated in accordance
166	with its terms on that date.
167	(15)  "Revocable," as applied to a trust, means revocable
168	by the settlor without the consent of the trustee or a person
169	holding an adverse interest.
170	(16)  "Settlor" means a person, including a testator, who
171	creates or contributes property to a trust. If more than one
172	person creates or contributes property to a trust, each person
173	is a settlor of the portion of the trust property attributable
174	to that person's contribution except to the extent another
175	person has the power to revoke or withdraw that portion.
176	(17)  "Spendthrift provision" means a term of a trust that
177	restrains both voluntary and involuntary transfer of a
178	beneficiary's interest.
179	(18)  "State" means any state of the United States and
180	includes the District of Columbia, the Commonwealth of Puerto
181	Rico, and any territory or possession subject to the legislative
182	authority of the United States.
183	(19)  "Terms of a trust" means the manifestation of the
184	settlor's intent regarding a trust's provisions as expressed in
185	the trust instrument or as may be established by other evidence
186	that would be admissible in a judicial proceeding.
187	(20)  "Trust instrument" means an instrument executed by a
188	settlor that contains terms of the trust, including any
189	amendments to the trust.
190	(21)  "Trustee" means the original trustee and includes any
191	additional trustee, any successor trustee, and any cotrustee.
192	736.0104  Knowledge.--
193	(1)  Subject to subsection (2), a person has knowledge of a
194	fact if the person:
195	(a)  Has actual knowledge of the fact;
196	(b)  Has received a notice or notification of the fact; or
197	(c)  Has reason to know the fact from all the other facts
198	and circumstances known to the person at the time in question.
199	(2)  An organization that conducts activities through
200	employees has notice or knowledge of a fact involving a trust
201	only from the time the information was received by an employee
202	having responsibility to act on matters involving the trust, or
203	would have been brought to the employee's attention if the
204	organization had exercised reasonable diligence. An organization
205	exercises reasonable diligence if the organization maintains
206	reasonable routines for communicating significant information to
207	the employee having responsibility to act on matters involving
208	the trust and there is reasonable compliance with the routines.
209	Reasonable diligence does not require an employee of the
210	organization to communicate information unless the communication
211	is part of the individual's regular duties or the individual
212	knows a matter involving the trust would be materially affected
213	by the information.
214	736.0105  Default and mandatory rules.--
215	(1)  Except as otherwise provided in the terms of the
216	trust, this code governs the duties and powers of a trustee,
217	relations among trustees, and the rights and interests of a
218	beneficiary.
219	(2)  The terms of a trust prevail over any provision of
220	this code except:
221	(a)  The requirements for creating a trust.
222	(b)  The duty of the trustee to act in good faith and in
223	accordance with the terms and purposes of the trust and the
224	interests of the beneficiaries.
225	(c)  The requirement that a trust and its terms be for the
226	benefit of the trust's beneficiaries, and that the trust have a
227	purpose that is lawful, not contrary to public policy, and
228	possible to achieve.
229	(d)  The periods of limitation for commencing a judicial
230	proceeding.
231	(e)  The power of the court to take such action and
232	exercise such jurisdiction as may be necessary in the interests
233	of justice.
234	(f)  The requirements under s. 736.0108(1) for the
235	designation of a principal place of administration of the trust.
236	(g)  The jurisdiction and venue provisions in ss. 736.0202,
237	736.0203, and 736.0204.
238	(h)  The restrictions on the designation of representative
239	under s. 736.0306.
240	(i)  The formalities required under s. 736.0403(2) for the
241	execution of a trust.
242	(j)  The power of the court to modify or terminate a trust
243	under ss. 736.0410-736.04115, except as provided in s.
244	736.04115(3)(b), and under ss. 736.0413, 736.0415, and 736.0416.
245	(k)  The ability to modify a trust under s. 736.0412,
246	except as provided in s. 736.0412(4)(b).
247	(l)  The effect of a spendthrift provision and the rights
248	of certain creditors and assignees to reach a trust as provided
249	in part V.
250	(m)  The trustee's duty under s. 736.05053 to pay expenses
251	and obligations of the settlor's estate.
252	(n)  The trustee's duty under s. 736.05055 to file a notice
253	of trust at the settlor's death.
254	(o)  The right of a trustee under s. 736.0701 to decline a
255	trusteeship and the right of a trustee under s. 736.0705 to
256	resign a trusteeship.
257	(p)  The power of the court under s. 736.0702 to require,
258	dispense with, modify, or terminate a bond.
259	(q)  The power of the court under s. 736.0708(2) to adjust
260	a trustee's compensation specified in the terms of the trust
261	that is unreasonably low or high.
262	(r)  The duty under s. 736.0813(1)(a) and (b) to notify
263	qualified beneficiaries of an irrevocable trust of the existence
264	of the trust, of the identity of the trustee, and of their
265	rights to trust accountings.
266	(s)  The duty under s. 736.0813(1)(c) and (d) to provide a
267	complete copy of the trust instrument and to account to
268	qualified beneficiaries.
269	(t)  The duty under s. 736.0813(1)(e) to respond to the
270	request of a qualified beneficiary of an irrevocable trust for
271	relevant information about the assets and liabilities of the
272	trust and the particulars relating to trust administration.
273	(u)  The effect of an exculpatory term under s. 736.1011.
274	(v)  The rights under ss. 736.1013-736.1017 of a person
275	other than a trustee or beneficiary.
276	(w)  The effect of a penalty clause for contesting a trust
277	under s. 736.1108.
278	736.0106  Common law of trusts; principles of equity.--The
279	common law of trusts and principles of equity supplement this
280	code, except to the extent modified by this code or another law
281	of this state.
282	736.0107  Governing law.--The meaning and effect of the
283	terms of a trust are determined by:
284	(1)  The law of the jurisdiction designated in the terms of
285	the trust, provided there is a sufficient nexus to the
286	designated jurisdiction at the time of the creation of the trust
287	or during the trust administration, including, but not limited
288	to, the location of real property held by the trust or the
289	residence or location of an office of the settlor, trustee, or
290	any beneficiary; or
291	(2)  In the absence of a controlling designation in the
292	terms of the trust, the law of the jurisdiction where the
293	settlor resides at the time the trust is first created.
294
295	Notwithstanding subsection (1) or subsection (2), a designation
296	in the terms of a trust is not controlling as to any matter for
297	which the designation would be contrary to a strong public
298	policy of this state.
299	736.0108  Principal place of administration.--
300	(1)  Terms of a trust designating the principal place of
301	administration of the trust are valid only if there is a
302	sufficient connection with the designated jurisdiction. Without
303	precluding other means for establishing a sufficient connection,
304	terms of a trust designating the principal place of
305	administration are valid and controlling if:
306	(a)  A trustee's principal place of business is located in
307	or a trustee is a resident of the designated jurisdiction; or
308	(b)  All or part of the administration occurs in the
309	designated jurisdiction.
310	(2)  Unless otherwise validly designated in the trust
311	instrument, the principal place of administration of a trust is
312	the trustee's usual place of business where the records
313	pertaining to the trust are kept or, if the trustee has no place
314	of business, the trustee's residence. In the case of cotrustees,
315	the principal place of administration is:
316	(a)  The usual place of business of the corporate trustee,
317	if there is only one corporate cotrustee;
318	(b)  The usual place of business or residence of the
319	individual trustee who is a professional fiduciary, if there is
320	only one such person and no corporate cotrustee; or otherwise
321	(c)  The usual place of business or residence of any of the
322	cotrustees as agreed on by the cotrustees.
323	(3)  Notwithstanding any other provision of this section,
324	the principal place of administration of a trust, for which a
325	bank, association, or trust company organized under the laws of
326	this state or bank or savings association organized under the
327	laws of the United States with its main office in this state has
328	been appointed trustee, shall not be moved or otherwise affected
329	solely because the trustee engaged in an interstate merger
330	transaction with an out-of-state bank pursuant to s. 658.2953 in
331	which the out-of-state bank is the resulting bank.
332	(4)  A trustee is under a continuing duty to administer the
333	trust at a place appropriate to its purposes and its
334	administration.
335	(5)  Without precluding the right of the court to order,
336	approve, or disapprove a transfer, the trustee, in furtherance
337	of the duty prescribed by subsection (4), may transfer the
338	trust's principal place of administration to another state or to
339	a jurisdiction outside of the United States.
340	(6)  The trustee shall notify the qualified beneficiaries
341	of a proposed transfer of a trust's principal place of
342	administration not less than 60 days before initiating the
343	transfer. The notice of proposed transfer must include:
344	(a)  The name of the jurisdiction to which the principal
345	place of administration is to be transferred.
346	(b)  The address and telephone number at the new location
347	at which the trustee can be contacted.
348	(c)  An explanation of the reasons for the proposed
349	transfer.
350	(d)  The date on which the proposed transfer is anticipated
351	to occur.
352	(e)  The date, not less than 60 days after the notice is
353	provided, by which the qualified beneficiary must notify the
354	trustee of an objection to the proposed transfer.
355	(7)  The authority of a trustee to act under this section
356	without court approval to transfer a trust's principal place of
357	administration is suspended if a qualified beneficiary files a
358	lawsuit objecting to the proposed transfer on or before the date
359	specified in the notice. The suspension is effective until the
360	lawsuit is dismissed or withdrawn.
361	(8)  In connection with a transfer of the trust's principal
362	place of administration, the trustee may transfer any of the
363	trust property to a successor trustee designated in the terms of
364	the trust or appointed pursuant to s. 736.0704.
365	736.0109  Methods and waiver of notice.--
366	(1)  Notice to a person under this code or the sending of a
367	document to a person under this code must be accomplished in a
368	manner reasonably suitable under the circumstances and likely to
369	result in receipt of the notice or document. Permissible methods
370	of notice or for sending a document include first-class mail,
371	personal delivery, delivery to the person's last known place of
372	residence or place of business, or a properly directed facsimile
373	or other electronic message.
374	(2)  Notice otherwise required under this code or a
375	document otherwise required to be sent under this code need not
376	be provided to a person whose identity or location is unknown to
377	and not reasonably ascertainable by the trustee.
378	(3)  Notice under this code or the sending of a document
379	under this code may be waived by the person to be notified or to
380	whom the document is to be sent.
381	(4)  Notice of a judicial proceeding must be given as
382	provided in the Florida Rules of Civil Procedure.
383	736.0110  Others treated as qualified beneficiaries.--
384	(1)  A charitable organization expressly designated to
385	receive distributions under the terms of a charitable trust has
386	the rights of a qualified beneficiary under this code if the
387	charitable organization, on the date the charitable
388	organization's qualification is being determined:
389	(a)  Is a distributee or permissible distributee of trust
390	income or principal;
391	(b)  Would be a distributee or permissible distributee of
392	trust income or principal on termination of the interests of
393	other distributees or permissible distributees then receiving or
394	eligible to receive distributions; or
395	(c)  Would be a distributee or permissible distributee of
396	trust income or principal if the trust terminated on that date.
397	(2)  A person appointed to enforce a trust created for the
398	care of an animal or another noncharitable purpose as provided
399	in s. 736.0408 or s. 736.0409 has the rights of a qualified
400	beneficiary under this code.
401	(3)  The Attorney General may assert the rights of a
402	qualified beneficiary with respect to a charitable trust having
403	its principal place of administration in this state.
404	736.0111  Nonjudicial settlement agreements.--
405	(1)  For purposes of this section, the term "interested
406	persons" means persons whose interest would be affected by a
407	settlement agreement.
408	(2)  Except as otherwise provided in subsection (3),
409	interested persons may enter into a binding nonjudicial
410	settlement agreement with respect to any matter involving a
411	trust.
412	(3)  A nonjudicial settlement agreement among the trustee
413	and trust beneficiaries is valid only to the extent the terms
414	and conditions could be properly approved by the court. A
415	nonjudicial settlement may not be used to produce a result not
416	authorized by other provisions of this code, including, but not
417	limited to, terminating or modifying a trust in an impermissible
418	manner.
419	(4)  Matters that may be resolved by a nonjudicial
420	settlement agreement include:
421	(a)  The interpretation or construction of the terms of the
422	trust.
423	(b)  The approval of a trustee's report or accounting.
424	(c)  The direction to a trustee to refrain from performing
425	a particular act or the grant to a trustee of any necessary or
426	desirable power.
427	(d)  The resignation or appointment of a trustee and the
428	determination of a trustee's compensation.
429	(e)  The transfer of a trust's principal place of
430	administration.
431	(f)  The liability of a trustee for an action relating to
432	the trust.
433	(5)  Any interested person may request the court to approve
434	or disapprove a nonjudicial settlement agreement.
435	736.0112  Qualification of foreign trustee.--Unless
436	otherwise doing business in this state, local qualification by a
437	foreign trustee is not required for the trustee to receive
438	distribution from a local estate. Nothing in this chapter shall
439	affect the provisions of s. 660.41.
440	Section 2.  Part II of chapter 736, Florida Statutes,
441	consisting of sections 736.0201, 736.0202, 736.0203, 736.0204,
442	736.0205, 736.0206, and 736.0207, is created to read:
443
444	PART II
445	JUDICIAL PROCEEDINGS
446
447	736.0201  Role of court in trust proceedings.--
448	(1)  Except as provided in subsection (5) and s. 736.0206,
449	proceedings concerning trusts shall be commenced by filing a
450	complaint and shall be governed by the Florida Rules of Civil
451	Procedure.
452	(2)  The court may intervene in the administration of a
453	trust to the extent the court's jurisdiction is invoked by an
454	interested person or as provided by law.
455	(3)  A trust is not subject to continuing judicial
456	supervision unless ordered by the court.
457	(4)  A judicial proceeding involving a trust may relate to
458	the validity, administration, or distribution of a trust,
459	including proceedings to:
460	(a)  Determine the validity of all or part of a trust;
461	(b)  Appoint or remove a trustee;
462	(c)  Review trustees' fees;
463	(d)  Review and settle interim or final accounts;
464	(e)  Ascertain beneficiaries; determine any question
465	arising in the administration or distribution of any trust,
466	including questions of construction of trust instruments;
467	instruct trustees; and determine the existence or nonexistence
468	of any immunity, power, privilege, duty, or right;
469	(f)  Obtain a declaration of rights; or
470	(g)  Determine any other matters involving trustees and
471	beneficiaries.
472	(5)  A proceeding for the construction of a testamentary
473	trust may be filed in the probate proceeding for the testator's
474	estate. The proceeding shall be governed by the Florida Probate
475	Rules.
476	736.0202  Jurisdiction over trustee and beneficiary.--
477	(1)  By accepting the trusteeship of a trust having its
478	principal place of administration in this state or by moving the
479	principal place of administration to this state, the trustee
480	submits personally to the jurisdiction of the courts of this
481	state regarding any matter involving the trust.
482	(2)  With respect to their interests in the trust, the
483	beneficiaries of a trust having its principal place of
484	administration in this state are subject to the jurisdiction of
485	the courts of this state regarding any matter involving the
486	trust. By accepting a distribution from such a trust, the
487	recipient submits personally to the jurisdiction of the courts
488	of this state regarding any matter involving the distribution.
489	(3)  This section does not preclude other methods of
490	obtaining jurisdiction over a trustee, beneficiary, or other
491	person receiving property from the trust.
492	736.0203  Subject-matter jurisdiction.--The circuit court
493	has original jurisdiction in this state of all proceedings
494	arising under this code.
495	736.0204  Venue.--Venue for actions and proceedings
496	concerning trusts, including those under s. 736.0201, may be
497	laid in:
498	(1)  Any county where the venue is proper under chapter 47;
499	(2)  Any county where the beneficiary suing or being sued
500	resides or has its principal place of business; or
501	(3)  The county where the trust has its principal place of
502	administration.
503	736.0205  Trust proceedings; dismissal of matters relating
504	to foreign trusts.--Over the objection of a party, the court
505	shall not entertain proceedings under s. 736.0201 for a trust
506	registered, or having its principal place of administration, in
507	another state unless all interested parties could not be bound
508	by litigation in the courts of the state where the trust is
509	registered or has its principal place of administration. The
510	court may condition a stay or dismissal of a proceeding under
511	this section on the consent of any party to jurisdiction of the
512	state where the trust is registered or has its principal place
513	of business, or the court may grant a continuance or enter any
514	other appropriate order.
515	736.0206  Proceedings for review of employment of agents
516	and review of compensation of trustee and employees of trust.--
517	(1)  After notice to all interested persons, the court may
518	review the propriety of the employment by a trustee of any
519	person, including any attorney, auditor, investment adviser, or
520	other specialized agent or assistant, and the reasonableness of
521	any compensation paid to that person or to the trustee.
522	(2)  If the settlor's estate is being probated, and the
523	settlor's trust or the trustee of the settlor's trust is a
524	beneficiary under the settlor's will, the trustee, any person
525	employed by the trustee, or any interested person may have the
526	propriety of employment and the reasonableness of the
527	compensation of the trustee or any person employed by the
528	trustee determined in the probate proceeding.
529	(3)  The burden of proof of the propriety of the employment
530	and the reasonableness of the compensation shall be on the
531	trustee and the person employed by the trustee. Any person who
532	is determined to have received excessive compensation from a
533	trust for services rendered may be ordered to make appropriate
534	refunds.
535	(4)  Court proceedings to determine reasonable compensation
536	of a trustee or any person employed by a trustee, if required,
537	are a part of the trust administration process. The costs,
538	including attorney's fees, of the person assuming the burden of
539	proof of propriety of the employment and reasonableness of the
540	compensation shall be determined by the court and paid from the
541	assets of the trust unless the court finds the compensation paid
542	or requested to be substantially unreasonable. The court shall
543	direct from which part of the trust assets the compensation
544	shall be paid.
545	(5)  The court may determine reasonable compensation for a
546	trustee or any person employed by a trustee without receiving
547	expert testimony. Any party may offer expert testimony after
548	notice to interested persons. If expert testimony is offered, a
549	reasonable expert witness fee shall be awarded by the court and
550	paid from the assets of the trust. The court shall direct from
551	which part of the trust assets the fee shall be paid.
552	(6)  Persons given notice as provided in this section shall
553	be bound by all orders entered on the complaint.
554	(7)  In a proceeding pursuant to subsection (2), the
555	petitioner may serve formal notice as provided in the Florida
556	Probate Rules, and such notice shall be sufficient for the court
557	to acquire jurisdiction over the person receiving the notice to
558	the extent of the person's interest in the trust.
559	736.0207  Trust contests.--An action to contest the
560	validity of all or part of a trust may not be commenced until
561	the trust becomes irrevocable, except this section does not
562	prohibit such action by the guardian of the property of an
563	incapacitated settlor.
564	Section 3.  Part III of chapter 736, Florida Statutes,
565	consisting of sections 736.0301, 736.0302, 736.0303, 736.0304,
566	736.0305, and 736.0306, is created to read:
567
568	PART III
569	REPRESENTATION
570
571	736.0301  Representation; basic effect.--
572	(1)  Notice, information, accountings, or reports given to
573	a person who may represent and bind another person under this
574	part may serve as a substitute for and have the same effect as
575	notice, information, accountings, or reports given directly to
576	the other person.
577	(2)  Actions taken by a person who represents the interests
578	of another person under this part are binding on the person
579	whose interests are represented to the same extent as if the
580	actions had been taken by the person whose interests are
581	represented.
582	(3)  Except as otherwise provided in s. 736.0602, a person
583	under this part who represents a settlor lacking capacity may
584	receive notice and give a binding consent on the settlor's
585	behalf.
586	(4)  A trustee is not liable for giving notice,
587	information, accountings, or reports to a beneficiary who is
588	represented by another person under this part and nothing in
589	this part prohibits the trustee from giving notice, information,
590	accountings, or reports to the person represented.
591	736.0302  Representation by holder of power of
592	appointment.--
593	(1)  The holder of a power of appointment may represent and
594	bind persons whose interests, as permissible appointees, takers
595	in default, or otherwise, are subject to the power.
596	(2)  Subsection (1) does not apply to:
597	(a)  Any matter determined by the court to involve fraud or
598	bad faith by the trustee;
599	(b)  A power of a trustee to distribute trust property; or
600	(c)  A power of appointment held by a person while the
601	person is the sole trustee.
602	736.0303  Representation by fiduciaries and parents.--To
603	the extent there is no conflict of interest between the
604	representative and the person represented or among those being
605	represented with respect to a particular question or dispute:
606	(1)  A guardian of the property may represent and bind the
607	estate that the guardian of the property controls.
608	(2)  An agent having authority to act with respect to the
609	particular question or dispute may represent and bind the
610	principal.
611	(3)  A trustee may represent and bind the beneficiaries of
612	the trust.
613	(4)  A personal representative of a decedent's estate may
614	represent and bind persons interested in the estate.
615	(5)  A parent may represent and bind the parent's unborn
616	child, or the parent's minor child if a guardian of the property
617	for the minor child has not been appointed.
618	736.0304  Representation by person having substantially
619	identical interest.--Unless otherwise represented, a minor,
620	incapacitated, or unborn individual, or a person whose identity
621	or location is unknown and not reasonably ascertainable, may be
622	represented by and bound by another person having a
623	substantially identical interest with respect to the particular
624	question or dispute, but only to the extent there is no conflict
625	of interest between the representative and the person
626	represented.
627	736.0305  Appointment of representative.--
628	(1)  If the court determines that an interest is not
629	represented under this part, or that the otherwise available
630	representation might be inadequate, the court may appoint a
631	representative to receive notice, give consent, and otherwise
632	represent, bind, and act on behalf of a minor, incapacitated, or
633	unborn individual, or a person whose identity or location is
634	unknown. If not precluded by a conflict of interest, a
635	representative may be appointed to represent several persons or
636	interests.
637	(2)  A representative may act on behalf of the individual
638	represented with respect to any matter arising under this code,
639	whether or not a judicial proceeding concerning the trust is
640	pending.
641	(3)  In making decisions, a representative may consider
642	general benefits accruing to the living members of the
643	represented individual's family.
644	736.0306  Designated representative.--
645	(1)  If authorized in the trust instrument, one or more
646	persons may be designated to represent and bind a beneficiary
647	and receive any notice, information, accounting, or report.
648	(2)  Except as otherwise provided in this code, a person
649	designated, as provided in subsection (1) may not represent and
650	bind a beneficiary while that person is serving as trustee.
651	(3)  Except as otherwise provided in this code, a person
652	designated, as provided in subsection (1) may not represent and
653	bind another beneficiary if the person designated also is a
654	beneficiary, unless:
655	(a)  That person was named by the settlor; or
656	(b)  That person is the beneficiary's spouse or a
657	grandparent or descendant of a grandparent of the beneficiary or
658	the beneficiary's spouse.
659	(4)  No person designated, as provided in subsection (1) is
660	liable to the beneficiary whose interests are represented, or to
661	anyone claiming through that beneficiary, for any actions or
662	omissions to act made in good faith.
663	Section 4.  Part IV of chapter 736, Florida Statutes,
664	consisting of sections 736.0401, 736.0402, 736.0403, 736.0404,
665	736.0405, 736.0406, 736.0407, 736.0408, 736.0409, 736.0410,
666	736.04113, 736.04115, 736.0412, 736.0413, 736.0414, 736.0415,
667	736.0416, and 736.0417, is created to read:
668
669	PART IV
670	CREATION, VALIDITY, MODIFICATION, AND TERMINATION
671
672	736.0401  Methods of creating trust.--A trust may be
673	created by:
674	(1)  Transfer of property to another person as trustee
675	during the settlor's lifetime or by will or other disposition
676	taking effect on the settlor's death;
677	(2)  Declaration by the owner of property that the owner
678	holds identifiable property as trustee; or
679	(3)  Exercise of a power of appointment in favor of a
680	trustee.
681	736.0402  Requirements for creation.--
682	(1)  A trust is created only if:
683	(a)  The settlor has capacity to create a trust.
684	(b)  The settlor indicates an intent to create the trust.
685	(c)  The trust has a definite beneficiary or is:
686	1.  A charitable trust;
687	2.  A trust for the care of an animal, as provided in s.
688	736.0408; or
689	3.  A trust for a noncharitable purpose, as provided in s.
690	736.0409.
691	(d)  The trustee has duties to perform.
692	(e)  The same person is not the sole trustee and sole
693	beneficiary.
694	(2)  A beneficiary is definite if the beneficiary can be
695	ascertained now or in the future, subject to any applicable rule
696	against perpetuities.
697	(3)  A power of a trustee to select a beneficiary from an
698	indefinite class is valid. If the power is not exercised within
699	a reasonable time, the power fails and the property subject to
700	the power passes to the persons who would have taken the
701	property had the power not been conferred.
702	736.0403  Trusts created in other jurisdictions;
703	formalities required for revocable trusts.--
704	(1)  A trust not created by will is validly created if the
705	creation of the trust complies with the law of the jurisdiction
706	in which the trust instrument was executed or the law of the
707	jurisdiction in which, at the time of creation, the settlor was
708	domiciled.
709	(2)  Notwithstanding subsection (1):
710	(a)  No trust or confidence of or in any messuages, lands,
711	tenements, or hereditaments shall arise or result unless the
712	trust complies with the provisions of s. 689.05.
713	(b)1.  The testamentary aspects of a revocable trust,
714	executed by a settlor who is a domiciliary of this state at the
715	time of execution, are invalid unless the trust instrument is
716	executed by the settlor with the formalities required for the
717	execution of a will in this state. For purposes of this
718	subsection, the term "testamentary aspects" means those
719	provisions of the trust instrument that dispose of the trust
720	property on or after the death of the settlor other than to the
721	settlor's estate.
722	2.  This paragraph does not apply to trusts established as
723	part of an employee annuity described in s. 403 of the Internal
724	Revenue Code of 1986, as amended, an individual retirement
725	account as described in s. 408 of the Internal Revenue Code of
726	1986, as amended, a Keogh (HR-10) Plan, or a retirement or other
727	plan that is qualified under s. 401 of the Internal Revenue Code
728	of 1986, as amended.
729	3.  This paragraph applies to trusts created on or after
730	the effective date of this code. Section 737.111, as in effect
731	prior to the effective date of this code, continues to apply to
732	trusts created before the effective date of this code.
733	736.0404  Trust purposes.--A trust may be created only to
734	the extent the purposes of the trust are lawful, not contrary to
735	public policy, and possible to achieve. A trust and its terms
736	must be for the benefit of its beneficiaries.
737	736.0405  Charitable purposes; enforcement.--
738	(1)  A trust may be created for charitable purposes.
739	Charitable purposes include, but are not limited to, the relief
740	of poverty; the advancement of arts, sciences, education, or
741	religion; and the promotion of health, governmental, or
742	municipal purposes.
743	(2)  If the terms of a charitable trust do not indicate a
744	particular charitable purpose or beneficiary, the court may
745	select one or more charitable purposes or beneficiaries. The
746	selection must be consistent with the settlor's intent to the
747	extent such intent can be ascertained.
748	(3)  The settlor of a charitable trust, among others, has
749	standing to enforce the trust.
750	736.0406  Effect of fraud, duress, mistake, or undue
751	influence.--A trust is void if the creation of the trust is
752	procured by fraud, duress, mistake, or undue influence. Any part
753	of the trust is void if procured by such means, but the
754	remainder of the trust not procured by such means is valid if
755	the remainder is not invalid for other reasons.
756	736.0407  Evidence of oral trust.--Except as required by s.
757	736.0403 or a law other than this code, a trust need not be
758	evidenced by a trust instrument but the creation of an oral
759	trust and its terms may be established only by clear and
760	convincing evidence.
761	736.0408  Trust for care of an animal.--
762	(1)  A trust may be created to provide for the care of an
763	animal alive during the settlor's lifetime. The trust terminates
764	on the death of the animal or, if the trust was created to
765	provide for the care of more than one animal alive during the
766	settlor's lifetime, on the death of the last surviving animal.
767	(2)  A trust authorized by this section may be enforced by
768	a person appointed in the terms of the trust or, if no person is
769	appointed, by a person appointed by the court. A person having
770	an interest in the welfare of the animal may request the court
771	to appoint a person to enforce the trust or to remove a person
772	appointed.
773	(3)  Property of a trust authorized by this section may be
774	applied only to the intended use of the property, except to the
775	extent the court determines that the value of the trust property
776	exceeds the amount required for the intended use. Except as
777	otherwise provided in the terms of the trust, property not
778	required for the intended use must be distributed to the
779	settlor, if then living, otherwise as part of the settlor's
780	estate.
781	736.0409  Noncharitable trust without ascertainable
782	beneficiary.--Except as otherwise provided in s. 736.0408 or by
783	another provision of law, the following rules apply:
784	(1)  A trust may be created for a noncharitable purpose
785	without a definite or definitely ascertainable beneficiary or
786	for a noncharitable but otherwise valid purpose to be selected
787	by the trustee. The trust may not be enforced for more than 21
788	years.
789	(2)  A trust authorized by this section may be enforced by
790	a person appointed in the terms of the trust or, if no person is
791	appointed, by a person appointed by the court.
792	(3)  Property of a trust authorized by this section may be
793	applied only to the intended use of the property, except to the
794	extent the court determines that the value of the trust property
795	exceeds the amount required for the intended use. Except as
796	otherwise provided in the terms of the trust, property not
797	required for the intended use must be distributed to the
798	settlor, if then living, otherwise as part of the settlor's
799	estate.
800	736.0410  Modification or termination of trust; proceedings
801	for disapproval of nonjudicial acts.--
802	(1)  In addition to the methods of termination prescribed
803	by ss. 736.04113-736.0414, a trust terminates to the extent the
804	trust expires or is revoked or is properly distributed pursuant
805	to the terms of the trust.
806	(2)  A proceeding to disapprove a proposed modification or
807	termination under s. 736.0412 or a trust combination or division
808	under s. 736.0417 may be commenced by any beneficiary.
809	(3)  A proceeding to disapprove a proposed termination
810	under s. 736.0414(1) may be commenced by any qualified
811	beneficiary.
812	736.04113  Judicial modification of irrevocable trust when
813	modification is not inconsistent with settlor's purpose.--
814	(1)  Upon the application of a trustee of the trust or any
815	qualified beneficiary, a court at any time may modify the terms
816	of a trust that is not then revocable in the manner provided in
817	subsection (2), if:
818	(a)  The purposes of the trust have been fulfilled or have
819	become illegal, impossible, wasteful, or impracticable to
820	fulfill;
821	(b)  Because of circumstances not anticipated by the
822	settlor, compliance with the terms of the trust would defeat or
823	substantially impair the accomplishment of a material purpose of
824	the trust; or
825	(c)  A material purpose of the trust no longer exists.
826	(2)  In modifying a trust under this section, a court may:
827	(a)  Amend or change the terms of the trust, including
828	terms governing distribution of the trust income or principal or
829	terms governing administration of the trust;
830	(b)  Terminate the trust in whole or in part;
831	(c)  Direct or permit the trustee to do acts that are not
832	authorized or that are prohibited by the terms of the trust; or
833	(d)  Prohibit the trustee from performing acts that are
834	permitted or required by the terms of the trust.
835	(3)  In exercising discretion to modify a trust under this
836	section:
837	(a)  The court shall consider the terms and purposes of the
838	trust, the facts and circumstances surrounding the creation of
839	the trust, and extrinsic evidence relevant to the proposed
840	modification.
841	(b)  The court shall consider spendthrift provisions as a
842	factor in making a decision but the court is not precluded from
843	modifying a trust because the trust contains spendthrift
844	provisions.
845	(4)  The provisions of this section are in addition to, and
846	not in derogation of, rights under the common law to modify,
847	amend, terminate, or revoke trusts.
848	736.04115  Judicial modification of irrevocable trust when
849	modification is in best interest of beneficiaries.--
850	(1)  Without regard to the reasons for modification
851	provided in s. 736.04113, if compliance with the terms of a
852	trust is not in the best interests of the beneficiaries, upon
853	the application of a trustee or any qualified beneficiary, a
854	court may at any time modify a trust that is not then revocable
855	as provided in s. 736.04113(2).
856	(2)  In exercising discretion to modify a trust under this
857	section:
858	(a)  The court shall exercise discretion in a manner that
859	conforms to the extent possible with the intent of the settlor,
860	taking into account the current circumstances and best interests
861	of the beneficiaries.
862	(b)  The court shall consider the terms and purposes of the
863	trust, the facts and circumstances surrounding the creation of
864	the trust, and extrinsic evidence relevant to the proposed
865	modification.
866	(c)  The court shall consider spendthrift provisions as a
867	factor in making a decision but the court is not precluded from
868	modifying a trust because the trust contains spendthrift
869	provisions.
870	(3)  This section shall not apply to:
871	(a)  Any trust created prior to January 1, 2001.
872	(b)  Any trust created after December 31, 2000, if:
873	1.  Under the terms of the trust, all beneficial interests
874	in the trust must vest or terminate within the period prescribed
875	by the rule against perpetuities in s. 689.225(2),
876	notwithstanding s. 689.225(2)(f).
877	2.  The terms of the trust expressly prohibit judicial
878	modification.
879	(4)  For purposes of subsection (3), a revocable trust
880	shall be treated as created when the right of revocation
881	terminates.
882	(5)  The provisions of this section are in addition to, and
883	not in derogation of, rights under the common law to modify,
884	amend, terminate, or revoke trusts.
885	736.0412  Nonjudicial modification of irrevocable trust.--
886	(1)  After the settlor's death, a trust may be modified at
887	any time as provided in s. 736.04113(2) upon the unanimous
888	agreement of the trustee and all qualified beneficiaries.
889	(2)  Modification of a trust as authorized in this section
890	is not prohibited by a spendthrift clause or by a provision in
891	the trust instrument that prohibits amendment or revocation of
892	the trust.
893	(3)  An agreement to modify a trust under this section is
894	binding on a beneficiary whose interest is represented by
895	another person under part III of this code.
896	(4)  This section shall not apply to:
897	(a)  Any trust created prior to January 1, 2001.
898	(b)  Any trust created after December 31, 2000, if, under
899	the terms of the trust, all beneficial interests in the trust
900	must vest or terminate within the period prescribed by the rule
901	against perpetuities in s. 689.225(2), notwithstanding s.
902	689.225(2)(f), unless the terms of the trust expressly authorize
903	nonjudicial modification.
904	(c)  Any trust for which a charitable deduction is allowed
905	or allowable under the Internal Revenue Code until the
906	termination of all charitable interests in the trust.
907	(5)  For purposes of subsection (4), a revocable trust
908	shall be treated as created when the right of revocation
909	terminates.
910	(6)  The provisions of this section are in addition to, and
911	not in derogation of, rights under the common law to modify,
912	amend, terminate, or revoke trusts.
913	736.0413  Cy pres.--
914	(1)  If a particular charitable purpose becomes unlawful,
915	impracticable, impossible to achieve, or wasteful, the court may
916	apply the doctrine of cy pres to modify or terminate the trust
917	by directing that the trust property be applied or distributed,
918	in whole or in part, in a manner consistent with the settlor's
919	charitable purposes.
920	(2)  A proceeding to modify or terminate a trust under this
921	section may be commenced by a settlor, a trustee, or any
922	qualified beneficiary.
923	736.0414  Modification or termination of uneconomic
924	trust.--
925	(1)  After notice to the qualified beneficiaries, the
926	trustee of a trust consisting of trust property having a total
927	value less than $50,000 may terminate the trust if the trustee
928	concludes that the value of the trust property is insufficient
929	to justify the cost of administration.
930	(2)  Upon application of a trustee or any qualified
931	beneficiary, the court may modify or terminate a trust or remove
932	the trustee and appoint a different trustee if the court
933	determines that the value of the trust property is insufficient
934	to justify the cost of administration.
935	(3)  Upon termination of a trust under this section, the
936	trustee shall distribute the trust property in a manner
937	consistent with the purposes of the trust. The trustee may enter
938	into agreements or make such other provisions that the trustee
939	deems necessary or appropriate to protect the interests of the
940	beneficiaries and the trustee and to carry out the intent and
941	purposes of the trust.
942	(4)  The existence of a spendthrift provision in the trust
943	does not make this section inapplicable unless the trust
944	instrument expressly provides that the trustee may not terminate
945	the trust pursuant to this section.
946	(5)  This section does not apply to an easement for
947	conservation or preservation.
948	736.0415  Reformation to correct mistakes.--Upon
949	application of a settlor or any interested person, the court may
950	reform the terms of a trust, even if unambiguous, to conform the
951	terms to the settlor's intent if it is proved by clear and
952	convincing evidence that both the accomplishment of the
953	settlor's intent and the terms of the trust were affected by a
954	mistake of fact or law, whether in expression or inducement. In
955	determining the settlor's original intent, the court may
956	consider evidence relevant to the settlor's intent even though
957	the evidence contradicts an apparent plain meaning of the trust
958	instrument.
959	736.0416  Modification to achieve settlor's tax
960	objectives.--Upon application of any interested person, to
961	achieve the settlor's tax objectives the court may modify the
962	terms of a trust in a manner that is not contrary to the
963	settlor's probable intent. The court may provide that the
964	modification has retroactive effect.
965	736.0417  Combination and division of trusts.--
966	(1)  After notice to the qualified beneficiaries, a trustee
967	may combine two or more trusts into a single trust or divide a
968	trust into two or more separate trusts, if the result does not
969	impair rights of any beneficiary or adversely affect achievement
970	of the purposes of the trusts or trust, respectively.
971	(2)  Subject to the terms of the trust, the trustee may
972	take into consideration differences in federal tax attributes
973	and other pertinent factors in administering the trust property
974	of any separate account or trust, in making applicable tax
975	elections, and in making distributions. A separate trust created
976	by severance must be treated as a separate trust for all
977	purposes from the date on which the severance is effective. The
978	effective date of the severance may be retroactive to a date
979	before the date on which the trustee exercises such power.
980	Section 5.  Part V of chapter 736, Florida Statutes,
981	consisting of sections 736.0501, 736.0502, 736.0503, 736.0504,
982	736.0505, 736.05053, 736.05055, 736.0506, and 736.0507, is
983	created to read:
984
985	PART V
986	CREDITORS' CLAIMS; SPENDTHRIFT AND DISCRETIONARY TRUSTS
987
988	736.0501  Rights of beneficiary's creditor or assignee.--To
989	the extent a beneficiary's interest is not subject to a
990	spendthrift provision, the court may authorize a creditor or
991	assignee of the beneficiary to reach the beneficiary's interest
992	by attachment of present or future distributions to or for the
993	benefit of the beneficiary or by other means. The court may
994	limit the award to such relief as is appropriate under the
995	circumstances.
996	736.0502  Spendthrift provision.--
997	(1)  A spendthrift provision is valid only if the provision
998	restrains both voluntary and involuntary transfer of a
999	beneficiary's interest. This subsection does not apply to any
1000	trust in existence on the effective date of this code.
1001	(2)  A term of a trust providing that the interest of a
1002	beneficiary is held subject to a spendthrift trust, or words of
1003	similar import, is sufficient to restrain both voluntary and
1004	involuntary transfer of the beneficiary's interest.
1005	(3)  A beneficiary may not transfer an interest in a trust
1006	in violation of a valid spendthrift provision and, except as
1007	otherwise provided in this part, a creditor or assignee of the
1008	beneficiary may not reach the interest or a distribution by the
1009	trustee before receipt of the interest or distribution by the
1010	beneficiary.
1011	(4)  A valid spendthrift provision does not prevent the
1012	appointment of interests through the exercise of a power of
1013	appointment.
1014	736.0503  Exceptions to spendthrift provision.--
1015	(1)  As used in this section, the term "child" includes any
1016	person for whom an order or judgment for child support has been
1017	entered in this or any other state.
1018	(2)  To the extent provided in subsection (3), a
1019	spendthrift provision is unenforceable against:
1020	(a)  A beneficiary's child, spouse, or former spouse who
1021	has a judgment or court order against the beneficiary for
1022	support or maintenance.
1023	(b)  A judgment creditor who has provided services for the
1024	protection of a beneficiary's interest in the trust.
1025	(c)  A claim of this state or the United States to the
1026	extent a law of this state or a federal law so provides.
1027	(3)  Except as otherwise provided in this subsection, a
1028	claimant against which a spendthrift provision may not be
1029	enforced may obtain from a court, or pursuant to the Uniform
1030	Interstate Family Support Act, an order attaching present or
1031	future distributions to or for the benefit of the beneficiary.
1032	The court may limit the award to such relief as is appropriate
1033	under the circumstances. Notwithstanding this subsection, the
1034	remedies provided in this subsection apply to a claim by a
1035	beneficiary's child, spouse, former spouse, or a judgment
1036	creditor described in paragraph (2)(a) or paragraph (2)(b) only
1037	as a last resort upon an initial showing that traditional
1038	methods of enforcing the claim are insufficient.
1039	736.0504  Discretionary trusts; effect of standard.--
1040	(1)  Whether or not a trust contains a spendthrift
1041	provision, a creditor of a beneficiary may not compel a
1042	distribution that is subject to the trustee's discretion, even
1043	if:
1044	(a)  The discretion is expressed in the form of a standard
1045	of distribution; or
1046	(b)  The trustee has abused the discretion.
1047	(2)  If the trustee's discretion to make distributions for
1048	the trustee's own benefit is limited by an ascertainable
1049	standard, a creditor may not reach or compel distribution of the
1050	beneficial interest except to the extent the interest would be
1051	subject to the creditor's claim were the beneficiary not acting
1052	as trustee.
1053	(3)  This section does not limit the right of a beneficiary
1054	to maintain a judicial proceeding against a trustee for an abuse
1055	of discretion or failure to comply with a standard for
1056	distribution.
1057	736.0505  Creditors' claims against settlor.--
1058	(1)  Whether or not the terms of a trust contain a
1059	spendthrift provision, the following rules apply:
1060	(a)  The property of a revocable trust is subject to the
1061	claims of the settlor's creditors during the settlor's lifetime
1062	to the extent the property would not otherwise be exempt by law
1063	if owned directly by the settlor.
1064	(b)  With respect to an irrevocable trust, a creditor or
1065	assignee of the settlor may reach the maximum amount that can be
1066	distributed to or for the settlor's benefit. If a trust has more
1067	than one settlor, the amount the creditor or assignee of a
1068	particular settlor may reach may not exceed the settlor's
1069	interest in the portion of the trust attributable to that
1070	settlor's contribution.
1071	(c)  Notwithstanding paragraph (b), the assets of an
1072	irrevocable trust shall not be subject to the claims of an
1073	existing or subsequent creditor or assignee of the settlor, in
1074	whole or in part, solely because of the existence of a
1075	discretionary power granted to the trustee by the terms of the
1076	trust or any other provision of law to pay directly to the
1077	taxing authorities or to reimburse the settlor for any tax on
1078	trust income or principal that is payable by the settlor under
1079	the law imposing such tax.
1080	(2)  For purposes of this section:
1081	(a)  During the period the power may be exercised, the
1082	holder of a power of withdrawal is treated in the same manner as
1083	the settlor of a revocable trust to the extent of the property
1084	subject to the power.
1085	(b)  Upon the lapse, release, or waiver of the power, the
1086	holder is treated as the settlor of the trust only to the extent
1087	the value of the property affected by the lapse, release, or
1088	waiver exceeds the greater of the amount specified in:
1089	1.  Section 2041(b)(2) or s. 2514(e); or
1090	2.  Section 2503(b),
1091
1092	of the Internal Revenue Code of 1986, as amended.
1093	736.05053  Trustee's duty to pay expenses and obligations
1094	of settlor's estate.--
1095	(1)  A trustee of a trust described in s. 733.707(3) shall
1096	pay to the personal representative of a settlor's estate any
1097	amounts that the personal representative certifies in writing to
1098	the trustee are required to pay the expenses of the
1099	administration and obligations of the settlor's estate. Payments
1100	made by a trustee, unless otherwise provided in the trust
1101	instrument, must be charged as expenses of the trust without a
1102	contribution from anyone. The interests of all beneficiaries of
1103	such a trust are subject to the provisions of this subsection;
1104	however, the payments must be made from assets, property, or the
1105	proceeds of the assets or property, other than assets proscribed
1106	in s. 733.707(3), that are included in the settlor's gross
1107	estate for federal estate tax purposes.
1108	(2)  Unless a settlor provides by will, or designates in a
1109	trust described in s. 733.707(3) funds or property passing under
1110	the trust to be used as designated, the expenses of the
1111	administration and obligations of the settlor's estate must be
1112	paid from the trust in the following order:
1113	(a)  Property of the residue of the trust remaining after
1114	all distributions that are to be satisfied by reference to a
1115	specific property or type of property, fund, or sum.
1116	(b)  Property that is not to be distributed from specified
1117	or identified property or a specified or identified item of
1118	property.
1119	(c)  Property that is to be distributed from specified or
1120	identified property or a specified or identified item of
1121	property.
1122	(3)  Trust distributions that are to be satisfied from
1123	specified or identified property must be classed as
1124	distributions to be satisfied from the general assets of the
1125	trust and not otherwise disposed of in the trust instrument on
1126	the failure or insufficiency of funds or property from which
1127	payment should be made, to the extent of the insufficiency.
1128	Trust distributions given for valuable consideration abate with
1129	other distributions of the same class only to the extent of the
1130	excess over the value of the consideration until all others of
1131	the same class are exhausted. Except as provided in this
1132	section, trust distributions abate equally and ratably and
1133	without preference or priority between real and personal
1134	property. When a specified or identified item of property that
1135	has been designated for distribution in the trust instrument or
1136	that is charged with a distribution is sold or taken by the
1137	trustee, other beneficiaries shall contribute according to their
1138	respective interests to the beneficiary whose property has been
1139	sold or taken. Before distribution, the trustee shall determine
1140	the amounts of the respective contributions and such amounts
1141	must be paid or withheld before distribution is made.
1142	(4)  The trustee shall pay the expenses of trust
1143	administration, including compensation of trustees and attorneys
1144	of the trustees, before and in preference to the expenses of the
1145	administration and obligations of the settlor's estate.
1146	736.05055  Notice of trust.--
1147	(1)  Upon the death of a settlor of a trust described in s.
1148	733.707(3), the trustee must file a notice of trust with the
1149	court of the county of the settlor's domicile and the court
1150	having jurisdiction of the settlor's estate.
1151	(2)  The notice of trust must contain the name of the
1152	settlor, the settlor's date of death, the title of the trust, if
1153	any, the date of the trust, and the name and address of the
1154	trustee.
1155	(3)  If the settlor's probate proceeding has been
1156	commenced, the clerk shall notify the trustee in writing of the
1157	date of the commencement of the probate proceeding and the file
1158	number.
1159	(4)  The clerk shall file and index the notice of trust in
1160	the same manner as a caveat unless there exists a probate
1161	proceeding for the settlor's estate, in which case the notice of
1162	trust must be filed in the probate proceeding and the clerk
1163	shall send a copy to the personal representative.
1164	(5)  The clerk shall send a copy of any caveat filed
1165	regarding the settlor to the trustee, and the notice of trust to
1166	any caveator, unless there is a probate proceeding pending and
1167	the personal representative and the trustee are the same.
1168	(6)  Any proceeding affecting the expenses of the
1169	administration or obligations of the settlor's estate prior to
1170	the trustee filing a notice of trust are binding on the trustee.
1171	(7)  The trustee's failure to file the notice of trust does
1172	not affect the trustee's obligation to pay expenses of
1173	administration and obligations of the settlor's estate as
1174	provided in s. 733.607(2).
1175	736.0506  Overdue distribution.--
1176	(1)  As used in this section, the term "mandatory
1177	distribution" means a distribution of income or principal the
1178	trustee is required to make to a beneficiary under the terms of
1179	the trust, including a distribution on termination of the trust.
1180	The term does not include a distribution subject to the exercise
1181	of the trustee's discretion even if:
1182	(a)  The discretion is expressed in the form of a standard
1183	of distribution; or
1184	(b)  The terms of the trust authorizing a distribution
1185	couple language of discretion with language of direction.
1186	(2)  A creditor or assignee of a beneficiary may reach a
1187	mandatory distribution of income or principal, including a
1188	distribution upon termination of the trust, if the trustee has
1189	not made the distribution to the beneficiary within a reasonable
1190	time after the designated distribution date, whether or not a
1191	trust contains a spendthrift provision.
1192	736.0507  Personal obligations of trustee.--Except to the
1193	extent of the trustee's interest in the trust other than as a
1194	trustee, trust property is not subject to personal obligations
1195	of the trustee, even if the trustee becomes insolvent or
1196	bankrupt.
1197	Section 6.  Part VI of chapter 736, Florida Statutes,
1198	consisting of sections 736.0601, 736.0602, 736.0603, and
1199	736.0604, is created to read:
1200
1201	PART VI
1202	REVOCABLE TRUSTS
1203
1204	736.0601  Capacity of settlor of revocable trust.--The
1205	capacity required to create, amend, revoke, or add property to a
1206	revocable trust, or to direct the actions of the trustee of a
1207	revocable trust, is the same as that required to make a will.
1208	736.0602  Revocation or amendment of revocable trust.--
1209	(1)  Unless the terms of a trust expressly provide that the
1210	trust is irrevocable, the settlor may revoke or amend the trust.
1211	This subsection does not apply to a trust created under an
1212	instrument executed before the effective date of this code.
1213	(2)  If a revocable trust is created or funded by more than
1214	one settlor:
1215	(a)  To the extent the trust consists of community
1216	property, the trust may be revoked by either spouse acting alone
1217	but may be amended only by joint action of both spouses.
1218	(b)  To the extent the trust consists of property other
1219	than community property, each settlor may revoke or amend the
1220	trust with regard to the portion of the trust property
1221	attributable to that settlor's contribution.
1222	(c)  Upon the revocation or amendment of the trust by fewer
1223	than all of the settlors, the trustee shall promptly notify the
1224	other settlors of the revocation or amendment.
1225	(3)  Subject to s. 736.0403(2), the settlor may revoke or
1226	amend a revocable trust:
1227	(a)  By substantial compliance with a method provided in
1228	the terms of the trust; or
1229	(b)  If the terms of the trust do not provide a method, by:
1230	1.  A later will or codicil that expressly refers to the
1231	trust or specifically devises property that would otherwise have
1232	passed according to the terms of the trust; or
1233	2.  Any other method manifesting clear and convincing
1234	evidence of the settlor's intent.
1235	(4)  Upon revocation of a revocable trust, the trustee
1236	shall deliver the trust property as the settlor directs.
1237	(5)  A settlor's powers with respect to revocation,
1238	amendment, or distribution of trust property may be exercised by
1239	an agent under a power of attorney only as authorized by s.
1240	709.08.
1241	(6)  A guardian of the property of the settlor may exercise
1242	a settlor's powers with respect to revocation, amendment, or
1243	distribution of trust property only as provided in s. 744.441.
1244	(7)  A trustee who does not know that a trust has been
1245	revoked or amended is not liable for distributions made and
1246	other actions taken on the assumption that the trust had not
1247	been amended or revoked.
1248	736.0603  Settlor's powers; powers of withdrawal.--
1249	(1)  While a trust is revocable, the duties of the trustee
1250	are owed exclusively to the settlor.
1251	(2)  During the period the power may be exercised, the
1252	holder of a power of withdrawal has the rights of a settlor of a
1253	revocable trust under this section to the extent of the property
1254	subject to the power.
1255	736.0604  Limitation on action contesting validity of
1256	revocable trust.--An action to contest the validity of a trust
1257	that was revocable at the settlor's death is barred, if not
1258	commenced within the earlier of:
1259	(1)  The time as provided in chapter 95; or
1260	(2)  Six months after the trustee sent the person a copy of
1261	the trust instrument and a notice informing the person of the
1262	trust's existence, of the trustee's name and address, and of the
1263	time allowed for commencing a proceeding.
1264	Section 7.  Part VII of chapter 736, Florida Statutes,
1265	consisting of sections 736.0701, 736.0702, 736.0703, 736.0704,
1266	736.0705, 736.0706, 736.0707, 736.0708, and 736.0709, is created
1267	to read:
1268
1269	PART VII
1270	OFFICE OF TRUSTEE
1271
1272	736.0701  Accepting or declining trusteeship.--
1273	(1)  Except as otherwise provided in subsection (3), a
1274	person designated as trustee accepts the trusteeship:
1275	(a)  By substantially complying with a method of acceptance
1276	provided in the terms of the trust; or
1277	(b)  If the terms of the trust do not provide a method or
1278	the method provided in the terms is not expressly made
1279	exclusive, by accepting delivery of the trust property,
1280	exercising powers or performing duties as trustee, or otherwise
1281	indicating acceptance of the trusteeship.
1282	(2)  A person designated as trustee who has not accepted
1283	the trusteeship may decline the trusteeship. A designated
1284	trustee who does not accept the trusteeship within a reasonable
1285	time after knowing of the designation is deemed to have declined
1286	the trusteeship.
1287	(3)  A person designated as trustee may, without accepting
1288	the trusteeship:
1289	(a)  Act to preserve the trust property if, within a
1290	reasonable time after acting, the person sends to a qualified
1291	beneficiary a written statement declining the trusteeship.
1292	(b)  Inspect or investigate trust property to determine
1293	potential liability under environmental or other law or for any
1294	other purpose.
1295	736.0702  Trustee's bond.--
1296	(1)  A trustee shall give bond to secure performance of the
1297	trustee's duties only if the court finds that a bond is needed
1298	to protect the interests of the beneficiaries or is required by
1299	the terms of the trust and the court has not dispensed with the
1300	requirement.
1301	(2)  The court may specify the amount of a bond, the
1302	trustee's liabilities under the bond, and whether sureties are
1303	necessary. The court may modify or terminate a bond at any time.
1304	736.0703  Cotrustees.--
1305	(1)  Cotrustees who are unable to reach a unanimous
1306	decision may act by majority decision.
1307	(2)  If a vacancy occurs in a cotrusteeship, the remaining
1308	cotrustees or a majority of the remaining cotrustees may act for
1309	the trust.
1310	(3)  A cotrustee must participate in the performance of a
1311	trustee's function unless the cotrustee is unavailable to
1312	perform the function because of absence, illness,
1313	disqualification under other provision of law, or other
1314	temporary incapacity or the cotrustee has properly delegated the
1315	performance of the function to another cotrustee.
1316	(4)  If a cotrustee is unavailable to perform duties
1317	because of absence, illness, disqualification under other law,
1318	or other temporary incapacity, and prompt action is necessary to
1319	achieve the purposes of the trust or to avoid injury to the
1320	trust property, the remaining cotrustee or a majority of the
1321	remaining cotrustees may act for the trust.
1322	(5)  A cotrustee may not delegate to another cotrustee the
1323	performance of a function the settlor reasonably expected the
1324	cotrustees to perform jointly. A cotrustee may revoke a
1325	delegation previously made.
1326	(6)  Except as otherwise provided in subsection (7), a
1327	cotrustee who does not join in an action of another cotrustee is
1328	not liable for the action.
1329	(7)  Each cotrustee shall exercise reasonable care to:
1330	(a)  Prevent a cotrustee from committing a breach of trust.
1331	(b)  Compel a cotrustee to redress a breach of trust.
1332	(8)  A dissenting cotrustee who joins in an action at the
1333	direction of the majority of the cotrustees and who notifies any
1334	cotrustee of the dissent at or before the time of the action is
1335	not liable for the action.
1336	736.0704  Vacancy in trusteeship; appointment of
1337	successor.--
1338	(1)  A vacancy in a trusteeship occurs if:
1339	(a)  A person designated as trustee declines the
1340	trusteeship;
1341	(b)  A person designated as trustee cannot be identified or
1342	does not exist;
1343	(c)  A trustee resigns;
1344	(d)  A trustee is disqualified or removed;
1345	(e)  A trustee dies; or
1346	(f)  A trustee is adjudicated to be incapacitated.
1347	(2)  If one or more cotrustees remain in office, a vacancy
1348	in a trusteeship need not be filled. A vacancy in a trusteeship
1349	must be filled if the trust has no remaining trustee.
1350	(3)  A vacancy in a trusteeship of a noncharitable trust
1351	that is required to be filled must be filled in the following
1352	order of priority:
1353	(a)  By a person named or designated pursuant to the terms
1354	of the trust to act as successor trustee.
1355	(b)  By a person appointed by unanimous agreement of the
1356	qualified beneficiaries.
1357	(c)  By a person appointed by the court.
1358	(4)  A vacancy in a trusteeship of a charitable trust that
1359	is required to be filled must be filled in the following order
1360	of priority:
1361	(a)  By a person named or designated pursuant to the terms
1362	of the trust to act as successor trustee.
1363	(b)  By a person selected by unanimous agreement of the
1364	charitable organizations expressly designated to receive
1365	distributions under the terms of the trust.
1366	(c)  By a person appointed by the court.
1367	(5)  The court may appoint an additional trustee or special
1368	fiduciary whenever the court considers the appointment necessary
1369	for the administration of the trust, whether or not a vacancy in
1370	a trusteeship exists or is required to be filled.
1371	736.0705  Resignation of trustee.--
1372	(1)  A trustee may resign:
1373	(a)  Upon at least 30 days' notice to the qualified
1374	beneficiaries, the settlor, if living, and all cotrustees; or
1375	(b)  With the approval of the court.
1376	(2)  In approving a resignation, the court may issue orders
1377	and impose conditions reasonably necessary for the protection of
1378	the trust property.
1379	(3)  Any liability of a resigning trustee or of any
1380	sureties on the trustee's bond for acts or omissions of the
1381	trustee is not discharged or affected by the trustee's
1382	resignation.
1383	736.0706  Removal of trustee.--
1384	(1)  The settlor, a cotrustee, or a beneficiary may request
1385	the court to remove a trustee or a trustee may be removed by the
1386	court on the court's own initiative.
1387	(2)  The court may remove a trustee if:
1388	(a)  The trustee has committed a serious breach of trust;
1389	(b)  The lack of cooperation among cotrustees substantially
1390	impairs the administration of the trust;
1391	(c)  Due to the unfitness, unwillingness, or persistent
1392	failure of the trustee to administer the trust effectively, the
1393	court determines that removal of the trustee best serves the
1394	interests of the beneficiaries; or
1395	(d)  There has been a substantial change of circumstances
1396	or removal is requested by all of the qualified beneficiaries,
1397	the court finds that removal of the trustee best serves the
1398	interests of all of the beneficiaries and is not inconsistent
1399	with a material purpose of the trust, and a suitable cotrustee
1400	or successor trustee is available.
1401	(3)  Pending a final decision on a request to remove a
1402	trustee, or in lieu of or in addition to removing a trustee, the
1403	court may order such appropriate relief under s. 736.1001(2) as
1404	may be necessary to protect the trust property or the interests
1405	of the beneficiaries.
1406	736.0707  Delivery of property by former trustee.--
1407	(1)  Unless a cotrustee remains in office or the court
1408	otherwise orders and until the trust property is delivered to a
1409	successor trustee or other person entitled to the property, a
1410	trustee who has resigned or been removed has the duties of a
1411	trustee and the powers necessary to protect the trust property.
1412	(2)  A trustee who has resigned or been removed shall
1413	within a reasonable time deliver the trust property within the
1414	trustee's possession to the cotrustee, successor trustee, or
1415	other person entitled to the property, subject to the right of
1416	the trustee to retain a reasonable reserve for the payment of
1417	debts, expenses, and taxes. The provisions of this subsection
1418	are in addition to and are not in derogation of the rights of a
1419	removed or resigning trustee under the common law.
1420	736.0708  Compensation of trustee.--
1421	(1)  If the terms of a trust do not specify the trustee's
1422	compensation, a trustee is entitled to compensation that is
1423	reasonable under the circumstances.
1424	(2)  If the terms of a trust specify the trustee's
1425	compensation, the trustee is entitled to be compensated as
1426	specified but the court may allow more or less compensation if:
1427	(a)  The duties of the trustee are substantially different
1428	from those contemplated when the trust was created; or
1429	(b)  The compensation specified by the terms of the trust
1430	would be unreasonably low or high.
1431	(3)  If the trustee has rendered other services in
1432	connection with the administration of the trust, the trustee
1433	shall also be allowed reasonable compensation for the other
1434	services rendered in addition to reasonable compensation as
1435	trustee.
1436	736.0709  Reimbursement of expenses.--
1437	(1)  A trustee is entitled to be reimbursed out of the
1438	trust property, with interest as appropriate, for reasonable
1439	expenses that were properly incurred in the administration of
1440	the trust.
1441	(2)  An advance by the trustee of money for the protection
1442	of the trust gives rise to a lien against trust property to
1443	secure reimbursement with reasonable interest.
1444	Section 8.  Part VIII of chapter 736, Florida Statutes,
1445	consisting of sections 736.0801, 736.0802, 736.0803, 736.0804,
1446	736.0805, 736.0806, 736.0807, 736.0808, 736.0809, 736.0810,
1447	736.08105, 736.0811, 736.0812, 736.08125, 736.0813, 736.08135,
1448	736.0814, 736.08147, 736.0815, 736.0816, 736.08163, 736.08165,
1449	and 736.0817, is created to read:
1450
1451	PART VIII
1452	DUTIES AND POWERS OF TRUSTEE
1453
1454	736.0801  Duty to administer trust.--Upon acceptance of a
1455	trusteeship, the trustee shall administer the trust in good
1456	faith, in accordance with its terms and purposes and the
1457	interests of the beneficiaries, and in accordance with this
1458	code.
1459	736.0802  Duty of loyalty.--
1460	(1)  As between a trustee and the beneficiaries, a trustee
1461	shall administer the trust solely in the interests of the
1462	beneficiaries.
1463	(2)  Subject to the rights of persons dealing with or
1464	assisting the trustee as provided in s. 736.1016, a sale,
1465	encumbrance, or other transaction involving the investment or
1466	management of trust property entered into by the trustee for the
1467	trustee's own personal account or which is otherwise affected by
1468	a conflict between the trustee's fiduciary and personal
1469	interests is voidable by a beneficiary affected by the
1470	transaction unless:
1471	(a)  The transaction was authorized by the terms of the
1472	trust;
1473	(b)  The transaction was approved by the court;
1474	(c)  The beneficiary did not commence a judicial proceeding
1475	within the time allowed by s. 736.1008;
1476	(d)  The beneficiary consented to the trustee's conduct,
1477	ratified the transaction, or released the trustee in compliance
1478	with s. 736.1012;
1479	(e)  The transaction involves a contract entered into or
1480	claim acquired by the trustee when that person had not become or
1481	contemplated becoming trustee; or
1482	(f)  The transaction was consented to in writing by a
1483	settlor of the trust while the trust was revocable.
1484	(3)  A sale, encumbrance, or other transaction involving
1485	the investment or management of trust property is presumed to be
1486	affected by a conflict between personal and fiduciary interests
1487	if the sale, encumbrance, or other transaction is entered into
1488	by the trustee with:
1489	(a)  The trustee's spouse;
1490	(b)  The trustee's descendants, siblings, parents, or their
1491	spouses;
1492	(c)  An officer, director, employee, agent, or attorney of
1493	the trustee; or
1494	(d)  A corporation or other person or enterprise in which
1495	the trustee, or a person that owns a significant interest in the
1496	trustee, has an interest that might affect the trustee's best
1497	judgment.
1498	(4)  A transaction not concerning trust property in which
1499	the trustee engages in the trustee's individual capacity
1500	involves a conflict between personal and fiduciary interests if
1501	the transaction concerns an opportunity properly belonging to
1502	the trust.
1503	(5)(a)  An investment by a trustee authorized by lawful
1504	authority to engage in trust business, as defined in s.
1505	658.12(20), in investment instruments, as defined in s.
1506	660.25(6), that are owned or controlled by the trustee or its
1507	affiliate, or from which the trustee or its affiliate receives
1508	compensation for providing services in a capacity other than as
1509	trustee, is not presumed to be affected by a conflict between
1510	personal and fiduciary interests provided the investment
1511	otherwise complies with chapters 518 and 660 and the trustee
1512	complies with the disclosure requirements of this subsection.
1513	(b)  A trustee who invests trust funds in investment
1514	instruments that are owned or controlled by the trustee or its
1515	affiliate shall disclose the following to all qualified
1516	beneficiaries:
1517	1.  Notice that the trustee has invested trust funds in
1518	investment instruments owned or controlled by the trustee or its
1519	affiliate.
1520	2.  The identity of the investment instruments.
1521	3.  The identity and relationship to the trustee of any
1522	affiliate that owns or controls the investment instruments.
1523	(c)  A trustee who invests trust funds in investment
1524	instruments with respect to which the trustee or its affiliate
1525	receives compensation for providing services in a capacity other
1526	than as trustee shall disclose to all qualified beneficiaries
1527	the nature of the services provided by the trustee or its
1528	affiliate and all compensation, including, but not limited to,
1529	fees or commissions, paid or to be paid by the account and
1530	received or to be received by an affiliate arising from such
1531	affiliated investment.
1532	(d)  Disclosure required by this subsection shall be made
1533	at least annually unless there has been no change in the method
1534	or increase in the rate at which such compensation is calculated
1535	since the most recent disclosure. The disclosure may be given in
1536	a trust disclosure document as defined in s. 736.1008, in a copy
1537	of the prospectus for the investment instrument, in any other
1538	written disclosure prepared for the investment instrument under
1539	applicable federal or state law, or in a written summary that
1540	includes all compensation received or to be received by the
1541	trustee and any affiliate of the trustee and an explanation of
1542	the manner in which such compensation is calculated, either as a
1543	percentage of the assets invested or by some other method.
1544	(e)  This subsection shall apply as follows:
1545	1.  This subsection does not apply to qualified investment
1546	instruments or to a trust for which a right of revocation
1547	exists.
1548	2.  For investment instruments other than qualified
1549	investment instruments, paragraphs (a), (b), (c), and (d) shall
1550	apply to irrevocable trusts created on or after July 1, 2007,
1551	that expressly authorize the trustee, by specific reference to
1552	this subsection, to invest in investment instruments owned or
1553	controlled by the trustee or its affiliate.
1554	3.  For investment instruments other than qualified
1555	investment instruments, paragraphs (a), (b), (c), and (d) shall
1556	apply to irrevocable trusts not described in subparagraph 2.
1557	only as follows:
1558	a.  Such paragraphs shall not apply until 60 days after the
1559	statement required in paragraph (f) is provided and no objection
1560	is made or any objection which is made has been terminated.
1561	(I)  An objection is made if, within 60 days after the date
1562	of the statement required in paragraph (f), a super majority of
1563	the eligible beneficiaries deliver to the trustee written
1564	objections to the application of this subsection to such trust.
1565	An objection shall be deemed to be delivered to the trustee on
1566	the date the objection is mailed to the mailing address listed
1567	in the notice provided in paragraph (f).
1568	(II)  An objection is terminated upon the earlier of the
1569	receipt of consent from a super majority of eligible
1570	beneficiaries of the class that made the objection or the
1571	resolution of the objection pursuant to this subparagraph.
1572	(III)  If an objection is delivered to the trustee, the
1573	trustee may petition the court for an order overruling the
1574	objection and authorizing the trustee to make investments under
1575	this subsection. The burden shall be on the trustee to show good
1576	cause for the relief sought.
1577	(IV)  Any qualified beneficiary may petition the court for
1578	an order to prohibit, limit, or restrict a trustee's authority
1579	to make investments under this subsection. The burden shall be
1580	upon the petitioning beneficiary to show good cause for the
1581	relief sought.
1582	(V)  The court may award costs and attorney's fees relating
1583	to any petition under this subparagraph in the same manner as in
1584	chancery actions. When costs and attorney's fees are to be paid
1585	out of the trust, the court, in its discretion, may direct from
1586	which part of the trust such costs and fees shall be paid.
1587	b.  The objection of a super majority of eligible
1588	beneficiaries under this subparagraph may thereafter be removed
1589	by the written consent of a super majority of the class or
1590	classes of those eligible beneficiaries that made the objection.
1591	(f)1.  Any time prior to initially investing in any
1592	investment instrument described in this subsection other than a
1593	qualified investment instrument, the trustee of a trust
1594	described in subparagraph (e)3. shall provide to all qualified
1595	beneficiaries a statement containing the following:
1596	a.  The name, telephone number, street address, and mailing
1597	address of the trustee and of any individuals who may be
1598	contacted for further information.
1599	b.  A statement that, unless a super majority of the
1600	eligible beneficiaries objects to the application of this
1601	subsection to the trust within 60 days after the date the
1602	statement pursuant to this subsection was delivered, this
1603	subsection shall apply to the trust.
1604	c.  A statement that, if this subsection applies to the
1605	trust, the trustee will have the right to make investments in
1606	investment instruments, as defined in s. 660.25(6), that are
1607	owned or controlled by the trustee or its affiliate, or from
1608	which the trustee or its affiliate receives compensation for
1609	providing services in a capacity other than as trustee, and that
1610	the trustee or its affiliate may receive fees in addition to the
1611	trustee's compensation for administering the trust.
1612
1613	A statement by the trustee is not delivered if the statement is
1614	accompanied by another written communication other than a
1615	written communication by the trustee that refers only to the
1616	statement.
1617	2.  For purposes of paragraph (e) and this paragraph:
1618	a.  "Eligible beneficiaries" means:
1619	(I)  If at the time the determination is made there are one
1620	or more beneficiaries as described in s. 736.0103(14)(c), the
1621	beneficiaries described in s. 736.0103(14)(a) and (c); or
1622	(II)  If there is no beneficiary described in s.
1623	736.0103(14)(c), the beneficiaries described in s.
1624	736.0103(14)(a) and (b).
1625	b.  "Super majority of the eligible beneficiaries" means:
1626	(I)  If at the time the determination is made there are one
1627	or more beneficiaries as described in s. 736.0103(14)(c), at
1628	least two-thirds in interest of the beneficiaries described in
1629	s. 736.0103(14)(a) or two-thirds in interest of the
1630	beneficiaries described in s. 736.0103(14)(c), if the interests
1631	of the beneficiaries are reasonably ascertainable; otherwise,
1632	two-thirds in number of either such class; or
1633	(II)  If there is no beneficiary as described in s.
1634	736.0103(14)(c), at least two-thirds in interest of the
1635	beneficiaries described in s. 736.0103(14)(a) or two-thirds in
1636	interest of the beneficiaries described in s. 736.0103(14)(b),
1637	if the interests of the beneficiaries are reasonably
1638	ascertainable; otherwise, two-thirds in number of either such
1639	class.
1640	c.  "Qualified investment instrument" means a mutual fund,
1641	common trust fund, or money market fund described in and
1642	governed by s. 736.0816(3).
1643	d.  An irrevocable trust is created upon execution of the
1644	trust instrument. If a trust that was revocable when created
1645	thereafter becomes irrevocable, the irrevocable trust is created
1646	when the right of revocation terminates.
1647	(g)  Nothing in this chapter is intended to create or imply
1648	a duty for the trustee to seek the application of this
1649	subsection to invest in investment instruments described in
1650	paragraph (a), and no inference of impropriety shall be made as
1651	a result of a trustee electing not to invest trust assets in
1652	investment instruments described in paragraph (a).
1653	(6)  In voting shares of stock or in exercising powers of
1654	control over similar interests in other forms of enterprise, the
1655	trustee shall act in the best interests of the beneficiaries. If
1656	the trust is the sole owner of a corporation or other form of
1657	enterprise, the trustee shall elect or appoint directors or
1658	other managers who will manage the corporation or enterprise in
1659	the best interests of the beneficiaries.
1660	(7)  This section does not preclude the following
1661	transactions, if fair to the beneficiaries:
1662	(a)  An agreement between a trustee and a beneficiary
1663	relating to the appointment or compensation of the trustee;
1664	(b)  A payment of reasonable compensation to the trustee;
1665	(c)  A transaction between a trust and another trust, the
1666	decedent's estate, or a guardian of the property of which the
1667	trustee is a fiduciary or in which a beneficiary has an
1668	interest;
1669	(d)  A deposit of trust money in a regulated financial-
1670	service institution operated by the trustee; or
1671	(e)  An advance by the trustee of money for the protection
1672	of the trust.
1673	(8)  This section does not preclude the employment of
1674	persons, including, but not limited to, attorneys, accountants,
1675	investment advisers, or agents, even if they are the trustee, an
1676	affiliate of the trustee, or otherwise associated with the
1677	trustee, to advise or assist the trustee in the exercise of any
1678	of the trustee's powers and to pay reasonable compensation and
1679	costs incurred in connection with such employment from the
1680	assets of the trust; to act without independent investigation on
1681	their recommendations; and, instead of acting personally, to
1682	employ one or more agents to perform any act of administration,
1683	whether or not discretionary.
1684	(9)  The court may appoint a special fiduciary to act with
1685	respect to any proposed transaction that might violate this
1686	section if entered into by the trustee.
1687	(10)  Payment of costs or attorney's fees incurred in any
1688	trust proceeding from the assets of the trust may be made by the
1689	trustee without the approval of any person and without court
1690	authorization, except that court authorization shall be required
1691	if an action has been filed or defense asserted against the
1692	trustee based upon a breach of trust. Court authorization is not
1693	required if the action or defense is later withdrawn or
1694	dismissed by the party that is alleging a breach of trust or
1695	resolved without a determination by the court that the trustee
1696	has committed a breach of trust.
1697	736.0803  Impartiality.--If a trust has two or more
1698	beneficiaries, the trustee shall act impartially in
1699	administering the trust property, giving due regard to the
1700	beneficiaries' respective interests.
1701	736.0804  Prudent administration.--A trustee shall
1702	administer the trust as a prudent person would, by considering
1703	the purposes, terms, distribution requirements, and other
1704	circumstances of the trust. In satisfying this standard, the
1705	trustee shall exercise reasonable care, skill, and caution.
1706	736.0805  Expenses of administration.--In administering a
1707	trust, the trustee shall only incur expenses that are reasonable
1708	in relation to the trust property, the purposes of the trust,
1709	and the skills of the trustee.
1710	736.0806  Trustee's skills.--A trustee who has special
1711	skills or expertise, or is named trustee in reliance on the
1712	trustee's representation that the trustee has special skills or
1713	expertise, shall use those special skills or expertise.
1714	736.0807  Delegation by trustee.--
1715	(1)  A trustee may delegate duties and powers that a
1716	prudent trustee of comparable skills could properly delegate
1717	under the circumstances. The trustee shall exercise reasonable
1718	care, skill, and caution in:
1719	(a)  Selecting an agent.
1720	(b)  Establishing the scope and terms of the delegation,
1721	consistent with the purposes and terms of the trust.
1722	(c)  Reviewing the agent's actions periodically, in order
1723	to monitor the agent's performance and compliance with the terms
1724	of the delegation.
1725	(2)  In performing a delegated function, an agent owes a
1726	duty to the trust to exercise reasonable care to comply with the
1727	terms of the delegation.
1728	(3)  A trustee who complies with subsection (1) is not
1729	liable to the beneficiaries or to the trust for an action of the
1730	agent to whom the function was delegated.
1731	(4)  By accepting a delegation of powers or duties from the
1732	trustee of a trust that is subject to the law of this state, an
1733	agent submits to the jurisdiction of the courts of this state.
1734	736.0808  Powers to direct.--
1735	(1)  Subject to ss. 736.0403(2) and 736.0602(3)(a), the
1736	trustee may follow a direction of the settlor that is contrary
1737	to the terms of the trust while a trust is revocable.
1738	(2)  If the terms of a trust confer on a person other than
1739	the settlor of a revocable trust, the power to direct certain
1740	actions of the trustee, the trustee shall act in accordance with
1741	an exercise of the power unless the attempted exercise is
1742	manifestly contrary to the terms of the trust or the trustee
1743	knows the attempted exercise would constitute a serious breach
1744	of a fiduciary duty that the person holding the power owes to
1745	the beneficiaries of the trust.
1746	(3)  The terms of a trust may confer on a trustee or other
1747	person a power to direct the modification or termination of the
1748	trust.
1749	(4)  A person, other than a beneficiary, who holds a power
1750	to direct is presumptively a fiduciary who, as such, is required
1751	to act in good faith with regard to the purposes of the trust
1752	and the interests of the beneficiaries. The holder of a power to
1753	direct is liable for any loss that results from breach of a
1754	fiduciary duty.
1755	736.0809  Control and protection of trust property.--A
1756	trustee shall take reasonable steps to take control of and
1757	protect the trust property.
1758	736.0810  Recordkeeping and identification of trust
1759	property.--
1760	(1)  A trustee shall keep clear, distinct, and accurate
1761	records of the administration of the trust.
1762	(2)  A trustee shall keep trust property separate from the
1763	trustee's own property.
1764	(3)  Except as otherwise provided in subsection (4), a
1765	trustee shall cause the trust property to be designated so that
1766	the interest of the trust, to the extent feasible, appears in
1767	records maintained by a party other than a trustee or
1768	beneficiary.
1769	(4)  If the trustee maintains records clearly indicating
1770	the respective interests, a trustee may invest as a whole the
1771	property of two or more separate trusts.
1772	736.08105  Duty to ascertain marketable title of trust real
1773	property.--A trustee holding title to real property received
1774	from a settlor or estate shall not be required to obtain title
1775	insurance or proof of marketable title until a marketable title
1776	is required for a sale or conveyance of the real property.
1777	736.0811  Enforcement and defense of claims.--A trustee
1778	shall take reasonable steps to enforce claims of the trust and
1779	to defend claims against the trust.
1780	736.0812  Collecting trust property.--A trustee shall take
1781	reasonable steps to compel a former trustee or other person to
1782	deliver trust property to the trustee and, except as provided in
1783	s. 736.08125, to redress a breach of trust known to the trustee
1784	to have been committed by a former trustee.
1785	736.08125  Protection of successor trustees.--
1786	(1)  A successor trustee is not personally liable for
1787	actions taken by any prior trustee, nor does any successor
1788	trustee have a duty to institute any proceeding against any
1789	prior trustee, or file any claim against any prior trustee's
1790	estate, for any of the prior trustee's actions as trustee under
1791	any of the following circumstances:
1792	(a)  As to a successor trustee who succeeds a trustee who
1793	was also the settlor of a trust that was revocable during the
1794	time that the settlor served as trustee;
1795	(b)  As to any beneficiary who has waived any accounting
1796	required by s. 736.0813, but only as to the periods included in
1797	the waiver;
1798	(c)  As to any beneficiary who has released the successor
1799	trustee from the duty to institute any proceeding or file any
1800	claim;
1801	(d)  As to any person who is not an eligible beneficiary;
1802	or
1803	(e)  As to any eligible beneficiary:
1804	1.  If a supermajority of the eligible beneficiaries have
1805	released the successor trustee;
1806	2.  If the eligible beneficiary has not delivered a written
1807	request to the successor trustee to institute an action or file
1808	a claim against the prior trustee within 6 months after the date
1809	of the successor trustee's acceptance of the trust, if the
1810	successor trustee has notified the eligible beneficiary in
1811	writing of acceptance by the successor trustee in accordance
1812	with 736.0813(1)(a) and that writing advises the beneficiary
1813	that, unless the beneficiary delivers the written request within
1814	6 months after the date of acceptance, the right to proceed
1815	against the successor trustee will be barred pursuant to this
1816	section; or
1817	3.  For any action or claim that the eligible beneficiary
1818	is barred from bringing against the prior trustee.
1819	(2)  For the purposes of this section, the term:
1820	(a)  "Eligible beneficiaries" means:
1821	1.  At the time the determination is made, if there are one
1822	or more beneficiaries as described in s. 736.0103(14)(c), the
1823	beneficiaries described in s. 736.0103(14)(a) and (c); or
1824	2.  If there is no beneficiary as described in s.
1825	736.0103(14)(c), the beneficiaries described in s.
1826	736.0103(14)(a) and (b).
1827	(b)  "Supermajority of eligible beneficiaries" means at
1828	least two-thirds in interest of the eligible beneficiaries if
1829	the interests of the eligible beneficiaries are reasonably
1830	ascertainable, otherwise, at least two-thirds in number of the
1831	eligible beneficiaries.
1832	(3)  Nothing in this section affects any liability of the
1833	prior trustee or the right of the successor trustee or any
1834	beneficiary to pursue an action or claim against the prior
1835	trustee.
1836	736.0813  Duty to inform and account.--The trustee shall
1837	keep the qualified beneficiaries of the trust reasonably
1838	informed of the trust and its administration.
1839	(1)  The trustee's duty to inform and account includes, but
1840	is not limited to, the following:
1841	(a)  Within 60 days after acceptance of the trust, the
1842	trustee shall give notice to the qualified beneficiaries of the
1843	acceptance of the trust and the full name and address of the
1844	trustee.
1845	(b)  Within 60 days after the date the trustee acquires
1846	knowledge of the creation of an irrevocable trust, or the date
1847	the trustee acquires knowledge that a formerly revocable trust
1848	has become irrevocable, whether by the death of the settlor or
1849	otherwise, the trustee shall give notice to the qualified
1850	beneficiaries of the trust's existence, the identity of the
1851	settlor or settlors, the right to request a copy of the trust
1852	instrument, and the right to accountings under this section.
1853	(c)  Upon reasonable request, the trustee shall provide a
1854	qualified beneficiary with a complete copy of the trust
1855	instrument.
1856	(d)  A trustee of an irrevocable trust shall provide a
1857	trust accounting, as set forth in s. 736.08135, to each
1858	qualified beneficiary annually and on termination of the trust
1859	or on change of the trustee.
1860	(e)  Upon reasonable request, the trustee shall provide a
1861	qualified beneficiary with relevant information about the assets
1862	and liabilities of the trust and the particulars relating to
1863	administration.
1864
1865	Paragraphs (a) and (b) do not apply to an irrevocable trust
1866	created before the effective date of this code, or to a
1867	revocable trust that becomes irrevocable before the effective
1868	date of this code. Paragraph (a) does not apply to a trustee who
1869	accepts a trusteeship before the effective date of this code.
1870	(2)  A qualified beneficiary may waive the trustee's duty
1871	to account under paragraph (1)(d). A qualified beneficiary may
1872	withdraw a waiver previously given. Waivers and withdrawals of
1873	prior waivers under this subsection must be in writing.
1874	Withdrawals of prior waivers are effective only with respect to
1875	accountings for future periods.
1876	(3)  The representation provisions of part III apply with
1877	respect to all rights of a qualified beneficiary under this
1878	section.
1879	(4)  As provided in s. 736.0603(1), the trustee's duties
1880	under this section extend only to the settlor while a trust is
1881	revocable.
1882	(5)  This section applies to trust accountings rendered for
1883	accounting periods beginning on or after January 1, 2008.
1884	736.08135  Trust accountings.--
1885	(1)  A trust accounting must be a reasonably understandable
1886	report from the date of the last accounting or, if none, from
1887	the date on which the trustee became accountable, that
1888	adequately discloses the information required in subsection (2).
1889	(2)(a)  The accounting must begin with a statement
1890	identifying the trust, the trustee furnishing the accounting,
1891	and the time period covered by the accounting.
1892	(b)  The accounting must show all cash and property
1893	transactions and all significant transactions affecting
1894	administration during the accounting period, including
1895	compensation paid to the trustee and the trustee's agents. Gains
1896	and losses realized during the accounting period and all
1897	receipts and disbursements must be shown.
1898	(c)  To the extent feasible, the accounting must identify
1899	and value trust assets on hand at the close of the accounting
1900	period. For each asset or class of assets reasonably capable of
1901	valuation, the accounting shall contain two values, the asset
1902	acquisition value or carrying value and the estimated current
1903	value. The accounting must identify each known noncontingent
1904	liability with an estimated current amount of the liability if
1905	known.
1906	(d)  To the extent feasible, the accounting must show
1907	significant transactions that do not affect the amount for which
1908	the trustee is accountable, including name changes in investment
1909	holdings, adjustments to carrying value, a change of custodial
1910	institutions, and stock splits.
1911	(e)  The accounting must reflect the allocation of
1912	receipts, disbursements, accruals, or allowances between income
1913	and principal when the allocation affects the interest of any
1914	beneficiary of the trust.
1915	(f)  The trustee shall include in the final accounting a
1916	plan of distribution for any undistributed assets shown on the
1917	final accounting.
1918	(3)  This section applies to all trust accountings rendered
1919	for any accounting periods beginning on or after January 1,
1920	2003.
1921	736.0814  Discretionary powers; tax savings.--
1922	(1)  Notwithstanding the breadth of discretion granted to a
1923	trustee in the terms of the trust, including the use of such
1924	terms as "absolute," "sole," or "uncontrolled," the trustee
1925	shall exercise a discretionary power in good faith and in
1926	accordance with the terms and purposes of the trust and the
1927	interests of the beneficiaries. A court shall not determine that
1928	a trustee abused its discretion merely because the court would
1929	have exercised the discretion in a different manner or would not
1930	have exercised the discretion.
1931	(2)  Subject to subsection (3) and unless the terms of the
1932	trust expressly indicate that a rule in this subsection does not
1933	apply, a person who is a beneficiary and a trustee may not:
1934	(a)  Make discretionary distributions of either principal
1935	or income to or for the benefit of that trustee, except to
1936	provide for that trustee's health, education, maintenance, or
1937	support as described in ss. 2041 and 2514 of the Internal
1938	Revenue Code;
1939	(b)  Make discretionary allocations of receipts or expenses
1940	as between principal and income, unless the trustee acts in a
1941	fiduciary capacity whereby the trustee has no power to enlarge
1942	or shift any beneficial interest except as an incidental
1943	consequence of the discharge of the trustee's fiduciary duties;
1944	(c)  Make discretionary distributions of either principal
1945	or income to satisfy any of the trustee's legal support
1946	obligations; or
1947	(d)  Exercise any other power, including, but not limited
1948	to, the right to remove or to replace any trustee, so as to
1949	cause the powers enumerated in paragraph (a), paragraph (b), or
1950	paragraph (c) to be exercised on behalf of, or for the benefit
1951	of, a beneficiary who is also a trustee.
1952	(3)  Subsection (2) does not apply to:
1953	(a)  A power held by the settlor of the trust;
1954	(b)  A power held by the settlor's spouse who is the
1955	trustee of a trust for which a marital deduction, as defined in
1956	s. 2056(a) or s. 2523(a) of the Internal Revenue Code of 1986,
1957	as amended, was previously allowed;
1958	(c)  Any trust during any period that the trust may be
1959	revoked or amended by its settlor; or
1960	(d)  A trust if contributions to the trust qualify for the
1961	annual exclusion under s. 2503(c) of the Internal Revenue Code
1962	of 1986, as amended.
1963	(4)  A power whose exercise is limited or prohibited by
1964	subsection (2) may be exercised by the remaining trustees whose
1965	exercise of the power is not so limited or prohibited. If there
1966	is no trustee qualified to exercise the power, on petition by
1967	any qualified beneficiary, the court may appoint an independent
1968	trustee with authority to exercise the power.
1969	(5)  A person who has the right to remove or to replace a
1970	trustee does not possess nor may that person be deemed to
1971	possess, by virtue of having that right, the powers of the
1972	trustee that is subject to removal or to replacement.
1973	736.08147  Duty to distribute trust income.--If a will or
1974	trust instrument granting income to the settlor's or testator's
1975	spouse for life is silent as to the time of distribution of
1976	income and the frequency of distributions, the trustee shall
1977	distribute all net income, as defined in chapter 738, to the
1978	spouse no less frequently than annually. This provision shall
1979	apply to any trust established before, on, or after July 1,
1980	2007, unless the trust instrument expressly directs or permits
1981	net income to be distributed less frequently than annually.
1982	736.0815  General powers of trustee.--
1983	(1)  A trustee, without authorization by the court, may,
1984	except as limited or restricted by this code, exercise:
1985	(a)  Powers conferred by the terms of the trust.
1986	(b)  Except as limited by the terms of the trust:
1987	1.  All powers over the trust property that an unmarried
1988	competent owner has over individually owned property.
1989	2.  Any other powers appropriate to achieve the proper
1990	investment, management, and distribution of the trust property.
1991	3.  Any other powers conferred by this code.
1992	(2)  The exercise of a power is subject to the fiduciary
1993	duties prescribed by this code.
1994	736.0816  Specific powers of trustee.--Except as limited or
1995	restricted by this code, a trustee may:
1996	(1)  Collect trust property and accept or reject additions
1997	to the trust property from a settlor, including an asset in
1998	which the trustee is personally interested, and hold property in
1999	the name of a nominee or in other form without disclosure of the
2000	trust so that title to the property may pass by delivery but the
2001	trustee is liable for any act of the nominee in connection with
2002	the property so held.
2003	(2)  Acquire or sell property, for cash or on credit, at
2004	public or private sale.
2005	(3)  Acquire an undivided interest in a trust asset,
2006	including, but not limited to, a money market mutual fund,
2007	mutual fund, or common trust fund, in which asset the trustee
2008	holds an undivided interest in any trust capacity, including any
2009	money market or other mutual fund from which the trustee or any
2010	affiliate or associate of the trustee is entitled to receive
2011	reasonable compensation for providing necessary services as an
2012	investment adviser, portfolio manager, or servicing agent. A
2013	trustee or affiliate or associate of the trustee may receive
2014	compensation for such services in addition to fees received for
2015	administering the trust provided such compensation is fully
2016	disclosed in writing to all qualified beneficiaries.
2017	(4)  Exchange, partition, or otherwise change the character
2018	of trust property.
2019	(5)  Deposit trust money in an account in a regulated
2020	financial-service institution.
2021	(6)  Borrow money, with or without security, and mortgage
2022	or pledge trust property for a period within or extending beyond
2023	the duration of the trust and advance money for the protection
2024	of the trust.
2025	(7)  With respect to an interest in a proprietorship,
2026	partnership, limited liability company, business trust,
2027	corporation, or other form of business or enterprise, continue
2028	the business or other enterprise and take any action that may be
2029	taken by shareholders, members, or property owners, including,
2030	but not limited to, merging, dissolving, or otherwise changing
2031	the form of business organization or contributing additional
2032	capital.
2033	(8)  With respect to stocks or other securities, exercise
2034	the rights of an absolute owner, including, but not limited to,
2035	the right to:
2036	(a)  Vote, or give proxies to vote, with or without power
2037	of substitution, or enter into or continue a voting trust
2038	agreement.
2039	(b)  Hold a security in the name of a nominee or in other
2040	form without disclosure of the trust so that title may pass by
2041	delivery.
2042	(c)  Pay calls, assessments, and other sums chargeable or
2043	accruing against the securities, and sell or exercise stock
2044	subscription or conversion rights.
2045	(d)  Deposit the securities with a depositary or other
2046	regulated financial-service institution.
2047	(9)  With respect to an interest in real property,
2048	construct, or make ordinary or extraordinary repairs to,
2049	alterations to, or improvements in, buildings or other
2050	structures, demolish improvements, raze existing or erect new
2051	party walls or buildings, subdivide or develop land, dedicate
2052	land to public use or grant public or private easements, and
2053	make or vacate plats and adjust boundaries.
2054	(10)  Enter into a lease for any purpose as lessor or
2055	lessee, including a lease or other arrangement for exploration
2056	and removal of natural resources, with or without the option to
2057	purchase or renew, for a period within or extending beyond the
2058	duration of the trust.
2059	(11)  Grant an option involving a sale, lease, or other
2060	disposition of trust property or acquire an option for the
2061	acquisition of property, including an option exercisable beyond
2062	the duration of the trust, and exercise an option so acquired.
2063	(12)  Insure the property of the trust against damage or
2064	loss and insure the trustee, trustee's agents, and beneficiaries
2065	against liability arising from the administration of the trust.
2066	(13)  Abandon or decline to administer property of no value
2067	or of insufficient value to justify the collection or continued
2068	administration of such property.
2069	(14)  Pay or contest any claim, settle a claim by or
2070	against the trust, and release, in whole or in part, a claim
2071	belonging to the trust.
2072	(15)  Pay taxes, assessments, compensation of the trustee
2073	and of employees and agents of the trust, and other expenses
2074	incurred in the administration of the trust.
2075	(16)  Allocate items of income or expense to trust income
2076	or principal, as provided by law.
2077	(17)  Exercise elections with respect to federal, state,
2078	and local taxes.
2079	(18)  Select a mode of payment under any employee benefit
2080	or retirement plan, annuity, or life insurance payable to the
2081	trustee, exercise rights under such plan, annuity, or insurance,
2082	including exercise of the right to indemnification for expenses
2083	and against liabilities, and take appropriate action to collect
2084	the proceeds.
2085	(19)  Make loans out of trust property, including, but not
2086	limited to, loans to a beneficiary on terms and conditions that
2087	are fair and reasonable under the circumstances, and the trustee
2088	has a lien on future distributions for repayment of those loans.
2089	(20)  Employ persons, including, but not limited to,
2090	attorneys, accountants, investment advisers, or agents, even if
2091	they are the trustee, an affiliate of the trustee, or otherwise
2092	associated with the trustee, to advise or assist the trustee in
2093	the exercise of any of the trustee's powers and pay reasonable
2094	compensation and costs incurred in connection with such
2095	employment from the assets of the trust and act without
2096	independent investigation on the recommendations of such
2097	persons.
2098	(21)  Pay an amount distributable to a beneficiary who is
2099	under a legal disability or who the trustee reasonably believes
2100	is incapacitated, by paying the amount directly to the
2101	beneficiary or applying the amount for the beneficiary's
2102	benefit, or by:
2103	(a)  Paying the amount to the beneficiary's guardian of the
2104	property or, if the beneficiary does not have a guardian of the
2105	property, the beneficiary's guardian of the person;
2106	(b)  Paying the amount to the beneficiary's custodian under
2107	a Uniform Transfers to Minors Act or custodial trustee under a
2108	Uniform Custodial Trust Act, and, for that purpose, creating a
2109	custodianship or custodial trust;
2110	(c)  Paying the amount to an adult relative or other person
2111	having legal or physical care or custody of the beneficiary, to
2112	be expended on the beneficiary's behalf, if the trustee does not
2113	know of a guardian of the property, guardian of the person,
2114	custodian, or custodial trustee; or
2115	(d)  Managing the amount as a separate fund on the
2116	beneficiary's behalf, subject to the beneficiary's continuing
2117	right to withdraw the distribution.
2118	(22)  On distribution of trust property or the division or
2119	termination of a trust, make distributions in divided or
2120	undivided interests, allocate particular assets in proportionate
2121	or disproportionate shares, value the trust property for those
2122	purposes, and adjust for resulting differences in valuation.
2123	(23)  Prosecute or defend, including appeals, an action,
2124	claim, or judicial proceeding in any jurisdiction to protect
2125	trust property or the trustee in the performance of the
2126	trustee's duties.
2127	(24)  Sign and deliver contracts and other instruments that
2128	are useful to achieve or facilitate the exercise of the
2129	trustee's powers.
2130	(25)  On termination of the trust, exercise the powers
2131	appropriate to wind up the administration of the trust and
2132	distribute the trust property to the persons entitled to the
2133	property, subject to the right of the trustee to retain a
2134	reasonable reserve for the payment of debts, expenses, and
2135	taxes.
2136	736.08163  Powers of trustees relating to environmental or
2137	human health laws or to trust property contaminated with
2138	hazardous or toxic substances; liability.--
2139	(1)  From the creation of a trust until final distribution
2140	of the assets from the trust, the trustee has, without court
2141	authorization, the powers specified in subsection (2).
2142	(2)  Unless otherwise provided in the trust instrument, a
2143	trustee has the power, acting reasonably, to:
2144	(a)  Inspect or investigate, or cause to be inspected or
2145	investigated, property held by the trustee, including interests
2146	in sole proprietorships, partnerships, or corporations and any
2147	assets owned by any such business entity for the purpose of
2148	determining compliance with an environmental law affecting that
2149	property or to respond to an actual or threatened violation of
2150	an environmental law affecting that property;
2151	(b)  Take, on behalf of the trust, any action necessary to
2152	prevent, abate, or otherwise remedy an actual or potential
2153	violation of an environmental law affecting property held by the
2154	trustee, before or after initiation of an enforcement action by
2155	a governmental body;
2156	(c)  Refuse to accept property in trust if the trustee
2157	determines that any property to be donated or conveyed to the
2158	trustee is contaminated with a hazardous substance or is being
2159	used or has been used for an activity directly or indirectly
2160	involving a hazardous substance, which circumstance could result
2161	in liability to the trust or trustee or otherwise impair the
2162	value of the assets to be held;
2163	(d)  Settle or compromise at any time any claim against the
2164	trust or trustee that may be asserted by a governmental body or
2165	private party that involves the alleged violation of an
2166	environmental law affecting property of any trust over which the
2167	trustee has responsibility;
2168	(e)  Disclaim any power granted by any document, law, or
2169	rule of law that, in the sole judgment of the trustee, may cause
2170	the trustee to incur personal liability, or the trust to incur
2171	liability, under any environmental law;
2172	(f)  Decline to serve as a trustee, or having undertaken to
2173	serve as a trustee, resign at any time, if the trustee believes
2174	there is or may be a conflict of interest in its fiduciary
2175	capacity and in its individual capacity because of potential
2176	claims or liabilities that may be asserted against the trustee
2177	on behalf of the trust by reason of the type or condition of the
2178	assets held; or
2179	(g)  Charge against the income and principal of the trust
2180	the cost of any inspection, investigation, review, abatement,
2181	response, cleanup, or remedial action that this section
2182	authorizes the trustee to take and, if the trust terminates or
2183	closes or the trust property is transferred to another trustee,
2184	hold assets sufficient to cover the cost of cleaning up any
2185	known environmental problem.
2186	(3)  A trustee is not personally liable to any beneficiary
2187	or any other person for a decrease in value of assets in a trust
2188	by reason of the trustee's compliance or efforts to comply with
2189	an environmental law, specifically including any reporting
2190	requirement under that law.
2191	(4)  A trustee that acquires ownership or control of a
2192	vessel or other property, without having owned, operated, or
2193	materially participated in the management of that vessel or
2194	property before assuming ownership or control as trustee, is not
2195	considered an owner or operator for purposes of liability under
2196	chapter 376, chapter 403, or any other environmental law. A
2197	trustee that willfully, knowingly, or recklessly causes or
2198	exacerbates a release or threatened release of a hazardous
2199	substance is personally liable for the cost of the response, to
2200	the extent that the release or threatened release is
2201	attributable to the trustee's activities. This subsection does
2202	not preclude the filing of claims against the assets that
2203	constitute the trust held by the trustee or the filing of
2204	actions against the trustee in its representative capacity and
2205	in any such action, an award or judgment against the trustee
2206	must be satisfied only from the assets of the trust.
2207	(5)  The acceptance by the trustee of the property or a
2208	failure by the trustee to inspect or investigate the property
2209	does not create any inference as to whether there is liability
2210	under an environmental law with respect to that property.
2211	(6)  For the purposes of this section, the term "hazardous
2212	substance" means a substance defined as hazardous or toxic, or
2213	any contaminant, pollutant, or constituent thereof, or otherwise
2214	regulated, by an environmental law.
2215	(7)  This section does not apply to any trust created under
2216	a document executed before July 1, 1995, unless the trust is
2217	amendable and the settlor amends the trust at any time to
2218	incorporate the provisions of this section.
2219	736.08165  Administration pending outcome of contest or
2220	other proceeding.--
2221	(1)  Pending the outcome of a proceeding filed to determine
2222	the validity of all or part of a trust or the beneficiaries of
2223	all or part of a trust, the trustee shall proceed with the
2224	administration of the trust as if no proceeding had been
2225	commenced, except no action may be taken and no distribution may
2226	be made to a beneficiary in contravention of the rights of those
2227	persons who may be affected by the outcome of the proceeding.
2228	(2)  Upon motion of a party and after notice to interested
2229	persons, a court, on good cause shown, may make an exception to
2230	the prohibition under subsection (1) and authorize the trustee
2231	to act or to distribute trust assets to a beneficiary subject to
2232	any conditions the court, in the court's discretion, may impose,
2233	including the posting of bond by the beneficiary.
2234	736.0817  Distribution on termination.--Upon the occurrence
2235	of an event terminating or partially terminating a trust, the
2236	trustee shall proceed expeditiously to distribute the trust
2237	property to the persons entitled to the property, subject to the
2238	right of the trustee to retain a reasonable reserve for the
2239	payment of debts, expenses, and taxes. The provisions of this
2240	section are in addition to and are not in derogation of the
2241	rights of a trustee under the common law with respect to final
2242	distribution of a trust.
2243	Section 9.  Part IX of chapter 736, Florida Statutes,
2244	consisting of section 736.0901, is created to read:
2245
2246	PART IX
2247	TRUST INVESTMENTS
2248
2249	736.0901  Applicability of chapter 518.--A trustee shall
2250	invest trust property in accordance with chapter 518.
2251	Section 10.  Part X of chapter 736, Florida Statutes,
2252	consisting of sections 736.1001, 736.1002, 736.1003, 736.1004,
2253	736.1005, 736.1006, 736.1007, 736.1008, 736.1009, 736.1010,
2254	736.1011, 736.1012, 736.1013, 736.1014, 736.1015, 736.1016,
2255	736.1017, and 736.1018, is created to read:
2256
2257	PART X
2258	LIABILITY OF TRUSTEE AND RIGHTS OF PERSONS DEALING WITH TRUSTEE
2259
2260	736.1001  Remedies for breach of trust.--
2261	(1)  A violation by a trustee of a duty the trustee owes to
2262	a beneficiary is a breach of trust.
2263	(2)  To remedy a breach of trust that has occurred or may
2264	occur, the court may:
2265	(a)  Compel the trustee to perform the trustee's duties;
2266	(b)  Enjoin the trustee from committing a breach of trust;
2267	(c)  Compel the trustee to redress a breach of trust by
2268	paying money or restoring property or by other means;
2269	(d)  Order a trustee to account;
2270	(e)  Appoint a special fiduciary to take possession of the
2271	trust property and administer the trust;
2272	(f)  Suspend the trustee;
2273	(g)  Remove the trustee as provided in s. 736.706;
2274	(h)  Reduce or deny compensation to the trustee;
2275	(i)  Subject to s. 736.1016, void an act of the trustee,
2276	impose a lien or a constructive trust on trust property, or
2277	trace trust property wrongfully disposed of and recover the
2278	property or its proceeds; or
2279	(j)  Order any other appropriate relief.
2280	(3)  As an illustration of the remedies available to the
2281	court and without limiting the court's discretion as provided in
2282	subsection (2), if a breach of trust results in the favoring of
2283	any beneficiary to the detriment of any other beneficiary or
2284	consists of an abuse of the trustee's discretion:
2285	(a)  To the extent the breach of trust has resulted in no
2286	distribution to a beneficiary or a distribution that is too
2287	small, the court may require the trustee to pay from the trust
2288	to the beneficiary an amount the court determines will restore
2289	the beneficiary, in whole or in part, to his or her appropriate
2290	position.
2291	(b)  To the extent the breach of trust has resulted in a
2292	distribution to a beneficiary that is too large, the court may
2293	restore the beneficiaries, the trust, or both, in whole or in
2294	part, to their appropriate positions by requiring the trustee to
2295	withhold an amount from one or more future distributions to the
2296	beneficiary who received the distribution that was too large or
2297	by requiring that beneficiary to return some or all of the
2298	distribution to the trust.
2299	736.1002  Damages for breach of trust.--
2300	(1)  A trustee who commits a breach of trust is liable for
2301	the greater of:
2302	(a)  The amount required to restore the value of the trust
2303	property and trust distributions to what they would have been if
2304	the breach had not occurred, including lost income, capital
2305	gain, or appreciation that would have resulted from proper
2306	administration; or
2307	(b)  The profit the trustee made by reason of the breach.
2308	(2)  Except as otherwise provided in this subsection, if
2309	more than one person, including a trustee or trustees, is liable
2310	to the beneficiaries for a breach of trust, each liable person
2311	is entitled to pro rata contribution from the other person or
2312	persons. A person is not entitled to contribution if the person
2313	committed the breach of trust in bad faith. A person who
2314	received a benefit from the breach of trust is not entitled to
2315	contribution from another person to the extent of the benefit
2316	received.
2317	(3)  In determining the pro rata shares of liable persons
2318	in the entire liability for a breach of trust:
2319	(a)  Their relative degrees of fault shall be the basis for
2320	allocation of liability.
2321	(b)  If equity requires, the collective liability of some
2322	as a group shall constitute a single share.
2323	(c)  Principles of equity applicable to contribution
2324	generally shall apply.
2325	(4)  The right of contribution shall be enforced as
2326	follows:
2327	(a)  Contribution may be enforced by separate action,
2328	whether or not judgment has been entered in an action against
2329	two or more liable persons for the same breach of trust.
2330	(b)  When a judgment has been entered in an action against
2331	two or more liable persons for the same breach of trust,
2332	contribution may be enforced in that action by judgment in favor
2333	of one judgment defendant against any other judgment defendants
2334	by motion upon notice to all parties to the action.
2335	(c)  If there is a judgment for breach of trust against the
2336	liable person seeking contribution, any separate action by that
2337	person to enforce contribution must be commenced within 1 year
2338	after the judgment has become final by lapse of time for appeal
2339	or after appellate review.
2340	(d)  If there is no judgment for the breach of trust
2341	against the liable person seeking contribution, the person's
2342	right of contribution is barred unless the person has:
2343	1.  Discharged by payment the common liability within the
2344	period of the statute of limitations applicable to the
2345	beneficiary's right of action against the liable person and the
2346	person has commenced an action for contribution within 1 year
2347	after payment, or
2348	2.  Agreed, while action is pending against the liable
2349	person, to discharge the common liability and has within 1 year
2350	after the agreement paid the liability and commenced the
2351	person's action for contribution.
2352	(5)  The beneficiary's recovery of a judgment for breach of
2353	trust against one liable person does not of itself discharge
2354	other liable persons from liability for the breach of trust
2355	unless the judgment is satisfied. The satisfaction of the
2356	judgment does not impair any right of contribution.
2357	(6)  The judgment of the court in determining the liability
2358	of several defendants to the beneficiary for breach of trust is
2359	binding upon such defendants in determining the right of such
2360	defendants to contribution.
2361	(7)  Subsection (2) applies to all causes of action for
2362	breach of trust pending on July 1, 2007, under which causes of
2363	action the right of contribution among persons jointly and
2364	severally liable is involved and to all causes of action filed
2365	after July 1, 2007.
2366	736.1003  Damages in absence of breach.--Absent a breach of
2367	trust, a trustee is not liable to a beneficiary for a loss or
2368	depreciation in the value of trust property or for not having
2369	made a profit.
2370	736.1004  Attorney's fees and costs.--
2371	(1)(a)  In all actions for breach of fiduciary duty or
2372	challenging the exercise of, or failure to exercise, a trustee's
2373	powers; and
2374	(b)  In proceedings arising under ss. 736.0410-736.0417,
2375
2376	the court shall award taxable costs as in chancery actions,
2377	including attorney fees and guardian ad litem fees.
2378	(2)  When awarding taxable costs under this section,
2379	including attorney fees and guardian ad litem fees, the court,
2380	in its discretion, may direct payment from a party's interest,
2381	if any, in the trust or enter a judgment that may be satisfied
2382	from other property of the party, or both.
2383	736.1005  Attorney's fees for services to the trust.--
2384	(1)  Any attorney who has rendered services to a trust may
2385	be awarded reasonable compensation from the trust. The attorney
2386	may apply to the court for an order awarding attorney's fees
2387	and, after notice and service on the trustee and all
2388	beneficiaries entitled to an accounting under s. 736.0813, the
2389	court shall enter an order on the fee application.
2390	(2)  Whenever attorney's fees are to be paid out of the
2391	trust, the court, in its discretion, may direct from what part
2392	of the trust the fees shall be paid.
2393	(3)  Except when a trustee's interest may be adverse in a
2394	particular matter, the attorney shall give reasonable notice in
2395	writing to the trustee of the attorney's retention by an
2396	interested person and the attorney's entitlement to fees
2397	pursuant to this section. A court may reduce any fee award for
2398	services rendered by the attorney prior to the date of actual
2399	notice to the trustee, if the actual notice date is later than a
2400	date of reasonable notice. In exercising this discretion, the
2401	court may exclude compensation for services rendered after the
2402	reasonable notice date but prior to the date of actual notice.
2403	736.1006  Costs in trust proceedings.--
2404	(1)  In all trust proceedings, costs may be awarded as in
2405	chancery actions.
2406	(2)  Whenever costs are to be paid out of the trust, the
2407	court, in its discretion, may direct from what part of the trust
2408	the costs shall be paid.
2409	736.1007  Trustee's attorney's fees.--
2410	(1)  If the trustee of a revocable trust retains an
2411	attorney to render legal services in connection with the initial
2412	administration of the trust, the attorney is entitled to
2413	reasonable compensation for those legal services, payable from
2414	the assets of the trust without court order. The trustee and the
2415	attorney may agree to compensation that is determined in a
2416	manner or amount other than the manner or amount provided in
2417	this section. The agreement is not binding on a person who bears
2418	the impact of the compensation unless that person is a party to
2419	or otherwise consents to be bound by the agreement. The
2420	agreement may provide that the trustee is not individually
2421	liable for the attorney's fees and costs.
2422	(2)  Unless otherwise agreed, compensation based on the
2423	value of the trust assets immediately following the settlor's
2424	death and the income earned by the trust during initial
2425	administration at the rate of 75 percent of the schedule
2426	provided in s. 733.6171(3)(a)-(h) is presumed to be reasonable
2427	total compensation for ordinary services of all attorneys
2428	employed generally to advise a trustee concerning the trustee's
2429	duties in initial trust administration.
2430	(3)  An attorney who is retained to render only limited and
2431	specifically defined legal services shall be compensated as
2432	provided in the retaining agreement. If the amount or method of
2433	determining compensation is not provided in the agreement, the
2434	attorney is entitled to a reasonable fee, taking into account
2435	the factors set forth in subsection (6).
2436	(4)  Ordinary services of the attorney in an initial trust
2437	administration include legal advice and representation
2438	concerning the trustee's duties relating to:
2439	(a)  Review of the trust instrument and each amendment for
2440	legal sufficiency and interpretation.
2441	(b)  Implementation of substitution of the successor
2442	trustee.
2443	(c)  Persons who must or should be served with required
2444	notices and the method and timing of such service.
2445	(d)  The obligation of a successor to require a former
2446	trustee to provide an accounting.
2447	(e)  The trustee's duty to protect, insure, and manage
2448	trust assets and the trustee's liability relating to these
2449	duties.
2450	(f)  The trustee's duty regarding investments imposed by
2451	the prudent investor rule.
2452	(g)  The trustee's obligation to inform and account to
2453	beneficiaries and the method of satisfaction of such
2454	obligations, the liability of the trust and trustee to the
2455	settlor's creditors, and the advisability or necessity for
2456	probate proceedings to bar creditors.
2457	(h)  Contributions due to the personal representative of
2458	the settlor's estate for payment of expenses of administration
2459	and obligations of the settlor's estate.
2460	(i)  Identifying tax returns required to be filed by the
2461	trustee, the trustee's liability for payment of taxes, and the
2462	due date of returns.
2463	(j)  Filing a nontaxable affidavit, if not filed by a
2464	personal representative.
2465	(k)  Order of payment of expenses of administration of the
2466	trust and order and priority of abatement of trust
2467	distributions.
2468	(l)  Distribution of income or principal to beneficiaries
2469	or funding of further trusts provided in the governing
2470	instrument.
2471	(m)  Preparation of any legal documents required to effect
2472	distribution.
2473	(n)  Fiduciary duties, avoidance of self-dealing, conflicts
2474	of interest, duty of impartiality, and obligations to
2475	beneficiaries.
2476	(o)  If there is a conflict of interest between a trustee
2477	who is a beneficiary and other beneficiaries of the trust,
2478	advice to the trustee on limitations of certain authority of the
2479	trustee regarding discretionary distributions or exercise of
2480	certain powers and alternatives for appointment of an
2481	independent trustee and appropriate procedures.
2482	(p)  Procedures for the trustee's discharge from liability
2483	for administration of the trust on termination or resignation.
2484	(5)  In addition to the attorney's fees for ordinary
2485	services, the attorney for the trustee shall be allowed further
2486	reasonable compensation for any extraordinary service. What
2487	constitutes an extraordinary service may vary depending on many
2488	factors, including the size of the trust. Extraordinary services
2489	may include, but are not limited to:
2490	(a)  Involvement in a trust contest, trust construction, a
2491	proceeding for determination of beneficiaries, a contested
2492	claim, elective share proceedings, apportionment of estate
2493	taxes, or other adversary proceedings or litigation by or
2494	against the trust.
2495	(b)  Representation of the trustee in an audit or any
2496	proceeding for adjustment, determination, or collection of any
2497	taxes.
2498	(c)  Tax advice on postmortem tax planning, including, but
2499	not limited to, disclaimer, renunciation of fiduciary
2500	commission, alternate valuation date, allocation of
2501	administrative expenses between tax returns, the QTIP or reverse
2502	QTIP election, allocation of GST exemption, qualification for
2503	Internal Revenue Code ss. 303 and 6166 privileges, deduction of
2504	last illness expenses, distribution planning, asset basis
2505	considerations, throwback rules, handling income or deductions
2506	in respect of a decedent, valuation discounts, special use and
2507	other valuation, handling employee benefit or retirement
2508	proceeds, prompt assessment request, or request for release from
2509	personal liability for payment of tax.
2510	(d)  Review of an estate tax return and preparation or
2511	review of other tax returns required to be filed by the trustee.
2512	(e)  Preparation of decedent's federal estate tax return.
2513	If this return is prepared by the attorney, a fee of one-half of
2514	1 percent up to a value of $10 million and one-fourth of 1
2515	percent on the value in excess of $10 million, of the gross
2516	estate as finally determined for federal estate tax purposes, is
2517	presumed to be reasonable compensation for the attorney for this
2518	service. These fees shall include services for routine audit of
2519	the return, not beyond the examining agent level, if required.
2520	(f)  Purchase, sale, lease, or encumbrance of real property
2521	by the trustee or involvement in zoning, land use,
2522	environmental, or other similar matters.
2523	(g)  Legal advice regarding carrying on of decedent's
2524	business or conducting other commercial activity by the trustee.
2525	(h)  Legal advice regarding claims for damage to the
2526	environment or related procedures.
2527	(i)  Legal advice regarding homestead status of trust real
2528	property or proceedings involving the status.
2529	(j)  Involvement in fiduciary, employee, or attorney
2530	compensation disputes.
2531	(k)  Considerations of special valuation of trust assets,
2532	including discounts for blockage, minority interests, lack of
2533	marketability, and environmental liability.
2534	(6)  Upon petition of any interested person in a proceeding
2535	to review the compensation paid or to be paid to the attorney
2536	for the trustee, the court may increase or decrease the
2537	compensation for ordinary services of the attorney for the
2538	trustee or award compensation for extraordinary services if the
2539	facts and circumstances of the particular administration
2540	warrant. In determining reasonable compensation, the court shall
2541	consider all of the following factors giving such weight to each
2542	as the court may determine to be appropriate:
2543	(a)  The promptness, efficiency, and skill with which the
2544	initial administration was handled by the attorney.
2545	(b)  The responsibilities assumed by, and potential
2546	liabilities of, the attorney.
2547	(c)  The nature and value of the assets that are affected
2548	by the decedent's death.
2549	(d)  The benefits or detriments resulting to the trust or
2550	the trust's beneficiaries from the attorney's services.
2551	(e)  The complexity or simplicity of the administration and
2552	the novelty of issues presented.
2553	(f)  The attorney's participation in tax planning for the
2554	estate, the trust, and the trust's beneficiaries and tax return
2555	preparation or review and approval.
2556	(g)  The nature of the trust assets, the expenses of
2557	administration, and the claims payable by the trust and the
2558	compensation paid to other professionals and fiduciaries.
2559	(h)  Any delay in payment of the compensation after the
2560	services were furnished.
2561	(i)  Any other relevant factors.
2562	(7)  The court may determine reasonable attorney's
2563	compensation without receiving expert testimony. Any party may
2564	offer expert testimony after notice to interested persons. If
2565	expert testimony is offered, an expert witness fee may be
2566	awarded by the court and paid from the assets of the trust. The
2567	court shall direct from what part of the trust the fee is to be
2568	paid.
2569	(8)  If a separate written agreement regarding compensation
2570	exists between the attorney and the settlor, the attorney shall
2571	furnish a copy to the trustee prior to commencement of
2572	employment and, if employed, shall promptly file and serve a
2573	copy on all interested persons. A separate agreement or a
2574	provision in the trust suggesting or directing the trustee to
2575	retain a specific attorney does not obligate the trustee to
2576	employ the attorney or obligate the attorney to accept the
2577	representation but, if the attorney who is a party to the
2578	agreement or who drafted the trust is employed, the compensation
2579	paid shall not exceed the compensation provided in the
2580	agreement.
2581	(9)  Court proceedings to determine compensation, if
2582	required, are a part of the trust administration process and the
2583	costs, including fees for the trustee's attorney, shall be
2584	determined by the court and paid from the assets of the trust
2585	unless the court finds the attorney's fees request to be
2586	substantially unreasonable. The court shall direct from what
2587	part of the trust the fees are to be paid.
2588	(10)  As used in this section, the term "initial trust
2589	administration" means administration of a revocable trust during
2590	the period that begins with the death of the settlor and ends on
2591	the final distribution of trust assets outright or to continuing
2592	trusts created under the trust agreement but, if an estate tax
2593	return is required, not until after issuance of an estate tax
2594	closing letter or other evidence of termination of the estate
2595	tax proceeding. This initial period is not intended to include
2596	continued regular administration of the trust.
2597	736.1008  Limitations on proceedings against trustees.--
2598	(1)  Except as provided in subsection (2), all claims by a
2599	beneficiary against a trustee for breach of trust are barred as
2600	provided in chapter 95 as to:
2601	(a)  All matters adequately disclosed in a trust disclosure
2602	document issued by the trustee, with the limitations period
2603	beginning on the date of receipt of adequate disclosure.
2604	(b)  All matters not adequately disclosed in a trust
2605	disclosure document if the trustee has issued a final trust
2606	accounting and has given written notice to the beneficiary of
2607	the availability of the trust records for examination and that
2608	any claims with respect to matters not adequately disclosed may
2609	be barred unless an action is commenced within the applicable
2610	limitations period provided in chapter 95. The limitations
2611	period begins on the date of receipt of the final trust
2612	accounting and notice.
2613	(2)  Unless sooner barred by adjudication, consent, or
2614	limitations, a beneficiary is barred from bringing an action
2615	against a trustee for breach of trust with respect to a matter
2616	that was adequately disclosed in a trust disclosure document
2617	unless a proceeding to assert the claim is commenced within 6
2618	months after receipt from the trustee of the trust disclosure
2619	document or a limitation notice that applies to that disclosure
2620	document, whichever is received later.
2621	(3)  When a trustee has not issued a final trust accounting
2622	or has not given written notice to the beneficiary of the
2623	availability of the trust records for examination and that
2624	claims with respect to matters not adequately disclosed may be
2625	barred, a claim against the trustee for breach of trust based on
2626	a matter not adequately disclosed in a trust disclosure document
2627	accrues when the beneficiary has actual knowledge of the
2628	trustee's repudiation of the trust or adverse possession of
2629	trust assets, and is barred as provided in chapter 95.
2630	(4)  As used in this section, the term:
2631	(a)  "Trust disclosure document" means a trust accounting
2632	or any other written report of the trustee. A trust disclosure
2633	document adequately discloses a matter if the document provides
2634	sufficient information so that a beneficiary knows of a claim or
2635	reasonably should have inquired into the existence of a claim
2636	with respect to that matter.
2637	(b)  "Trust accounting" means an accounting that adequately
2638	discloses the information required by and that substantially
2639	complies with the standards set forth in s. 736.08135.
2640	(c)  "Limitation notice" means a written statement of the
2641	trustee that an action by a beneficiary against the trustee for
2642	breach of trust based on any matter adequately disclosed in a
2643	trust disclosure document may be barred unless the action is
2644	commenced within 6 months after receipt of the trust disclosure
2645	document or receipt of a limitation notice that applies to that
2646	trust disclosure document, whichever is later. A limitation
2647	notice may but is not required to be in the following form: "An
2648	action for breach of trust based on matters disclosed in a trust
2649	accounting or other written report of the trustee may be subject
2650	to a 6-month statute of limitations from the receipt of the
2651	trust accounting or other written report. If you have questions,
2652	please consult your attorney."
2653	(5)  For purposes of this section, a limitation notice
2654	applies to a trust disclosure document when the limitation
2655	notice is:
2656	(a)  Contained as a part of the trust disclosure document
2657	or as a part of another trust disclosure document received
2658	within 1 year prior to the receipt of the latter trust
2659	disclosure document;
2660	(b)  Accompanied concurrently by the trust disclosure
2661	document or by another trust disclosure document that was
2662	received within 1 year prior to the receipt of the latter trust
2663	disclosure document;
2664	(c)  Delivered separately within 10 days after the delivery
2665	of the trust disclosure document or of another trust disclosure
2666	document that was received within 1 year prior to the receipt of
2667	the latter trust disclosure document. For purposes of this
2668	paragraph, a limitation notice is not delivered separately if
2669	the notice is accompanied by another written communication,
2670	other than a written communication that refers only to the
2671	limitation notice; or
2672	(d)  Received more than 10 days after the delivery of the
2673	trust disclosure document but only if the limitation notice
2674	references that trust disclosure document and:
2675	1.  Offers to provide to the beneficiary on request another
2676	copy of that trust disclosure document if the document was
2677	received by the beneficiary within 1 year prior to receipt of
2678	the limitation notice; or
2679	2.  Is accompanied by another copy of that trust disclosure
2680	document if the trust disclosure document was received by the
2681	beneficiary 1 year or more prior to the receipt of the
2682	limitation notice.
2683	(6)  This section applies to trust accountings for
2684	accounting periods beginning on or after January 1, 2008, and to
2685	written reports, other than trust accountings, received by a
2686	beneficiary on or after January 1, 2008.
2687	736.1009  Reliance on trust instrument.--A trustee who acts
2688	in reasonable reliance on the terms of the trust as expressed in
2689	the trust instrument is not liable to a beneficiary for a breach
2690	of trust to the extent the breach resulted from the reliance.
2691	736.1010  Event affecting administration or
2692	distribution.--If the happening of an event, including marriage,
2693	divorce, performance of educational requirements, or death,
2694	affects the administration or distribution of a trust, a trustee
2695	who has exercised reasonable care to ascertain the happening of
2696	the event is not liable for a loss resulting from the trustee's
2697	lack of knowledge.
2698	736.1011  Exculpation of trustee.--
2699	(1)  A term of a trust relieving a trustee of liability for
2700	breach of trust is unenforceable to the extent that the term:
2701	(a)  Relieves the trustee of liability for breach of trust
2702	committed in bad faith or with reckless indifference to the
2703	purposes of the trust or the interests of the beneficiaries; or
2704	(b)  Was inserted into the trust instrument as the result
2705	of an abuse by the trustee of a fiduciary or confidential
2706	relationship with the settlor.
2707	(2)  An exculpatory term drafted or caused to be drafted by
2708	the trustee is invalid as an abuse of a fiduciary or
2709	confidential relationship unless the trustee proves that the
2710	exculpatory term is fair under the circumstances and that the
2711	term's existence and contents were adequately communicated
2712	directly to the settlor.
2713	736.1012  Beneficiary's consent, release, or
2714	ratification.--A trustee is not liable to a beneficiary for
2715	breach of trust if the beneficiary consented to the conduct
2716	constituting the breach, released the trustee from liability for
2717	the breach, or ratified the transaction constituting the breach,
2718	unless:
2719	(1)  The consent, release, or ratification of the
2720	beneficiary was induced by improper conduct of the trustee; or
2721	(2)  At the time of the consent, release, or ratification,
2722	the beneficiary did not know of the beneficiary's rights or of
2723	the material facts relating to the breach.
2724	736.1013  Limitation on personal liability of trustee.--
2725	(1)  Except as otherwise provided in the contract, a
2726	trustee is not personally liable on a contract properly entered
2727	into in the trustee's fiduciary capacity in the course of
2728	administering the trust if the trustee in the contract disclosed
2729	the fiduciary capacity.
2730	(2)  A trustee is personally liable for torts committed in
2731	the course of administering a trust or for obligations arising
2732	from ownership or control of trust property only if the trustee
2733	is personally at fault.
2734	(3)  A claim based on a contract entered into by a trustee
2735	in the trustee's fiduciary capacity, on an obligation arising
2736	from ownership or control of trust property, or on a tort
2737	committed in the course of administering a trust may be asserted
2738	in a judicial proceeding against the trustee in the trustee's
2739	fiduciary capacity, whether or not the trustee is personally
2740	liable for the claim.
2741	(4)  Issues of liability between the trust estate and the
2742	trustee individually may be determined in a proceeding for
2743	accounting, surcharge, or indemnification or in any other
2744	appropriate proceeding.
2745	736.1014  Limitations on actions against certain trusts.--
2746	(1)  After the death of a settlor, no creditor of the
2747	settlor may bring, maintain, or continue any direct action
2748	against a trust described in s. 733.707(3), the trustee of the
2749	trust, or any beneficiary of the trust that is dependent on the
2750	individual liability of the settlor. Such claims and causes of
2751	action against the settlor shall be presented and enforced
2752	against the settlor's estate as provided in part VII of chapter
2753	733 and the personal representative of the settlor's estate may
2754	obtain payment from the trustee of a trust described in s.
2755	733.707(3) as provided in ss. 733.607(2), 733.707(3), and
2756	736.05053.
2757	(2)  This section does not preclude a direct action against
2758	a trust described in s. 733.707(3), the trustee of the trust, or
2759	a beneficiary of the trust that is not dependent on the
2760	individual liability of the settlor.
2761	(3)  This section does not affect the lien of any duly
2762	recorded mortgage or security interest or the lien of any person
2763	in possession of personal property or the right to foreclose and
2764	enforce the mortgage or lien.
2765	736.1015  Interest as general partner.--
2766	(1)  Unless personal liability is imposed in the contract,
2767	a trustee who holds an interest as a general partner in a
2768	general or limited partnership is not personally liable on a
2769	contract entered into by the partnership after the trust's
2770	acquisition of the interest if the fiduciary capacity was
2771	disclosed in the contract or in a statement previously filed
2772	pursuant to a Uniform Partnership Act or Uniform Limited
2773	Partnership Act.
2774	(2)  A trustee who holds an interest as a general partner
2775	is not personally liable for torts committed by the partnership
2776	or for obligations arising from ownership or control of the
2777	interest unless the trustee is personally at fault.
2778	(3)  If the trustee of a revocable trust holds an interest
2779	as a general partner, the settlor is personally liable for
2780	contracts and other obligations of the partnership as if the
2781	settlor were a general partner.
2782	736.1016  Protection of person dealing with trustee.--
2783	(1)  A person other than a beneficiary who in good faith
2784	assists a trustee or who in good faith and for value deals with
2785	a trustee, without knowledge that the trustee is exceeding or
2786	improperly exercising the trustee's powers, is protected from
2787	liability as if the trustee properly exercised the power.
2788	(2)  A person other than a beneficiary who in good faith
2789	deals with a trustee is not required to inquire into the extent
2790	of the trustee's powers or the propriety of their exercise.
2791	(3)  A person who in good faith delivers assets to a
2792	trustee need not ensure their proper application.
2793	(4)  A person other than a beneficiary who in good faith
2794	assists a former trustee or who in good faith and for value
2795	deals with a former trustee, without knowledge that the
2796	trusteeship has terminated, is protected from liability as if
2797	the former trustee were still a trustee.
2798	(5)  Comparable protective provisions of other laws
2799	relating to commercial transactions or transfer of securities by
2800	fiduciaries prevail over the protection provided by this
2801	section.
2802	736.1017  Certification of trust.--
2803	(1)  Instead of furnishing a copy of the trust instrument
2804	to a person other than a beneficiary, the trustee may furnish to
2805	the person a certification of trust containing the following
2806	information:
2807	(a)  The trust exists and the date the trust instrument was
2808	executed.
2809	(b)  The identity of the settlor.
2810	(c)  The identity and address of the currently acting
2811	trustee.
2812	(d)  The powers of the trustee.
2813	(e)  The revocability or irrevocability of the trust and
2814	the identity of any person holding a power to revoke the trust.
2815	(f)  The authority of cotrustees to sign or otherwise
2816	authenticate and whether all or less than all are required in
2817	order to exercise powers of the trustee.
2818	(g)  The manner of taking title to trust property.
2819	(2)  A certification of trust may be signed or otherwise
2820	authenticated by any trustee.
2821	(3)  A certification of trust must state that the trust has
2822	not been revoked, modified, or amended in any manner that would
2823	cause the representations contained in the certification of
2824	trust to be incorrect.
2825	(4)  A certification of trust need not contain the
2826	dispositive terms of a trust.
2827	(5)  A recipient of a certification of trust may require
2828	the trustee to furnish copies of any excerpts from the original
2829	trust instrument and later amendments that designate the trustee
2830	and confer upon the trustee the power to act in the pending
2831	transaction.
2832	(6)  A person who acts in reliance on a certification of
2833	trust without knowledge that the representations contained in
2834	the certification are incorrect is not liable to any person for
2835	so acting and may assume without inquiry the existence of the
2836	facts contained in the certification. Knowledge of the terms of
2837	the trust may not be inferred solely from the fact that a copy
2838	of all or part of the trust instrument is held by the person
2839	relying on the certification.
2840	(7)  A person who in good faith enters into a transaction
2841	in reliance on a certification of trust may enforce the
2842	transaction against the trust property as if the representations
2843	contained in the certification were correct.
2844	(8)  This section does not limit the right of a person to
2845	obtain a copy of the trust instrument when required to be
2846	furnished by law or in a judicial proceeding concerning the
2847	trust.
2848	736.1018  Improper distribution or payment; liability of
2849	distributee.--Any person who received a distribution or was paid
2850	improperly from a trust shall return the assets or funds
2851	received and the income from those assets or interest on the
2852	funds from the date of distribution or payment unless the
2853	distribution or payment cannot be questioned because of
2854	adjudication, estoppel, or limitations. If the person does not
2855	have the assets or funds, the value of the assets or funds at
2856	the date of disposition, income from the assets or funds, and
2857	gain received by the person from the assets or funds shall be
2858	returned.
2859	Section 11.  Part XI of chapter 736, Florida Statutes,
2860	consisting of sections 736.1101, 736.1102, 736.1103, 736.1104,
2861	736.1105, 736.1106, 736.1107, and 736.1108, is created to read:
2862
2863	PART XI
2864	RULES OF CONSTRUCTION
2865
2866	736.1101  Rules of construction; general
2867	provisions.--Except as provided in s. 736.0105(2):
2868	(1)  The intent of the settlor as expressed in the terms of
2869	the trust controls the legal effect of the dispositions made in
2870	the trust.
2871	(2)  The rules of construction as expressed in this part
2872	shall apply unless a contrary intent is indicated by the terms
2873	of the trust.
2874	736.1102  Construction of generic terms.--Adopted persons
2875	and persons born out of wedlock are included in class gift
2876	terminology and terms of relationship, in accordance with rules
2877	for determining relationships for purposes of intestate
2878	succession.
2879	736.1103  Gifts to multi-generation classes to be per
2880	stirpes.--Class gifts to descendants, issue, and other multi-
2881	multi-generation classes shall be per stirpes.
2882	736.1104  Killer not entitled to receive property or other
2883	benefits by reason of victim's death.--
2884	(1)  A beneficiary of a trust who unlawfully and
2885	intentionally kills or unlawfully and intentionally participates
2886	in procuring the death of the settlor or another person on whose
2887	death such beneficiary's interest depends, is not entitled to
2888	any trust interest, including homestead, dependent on the
2889	victim's death and such interest shall devolve as though the
2890	killer had predeceased the victim.
2891	(2)  A final judgment of conviction of murder in any degree
2892	is conclusive for the purposes of this section. In the absence
2893	of a murder conviction in any degree, the court may determine by
2894	the greater weight of the evidence whether the killing was
2895	unlawful and intentional for purposes of this section.
2896	736.1105  Dissolution of marriage; effect on revocable
2897	trust.--Unless the trust instrument or the judgment for
2898	dissolution of marriage or divorce expressly provides otherwise,
2899	if a revocable trust is executed by a husband or wife as settlor
2900	prior to annulment of the marriage or entry of a judgment for
2901	dissolution of marriage or divorce of the settlor from the
2902	settlor's spouse, any provision of the trust that affects the
2903	settlor's spouse will become void upon annulment of the marriage
2904	or entry of the judgment of dissolution of marriage or divorce
2905	and any such trust shall be administered and construed as if the
2906	settlor's spouse had died on the date of the annulment or on
2907	entry of the judgment for dissolution of marriage or divorce.
2908	736.1106  Antilapse; survivorship with respect to future
2909	interests under terms of inter vivos and testamentary trusts;
2910	substitute takers.--
2911	(1)  As used in this section, the term:
2912	(a)  "Beneficiary" means the beneficiary of a future
2913	interest and includes a class member if the future interest is
2914	in the form of a class gift.
2915	(b)  "Distribution date," with respect to a future
2916	interest, means the time when the future interest is to take
2917	effect in possession or enjoyment. The distribution date need
2918	not occur at the beginning or end of a calendar day, but can
2919	occur at a time during the course of a day.
2920	(c)  "Future interest" includes an alternative future
2921	interest and a future interest in the form of a class gift.
2922	(d)  "Future interest under the terms of a trust" means a
2923	future interest created by an inter vivos or testamentary
2924	transfer to an existing trust or creating a trust or by an
2925	exercise of a power of appointment to an existing trust
2926	directing the continuance of an existing trust, designating a
2927	beneficiary of an existing trust, or creating a trust.
2928	(e)  "Surviving beneficiary" or "surviving descendant"
2929	means a beneficiary or a descendant who did not predecease the
2930	distribution date or is not deemed to have predeceased the
2931	distribution date by operation of law.
2932	(2)  A future interest under the terms of a trust is
2933	contingent upon the beneficiary surviving the distribution date.
2934	Unless a contrary intent appears in the trust instrument, if a
2935	beneficiary of a future interest under the terms of a trust
2936	fails to survive the distribution date, and the deceased
2937	beneficiary leaves surviving descendants, a substitute gift is
2938	created in the beneficiary's surviving descendants. They take
2939	per stirpes the property to which the beneficiary would have
2940	been entitled if the beneficiary had survived the distribution
2941	date.
2942	(3)  In the application of this section:
2943	(a)  Words of survivorship attached to a future interest
2944	are a sufficient indication of an intent contrary to the
2945	application of this section.
2946	(b)  A residuary clause in a will is not a sufficient
2947	indication of an intent contrary to the application of this
2948	section, whether or not the will specifically provides that
2949	lapsed or failed devises are to pass under the residuary clause.
2950	(4)  If, after the application of subsections (2) and (3),
2951	there is no surviving taker, the property passes in the
2952	following order:
2953	(a)  If the future interest was created by the exercise of
2954	a power of appointment, the property passes under the donor's
2955	gift-in-default clause, if any, which clause is treated as
2956	creating a future interest under the terms of a trust.
2957	(b)  If no taker is produced by the application of
2958	paragraph (a) and the trust was created in a nonresiduary devise
2959	or appointment in the transferor's will, the property passes
2960	under the residuary clause in the transferor's will. For
2961	purposes of this section, the residuary clause is treated as
2962	creating a future interest under the terms of a trust.
2963	(c)  If no taker is produced by the application of
2964	paragraph (a) or paragraph (b), the property passes to those
2965	persons, including the state, and in such shares as would
2966	succeed to the transferor's intestate estate under the intestate
2967	succession law of the transferor's domicile if the transferor
2968	died when the disposition is to take effect in possession or
2969	enjoyment.
2970
2971	For purposes of paragraphs (b) and (c), the term "transferor"
2972	with respect to a future interest created by the exercise of a
2973	power of appointment, means the donor if the power was a
2974	nongeneral power and the donee if the power was a general power.
2975	(5)  This section applies to all trusts other than trusts
2976	that were irrevocable before the effective date of this code.
2977	736.1107  Change in securities; accessions;
2978	nonademption.--A gift of specific securities, rather than their
2979	equivalent value, entitles the beneficiary only to:
2980	(1)  As much of the gifted securities of the same issuer
2981	held by the trust estate at the time of the occurrence of the
2982	event entitling the beneficiary to distribution.
2983	(2)  Any additional or other securities of the same issuer
2984	held by the trust estate because of action initiated by the
2985	issuer, excluding any acquired by exercise of purchase options.
2986	(3)  Securities of another issuer held by the trust estate
2987	as a result of a merger, consolidation, reorganization, or other
2988	similar action initiated by the original issuer.
2989	736.1108  Penalty clause for contest.--
2990	(1)  A provision in a trust instrument purporting to
2991	penalize any interested person for contesting the trust
2992	instrument or instituting other proceedings relating to a trust
2993	estate or trust assets is unenforceable.
2994	(2)  This section applies to trusts created on or after
2995	October 1, 1993. For purposes of this subsection, a revocable
2996	trust shall be treated as created when the right of revocation
2997	terminates.
2998	Section 12.  Part XII of chapter 736, Florida Statutes,
2999	consisting of sections 736.1201, 736.1202, 736.1203, 736.1204,
3000	736.1205, 736.1206, 736.1207, 736.1208, 736.1209, and 736.1210,
3001	is created to read:
3002
3003	PART XII
3004	CHARITABLE TRUSTS
3005
3006	736.1201  Definitions.--As used in this part:
3007	(1)  "Charitable organization" means an organization
3008	described in s. 501(c)(3) of the Internal Revenue Code and
3009	exempt from tax under s. 501(a) of the Internal Revenue Code.
3010	(2)  "Internal Revenue Code" means the Internal Revenue
3011	Code of 1986, as amended.
3012	(3)  "Private foundation trust" means a trust, including a
3013	trust described in s. 4947(a)(1) of the Internal Revenue Code,
3014	as defined in s. 509(a) of the Internal Revenue Code.
3015	(4)  "Split interest trust" means a trust for individual
3016	and charitable beneficiaries that is subject to the provisions
3017	of s. 4947(a)(2) of the Internal Revenue Code.
3018	(5)  "State attorney" means the state attorney for the
3019	judicial circuit of the principal place of administration of the
3020	trust pursuant to s. 736.0108.
3021	736.1202  Application of this part.--Except as otherwise
3022	provided in the trust, the provisions of this part apply to all
3023	private foundation trusts and split interest trusts, whether
3024	created or established before or after November 1, 1971, and to
3025	all trust assets acquired by the trustee before or after
3026	November 1, 1971.
3027	736.1203  Trustee of a private foundation trust or a split
3028	interest trust.--Except as provided in s. 736.1205, the trustee
3029	of a private foundation trust or a split interest trust has the
3030	duties and powers conferred on the trustee by this part.
3031	736.1204  Powers and duties of trustee of a private
3032	foundation trust or a split interest trust.--
3033	(1)  In the exercise of a trustee's powers, including the
3034	powers granted by this part, a trustee has a duty to act with
3035	due regard to the trustee's obligation as a fiduciary, including
3036	a duty not to exercise any power in such a way as to:
3037	(a)  Deprive the trust of an otherwise available tax
3038	exemption, deduction, or credit for tax purposes;
3039	(b)  Deprive a donor of a trust asset or tax deduction or
3040	credit; or
3041	(c)  Operate to impose a tax on a donor, trust, or other
3042	person.
3043
3044	For purposes of this subsection, the term "tax" includes, but is
3045	not limited to, any federal, state, or local excise, income,
3046	gift, estate, or inheritance tax.
3047	(2)  Except as provided in s. 736.1205, a trustee of a
3048	private foundation trust shall make distributions at such time
3049	and in such manner as not to subject the trust to tax under s.
3050	4942 of the Internal Revenue Code.
3051	(3)  Except as provided in subsection (4) and in s.
3052	736.1205, a trustee of a private foundation trust, or a split
3053	interest trust to the extent that the split interest trust is
3054	subject to the provisions of s. 4947(a)(2) of the Internal
3055	Revenue Code, in the exercise of the trustee's powers shall not:
3056	(a)  Engage in any act of self-dealing as defined in s.
3057	4941(d) of the Internal Revenue Code;
3058	(b)  Retain any excess business holdings as defined in s.
3059	4943(c) of the Internal Revenue Code;
3060	(c)  Make any investments in a manner that subjects the
3061	foundation to tax under s. 4944 of the Internal Revenue Code; or
3062	(d)  Make any taxable expenditures as defined in s. 4945(d)
3063	of the Internal Revenue Code.
3064	(4)  Paragraphs (3)(b) and (c) shall not apply to a split
3065	interest trust if:
3066	(a)  All the interest from income, and none of the
3067	remainder interest, of the trust is devoted solely to one or
3068	more of the purposes described in s. 170(c)(2)(B) of the
3069	Internal Revenue Code, and all amounts in the trust for which a
3070	deduction was allowed under s. 170, s. 545(b)(2), s. 556(b)(2),
3071	s. 642(c), s. 2055, s. 2106(a)(2), or s. 2522 of the Internal
3072	Revenue Code have an aggregate fair market value of not more
3073	than 60 percent of the aggregate fair market value of all
3074	amounts in the trust; or
3075	(b)  A deduction was allowed under s. 170, s. 545(b)(2), s.
3076	556(b)(2), s. 642(c), s. 2055, s. 2106(a)(2), or s. 2522 of the
3077	Internal Revenue Code for amounts payable under the terms of the
3078	trust to every remainder beneficiary but not to any income
3079	beneficiary.
3080	736.1205  Notice that this part does not apply.--In the
3081	case of a power to make distributions, if the trustee determines
3082	that the governing instrument contains provisions that are more
3083	restrictive than s. 736.1204(2), or if the trust contains other
3084	powers, inconsistent with the provisions of s. 736.1204(3) that
3085	specifically direct acts by the trustee, the trustee shall
3086	notify the state attorney when the trust becomes subject to this
3087	part. Section 736.1204 does not apply to any trust for which
3088	notice has been given pursuant to this section unless the trust
3089	is amended to comply with the terms of this part.
3090	736.1206  Power to amend trust instrument.--
3091	(1)  In the case of a trust that is solely for a named
3092	charitable organization or organizations and for which the
3093	trustee does not possess any discretion concerning the
3094	distribution of income or principal among two or more such
3095	organizations, the trustee may amend the governing instrument to
3096	comply with the provisions of s. 736.1204(2) with the consent of
3097	the named charitable organization or organizations.
3098	(2)  In the case of a charitable trust that is not subject
3099	to the provisions of subsection (1), the trustee may amend the
3100	governing instrument to comply with the provisions of s.
3101	736.1204(2) with the consent of the state attorney.
3102	736.1207  Power of court to permit deviation.--This part
3103	does not affect the power of a court to relieve a trustee from
3104	any restrictions on the powers and duties that are placed on the
3105	trustee by the governing instrument or applicable law for cause
3106	shown and on complaint of the trustee, state attorney, or an
3107	affected beneficiary and notice to the affected parties.
3108	736.1208  Release; property and persons affected; manner of
3109	effecting.--
3110	(1)  The trustee of a trust, all of the unexpired interests
3111	in which are devoted to one or more charitable purposes, may
3112	release a power to select charitable donees unless the creating
3113	instrument provides otherwise.
3114	(2)  The release of a power to select charitable donees may
3115	apply to all or any part of the property subject to the power
3116	and may reduce or limit the charitable organizations, or classes
3117	of charitable organizations, in whose favor the power is
3118	exercisable.
3119	(3)  A release shall be effected by a duly acknowledged
3120	written instrument signed by the trustee and delivered as
3121	provided in subsection (4).
3122	(4)  Delivery of a release shall be accomplished as
3123	follows:
3124	(a)  If the release is accomplished by specifying a
3125	charitable organization or organizations as beneficiary or
3126	beneficiaries of the trust, by delivery of a copy of the release
3127	to each designated charitable organization.
3128	(b)  If the release is accomplished by reducing the class
3129	of permissible charitable organizations, by delivery of a copy
3130	of the release to the state attorney.
3131	(5)  If a release is accomplished by specifying a public
3132	charitable organization or organizations as beneficiary or
3133	beneficiaries of the trust, the trust at all times thereafter
3134	shall be operated exclusively for the benefit of, and be
3135	supervised by, the specified public charitable organization or
3136	organizations.
3137	736.1209  Election to come under this part.--With the
3138	consent of that organization or organizations, a trustee of a
3139	trust for the benefit of a public charitable organization or
3140	organizations may come under s. 736.0838(5) by filing with the
3141	state attorney an election, accompanied by the proof of required
3142	consent. Thereafter the trust shall be subject to s.
3143	736.1208(5).
3144	736.1210  Interpretation.--This part shall be interpreted
3145	to effectuate the intent of the state to preserve, foster, and
3146	encourage gifts to, or for the benefit of, charitable
3147	organizations.
3148	Section 13.  Part XIII of chapter 736, Florida Statutes,
3149	consisting of sections 736.1301, 736.1302, and 736.1303, is
3150	created to read:
3151
3152	PART XIII
3153	MISCELLANEOUS
3154
3155	736.1301  Electronic records and signatures.--Any
3156	provisions of this code governing the legal effect, validity, or
3157	enforceability of electronic records or electronic signatures,
3158	and of contracts formed or performed with the use of such
3159	records or signatures, are deemed to conform to the requirements
3160	of s. 102 of the Electronic Signatures in Global and National
3161	Commerce Act, 15 U.S.C. s. 7002, and supersede, modify, and
3162	limit the requirements of the Electronic Signatures in Global
3163	and National Commerce Act.
3164	736.1302  Severability clause.--If any provision of this
3165	code or its application to any person or circumstances is held
3166	invalid, the invalidity does not affect other provisions or
3167	applications of this code that can be given effect without the
3168	invalid provision or application, and to this end the provisions
3169	of this code are severable.
3170	736.1303  Application to existing relationships.--
3171	(1)  Except as otherwise provided in this code, on July 1,
3172	2007:
3173	(a)  This code applies to all trusts created before, on, or
3174	after such date.
3175	(b)  This code applies to all judicial proceedings
3176	concerning trusts commenced on or after such date.
3177	(c)  This code applies to judicial proceedings concerning
3178	trusts commenced before such date, unless the court finds that
3179	application of a particular provision of this code would
3180	substantially interfere with the effective conduct of the
3181	judicial proceedings or prejudice the rights of the parties, in
3182	which case the particular provision of this code does not apply
3183	and the superseded law applies.
3184	(d)  Any rule of construction or presumption provided in
3185	this code applies to trust instruments executed before the
3186	effective date of this code unless there is a clear indication
3187	of a contrary intent in the terms of the trust.
3188	(e)  An act done before such date is not affected by this
3189	code.
3190	(2)  If a right is acquired, extinguished, or barred on the
3191	expiration of a prescribed period that has commenced to run
3192	under any other law before July 1, 2007, that law continues to
3193	apply to the right even if it has been repealed or superseded.
3194	Section 14.  Paragraph (a) of subsection (5) of section
3195	497.458, Florida Statutes, is amended to read:
3196	497.458  Disposition of proceeds received on contracts.--
3197	(5)  The trustee of the trust established pursuant to this
3198	section shall only have the power to:
3199	(a)  Invest in investments as prescribed in s. 215.47 and
3200	exercise the powers set forth in part VIII of chapter 736 part
3201	IV of chapter 737, provided that the licensing authority may by
3202	order require the trustee to liquidate or dispose of any
3203	investment within 30 days after such order, or within such other
3204	times as the order may direct. The licensing authority may issue
3205	such order if it determines that the investment violates any
3206	provision of this chapter or is not in the best interests of the
3207	preneed contract holders whose contracts are secured by the
3208	trust funds.
3209	Section 15.  Section 518.117, Florida Statutes, is created
3210	to read:
3211	518.117  Permissible investments of fiduciary funds.--A
3212	fiduciary that is authorized by lawful authority to engage in
3213	trust business as defined in s. 658.12(20) may invest fiduciary
3214	funds in accordance with s. 660.417 so long as the investment
3215	otherwise complies with this chapter.
3216	Section 16.  Subsection (2) of section 607.0802, Florida
3217	Statutes, is amended to read:
3218	607.0802  Qualifications of directors.--
3219	(2)  In the event that the eligibility to serve as a member
3220	of the board of directors of a condominium association,
3221	cooperative association, homeowners' association, or mobile home
3222	owners' association is restricted to membership in such
3223	association and membership is appurtenant to ownership of a
3224	unit, parcel, or mobile home, a grantor of a trust described in
3225	s. 733.707(3), or a qualified beneficiary as defined in s.
3226	736.0103(14) 737.303(4)(b) of a trust which owns a unit, parcel,
3227	or mobile home shall be deemed a member of the association and
3228	eligible to serve as a director of the condominium association,
3229	cooperative association, homeowners' association, or mobile home
3230	owners' association, provided that said beneficiary occupies the
3231	unit, parcel, or mobile home.
3232	Section 17.  Subsection (2) of section 617.0802, Florida
3233	Statutes, is amended to read:
3234	617.0802  Qualifications of directors.--
3235	(2)  In the event that the eligibility to serve as a member
3236	of the board of directors of a condominium association,
3237	cooperative association, homeowners' association, or mobile home
3238	owners' association is restricted to membership in such
3239	association and membership is appurtenant to ownership of a
3240	unit, parcel, or mobile home, a grantor of a trust described in
3241	s. 733.707(3), or a qualified beneficiary as defined in s.
3242	736.0103(14) 737.303(4)(b) of a trust which owns a unit, parcel,
3243	or mobile home shall be deemed a member of the association and
3244	eligible to serve as a director of the condominium association,
3245	cooperative association, homeowners' association, or mobile home
3246	owners' association, provided that said beneficiary occupies the
3247	unit, parcel, or mobile home.
3248	Section 18.  Subsection (6) of section 660.25, Florida
3249	Statutes, renumbered as subsection (7) and amended, and a new
3250	subsection (6) is added to that section, to read:
3251	660.25  Definitions.--Subject to other definitions
3252	contained in other sections of this code, and unless the context
3253	otherwise requires, in this chapter:
3254	(6)  "Investment instrument" means any security as defined
3255	in s. 2(a)(1) of the Securities Act of 1933; any security of an
3256	open-end or closed-end management investment company or
3257	investment trust registered under the Investment Company Act of
3258	1940, 15 U.S.C. ss. 80a-1 et seq., as amended; any contract of
3259	sale of a commodity for future delivery within the meaning of s.
3260	2(i) of the Commodity Exchange Act; or any other interest in
3261	securities, including, but not limited to, shares or interests
3262	in a private investment fund, including, but not limited to, a
3263	private investment fund organized as a limited partnership, a
3264	limited liability company, a statutory or common law business
3265	trust, a statutory trust, or a real estate investment trust, a
3266	joint venture, or any other general or limited partnership;
3267	derivatives or other interests of any nature in securities such
3268	as options, options on futures, and variable forward contracts;
3269	mutual funds; common trust funds; money market funds; hedge
3270	funds; private equity or venture capital funds; insurance
3271	contracts; and other entities or vehicles investing in
3272	securities or interests in securities whether registered or
3273	otherwise.
3274	(7)(6)  Terms used but not defined in this chapter, but
3275	which are expressly defined in chapter 518, the financial
3276	institutions codes, chapter 732, chapter 733, chapter 734,
3277	chapter 735, chapter 736 737, chapter 738, chapter 744, or
3278	chapter 747, shall in this chapter, unless the context otherwise
3279	requires, have the meanings ascribed to them in said chapters;
3280	and references in any of said chapters to a "trust company" or
3281	to "trust companies" shall include every trust department as
3282	defined in s. 658.12.
3283	Section 19.  Section 660.417, Florida Statutes, is amended
3284	to read:
3285	660.417  Investment of fiduciary funds in investment
3286	instruments into mutual fund accounts; permissible activity
3287	under certain circumstances; limitations.--
3288	(1)  In addition to other investments authorized by law for
3289	the investment of funds held by a fiduciary, or by the
3290	instrument governing the fiduciary relationship, and
3291	notwithstanding any other provision of law, a bank or trust
3292	company acting as a fiduciary, agent or otherwise may, in the
3293	exercise of its investment discretion or at the direction of
3294	another person authorized to direct investment of funds held by
3295	the bank or trust company as fiduciary, invest and reinvest in
3296	investment instruments the securities of an open-end or closed-
3297	end management investment company or investment trust registered
3298	under the Investment Company Act of 1940, 15 U.S.C. ss. 80a-1 et
3299	seq., as amended, so long as the portfolio of such investment
3300	instruments consist company or investment trust consists
3301	substantially of investments not prohibited by the governing
3302	instrument.
3303	(2)  The fact that such bank or trust company or an
3304	affiliate of the bank or trust company provides services with
3305	respect to the investment instruments company or investment
3306	trust such as that of an investment adviser, administrator,
3307	broker, custodian, transfer agent, placement agent, servicing
3308	agent, registrar, underwriter, sponsor, distributor, or manager
3309	or in any other capacity, otherwise and is receiving reasonable
3310	compensation for those services, shall not preclude such bank or
3311	trust company from investing or reinvesting in investment
3312	instruments the securities of the open-end or closed-end
3313	management investment trust registered under the Investment
3314	Company Act of 1940, 15 U.S.C. ss. 80a-1 et seq., as amended.
3315	However, with respect to any funds so invested, the basis
3316	(expressed as a percentage of asset value or otherwise) upon
3317	which such compensation is calculated shall be disclosed (by
3318	prospectus, account statement or otherwise) to all persons to
3319	whom statements of such account are rendered.
3320	(3)  The fact that such bank or trust company or an
3321	affiliate of the bank or trust company owns or controls
3322	investment instruments shall not preclude the bank or trust
3323	company acting as a fiduciary from investing or reinvesting in
3324	such investment instruments, provided such investment
3325	instruments:
3326	(a)  Are held for sale by the bank or trust company or by
3327	an affiliate of the bank or trust company in the ordinary course
3328	of its business of providing investment services to its
3329	customers and do not include any such interests held by the bank
3330	or trust company or by an affiliate of the bank or trust company
3331	for its own account.
3332	(b)  Are sold primarily to accounts for which the bank or
3333	trust company is not acting as a fiduciary upon terms that are
3334	not more favorable to the buyer than the terms upon which they
3335	are sold to accounts for which the bank or trust company is
3336	acting as a fiduciary.
3337	Section 20.  Paragraphs (a), (d), and (e) of subsection (1)
3338	and subsections (2), (3), (9), and (10) of section 660.46,
3339	Florida Statutes, are amended to read:
3340	660.46  Substitution of fiduciaries.--
3341	(1)  The provisions of this section shall apply to the
3342	transfer of fiduciary accounts by substitution, and for those
3343	purposes these provisions shall constitute alternative
3344	procedures to those provided or required by any other provisions
3345	of law relating to the transfer of fiduciary accounts or the
3346	substitution of persons acting or who are to act in a fiduciary
3347	capacity. In this section, and only for its purposes, the term:
3348	(a)  "Limitation notice" has the meaning ascribed in s.
3349	736.1008(4) 737.307(3).
3350	(d)  "Trust accounting" has the meaning ascribed in s.
3351	736.08135 737.3035.
3352	(e)  "Trust disclosure document" has the meaning ascribed
3353	in s. 736.1008(4)(a) 737.307(2).
3354	(2)  Any original fiduciary and any proposed substitute
3355	fiduciary may, with respect to any fiduciary account or accounts
3356	which they shall mutually select, initiate proceedings by
3357	joining in the filing of a petition in the circuit court,
3358	requesting the substitution of the proposed substitute fiduciary
3359	for the original fiduciary as to such fiduciary account or
3360	accounts. The petition may be filed in the county in which the
3361	main office of the original fiduciary is located and, except to
3362	the extent inconsistent with the provisions of this section,
3363	shall be governed by the Florida Rules of Civil Procedure;
3364	however, if any fiduciary account is then the subject of a
3365	proceeding in a court in this state pursuant to the Florida
3366	Probate Code, the Florida Guardianship Law, chapter 736 737, or
3367	chapter 747, the petition relating to such fiduciary account
3368	shall be filed in that proceeding and shall be governed by the
3369	procedural or other relevant rules applicable to such proceeding
3370	except to the extent inconsistent with the provisions of this
3371	section.
3372	(3)  Unless a waiver or consent shall be filed in the
3373	proceedings as provided in subsection (4), the provisions of s.
3374	731.301(1) and (2) shall apply with respect to notice of the
3375	proceedings to all persons who are then cofiduciaries with the
3376	original fiduciary, other than a person joining as a petitioner
3377	in the proceedings; to all persons named in the governing
3378	instrument as substitutes or successors to the fiduciary
3379	capacity of the original fiduciary; to the persons then living
3380	who are entitled under the governing instrument to appoint a
3381	substitute or successor to act in the fiduciary capacity of the
3382	original fiduciary; to all vested beneficiaries of the fiduciary
3383	account; and to all then-living originators of the governing
3384	instrument. Unless a waiver or consent shall be filed in the
3385	proceedings as provided in subsection (4), the provisions of s.
3386	731.301 shall apply with respect to notice to all contingent
3387	beneficiaries of the fiduciary account. Only the persons or
3388	classes of persons described in the foregoing provisions of this
3389	subsection shall be deemed to be interested persons for the
3390	purposes of this section and the proceedings and notices
3391	provided for in this section; and the provisions of ss.
3392	731.301(3) and 731.303(3) and, (4), and (5), part III of chapter
3393	736, relating to notice requirements, the effect of notice, and
3394	representation of interests, shall apply to the proceedings
3395	provided for in this section.
3396	(9)  Unless previously or otherwise barred by adjudication,
3397	waiver, consent, limitation, or the provisions of subsection
3398	(8), an action for breach of trust or breach of fiduciary duties
3399	or responsibilities against an original fiduciary in whose place
3400	and stead another trust company or trust department has been
3401	substituted pursuant to the provisions of this section is barred
3402	for any beneficiary who has received a trust disclosure document
3403	adequately disclosing the matter unless a proceeding to assert
3404	the claim is commenced within 6 months after receipt of the
3405	trust disclosure document or the limitation notice that applies
3406	to the trust disclosure document, whichever is received later.
3407	In any event, and notwithstanding lack of adequate disclosure,
3408	all claims against such original fiduciary which has complied
3409	with the requirements of s. 736.1008 issued a final trust
3410	disclosure document received by the beneficiary and has informed
3411	the beneficiary of the location and availability of records for
3412	his or her examination are barred as provided in chapter 95.
3413	Section 736.1008(4)(a) and (c) 737.307(2) and (3) applies to
3414	this subsection.
3415	(10)  A beneficiary has received a final trust disclosure
3416	document or a limitation notice if, when the beneficiary is an
3417	adult, it is received by him or her or if, when the beneficiary
3418	is a minor or a disabled person, it is received by his or her
3419	representative as provided in part III of chapter 736 defined in
3420	s. 731.303.
3421	Section 21.  Section 660.418, Florida Statutes, is amended
3422	to read:
3423	660.418  Investment of fiduciary funds in syndicate
3424	securities.--Notwithstanding any other provision of law, any
3425	financial institution with fiduciary powers may, in its
3426	fiduciary capacity, purchase bonds or other securities
3427	underwritten or otherwise distributed by the financial
3428	institution or by a syndicate that includes the financial
3429	institution, or an affiliate of the financial institution,
3430	provided that such purchase is made through a licensed
3431	securities dealer, is otherwise prudent, and is not prohibited
3432	by the instrument governing the fiduciary relationship and that
3433	disclosure is made at least annually to those persons entitled
3434	to a statement of accounts pursuant to s. 736.0813 737.303(4)
3435	indicating that such securities have been or may be purchased.
3436	This section applies to purchases of bonds or other securities
3437	made at the time of the initial offering of such bonds or
3438	securities or at any time after such initial offering.
3439	Section 22.  Subsection (5) of section 689.071, Florida
3440	Statutes, is amended to read:
3441	689.071  Land trusts transferring interests in real estate;
3442	ownership vests in trustee.--
3443	(5)  In addition to any other limitation on personal
3444	liability existing pursuant to statute or otherwise, the
3445	provisions of s. 736.1013 737.306 apply to the trustee of a land
3446	trust created pursuant to this section.
3447	Section 23.  Subsections (1) and (4) of section 689.075,
3448	Florida Statutes, are amended to read:
3449	689.075  Inter vivos trusts; powers retained by settlor.--
3450	(1)  A trust which is otherwise valid and which complies
3451	with s. 736.0403 737.111, including, but not limited to, a trust
3452	the principal of which is composed of real property, intangible
3453	personal property, tangible personal property, the possible
3454	expectancy of receiving as a named beneficiary death benefits as
3455	described in s. 733.808, or any combination thereof, and which
3456	has been created by a written instrument shall not be held
3457	invalid or an attempted testamentary disposition for any one or
3458	more of the following reasons:
3459	(a)  Because the settlor or another person or both possess
3460	the power to revoke, amend, alter, or modify the trust in whole
3461	or in part;
3462	(b)  Because the settlor or another person or both possess
3463	the power to appoint by deed or will the persons and
3464	organizations to whom the income shall be paid or the principal
3465	distributed;
3466	(c)  Because the settlor or another person or both possess
3467	the power to add to, or withdraw from, the trust all or any part
3468	of the principal or income at one time or at different times;
3469	(d)  Because the settlor or another person or both possess
3470	the power to remove the trustee or trustees and appoint a
3471	successor trustee or trustees;
3472	(e)  Because the settlor or another person or both possess
3473	the power to control the trustee or trustees in the
3474	administration of the trust;
3475	(f)  Because the settlor has retained the right to receive
3476	all or part of the income of the trust during her or his life or
3477	for any part thereof; or
3478	(g)  Because the settlor is, at the time of the execution
3479	of the instrument, or thereafter becomes, sole trustee.
3480	(4)  This section shall be applicable to trusts executed
3481	before or after July 1, 1969, by persons who are living on or
3482	after said date. However, the requirement of conformity with the
3483	formalities for the execution of wills as found in paragraph
3484	(1)(g) shall not be imposed upon any trust executed prior to
3485	July 1, 1969.
3486	Section 24.  Section 689.175, Florida Statutes, is created
3487	to read:
3488	689.175  Worthier title doctrine abolished.--The doctrine
3489	of worthier title is abolished as a rule of law and as a rule of
3490	construction. Language in a governing instrument describing the
3491	beneficiaries of a disposition as the transferor's "heirs,"
3492	"heirs at law," "next of kin," "distributees," "relatives," or
3493	"family," or language of similar import, does not create or
3494	presumptively create a reversionary interest in the transferor.
3495	Section 25.  Subsection (8) of section 709.08, Florida
3496	Statutes, is amended to read:
3497	709.08  Durable power of attorney.--
3498	(8)  STANDARD OF CARE.--Except as otherwise provided in
3499	paragraph (4)(e), an attorney in fact is a fiduciary who must
3500	observe the standards of care applicable to trustees as
3501	described in s. 736.0901 737.302. The attorney in fact is not
3502	liable to third parties for any act pursuant to the durable
3503	power of attorney if the act was authorized at the time. If the
3504	exercise of the power is improper, the attorney in fact is
3505	liable to interested persons as described in s. 731.201 for
3506	damage or loss resulting from a breach of fiduciary duty by the
3507	attorney in fact to the same extent as the trustee of an express
3508	trust.
3509	Section 26.  Paragraph (c) of subsection (2) of section
3510	721.08, Florida Statutes, is amended to read:
3511	721.08  Escrow accounts; nondisturbance instruments;
3512	alternate security arrangements; transfer of legal title.--
3513	(2)  One hundred percent of all funds or other property
3514	which is received from or on behalf of purchasers of the
3515	timeshare plan or timeshare interest prior to the occurrence of
3516	events required in this subsection shall be deposited pursuant
3517	to an escrow agreement approved by the division. The funds or
3518	other property may be released from escrow only as follows:
3519	(c)  Compliance with conditions.--
3520	1.  Timeshare licenses.--If the timeshare plan is one in
3521	which timeshare licenses are to be sold and no cancellation or
3522	default has occurred, the escrow agent may release the escrowed
3523	funds or other property to or on the order of the developer upon
3524	presentation of:
3525	a.  An affidavit by the developer that all of the following
3526	conditions have been met:
3527	(I)  Expiration of the cancellation period.
3528	(II)  Completion of construction.
3529	(III)  Closing.
3530	(IV)  Either:
3531	(A)  Execution, delivery, and recordation by each
3532	interestholder of the nondisturbance and notice to creditors
3533	instrument, as described in this section; or
3534	(B)  Transfer by the developer of legal title to the
3535	subject accommodations and facilities, or all use rights
3536	therein, into a trust satisfying the requirements of
3537	subparagraph 4. and the execution, delivery, and recordation by
3538	each other interestholder of the nondisturbance and notice to
3539	creditors instrument, as described in this section.
3540	b.  A certified copy of each recorded nondisturbance and
3541	notice to creditors instrument.
3542	c.  One of the following:
3543	(I)  A copy of a memorandum of agreement, as defined in s.
3544	721.05, together with satisfactory evidence that the original
3545	memorandum of agreement has been irretrievably delivered for
3546	recording to the appropriate official responsible for
3547	maintaining the public records in the county in which the
3548	subject accommodations and facilities are located. The original
3549	memorandum of agreement must be recorded within 180 days after
3550	the date on which the purchaser executed her or his purchase
3551	agreement.
3552	(II)  A notice delivered for recording to the appropriate
3553	official responsible for maintaining the public records in each
3554	county in which the subject accommodations and facilities are
3555	located notifying all persons of the identity of an independent
3556	escrow agent or trustee satisfying the requirements of
3557	subparagraph 4. that shall maintain separate books and records,
3558	in accordance with good accounting practices, for the timeshare
3559	plan in which timeshare licenses are to be sold. The books and
3560	records shall indicate each accommodation and facility that is
3561	subject to such a timeshare plan and each purchaser of a
3562	timeshare license in the timeshare plan.
3563	2.  Timeshare estates.--If the timeshare plan is one in
3564	which timeshare estates are to be sold and no cancellation or
3565	default has occurred, the escrow agent may release the escrowed
3566	funds or other property to or on the order of the developer upon
3567	presentation of:
3568	a.  An affidavit by the developer that all of the following
3569	conditions have been met:
3570	(I)  Expiration of the cancellation period.
3571	(II)  Completion of construction.
3572	(III)  Closing.
3573	b.  If the timeshare estate is sold by agreement for deed,
3574	a certified copy of the recorded nondisturbance and notice to
3575	creditors instrument, as described in this section.
3576	c.  Evidence that each accommodation and facility:
3577	(I)  Is free and clear of the claims of any
3578	interestholders, other than the claims of interestholders that,
3579	through a recorded instrument, are irrevocably made subject to
3580	the timeshare instrument and the use rights of purchasers made
3581	available through the timeshare instrument;
3582	(II)  Is the subject of a recorded nondisturbance and
3583	notice to creditors instrument that complies with subsection (3)
3584	and s. 721.17; or
3585	(III)  Has been transferred into a trust satisfying the
3586	requirements of subparagraph 4.
3587	d.  Evidence that the timeshare estate:
3588	(I)  Is free and clear of the claims of any
3589	interestholders, other than the claims of interestholders that,
3590	through a recorded instrument, are irrevocably made subject to
3591	the timeshare instrument and the use rights of purchasers made
3592	available through the timeshare instrument; or
3593	(II)  Is the subject of a recorded nondisturbance and
3594	notice to creditors instrument that complies with subsection (3)
3595	and s. 721.17.
3596	3.  Personal property timeshare interests.--If the
3597	timeshare plan is one in which personal property timeshare
3598	interests are to be sold and no cancellation or default has
3599	occurred, the escrow agent may release the escrowed funds or
3600	other property to or on the order of the developer upon
3601	presentation of:
3602	a.  An affidavit by the developer that all of the following
3603	conditions have been met:
3604	(I)  Expiration of the cancellation period.
3605	(II)  Completion of construction.
3606	(III)  Closing.
3607	b.  If the personal property timeshare interest is sold by
3608	agreement for transfer, evidence that the agreement for transfer
3609	complies fully with s. 721.06 and this section.
3610	c.  Evidence that one of the following has occurred:
3611	(I)  Transfer by the owner of the underlying personal
3612	property of legal title to the subject accommodations and
3613	facilities or all use rights therein into a trust satisfying the
3614	requirements of subparagraph 4.; or
3615	(II)  Transfer by the owner of the underlying personal
3616	property of legal title to the subject accommodations and
3617	facilities or all use rights therein into an owners' association
3618	satisfying the requirements of subparagraph 5.
3619	d.  Evidence of compliance with the provisions of
3620	subparagraph 6., if required.
3621	e.  If a personal property timeshare plan is created with
3622	respect to accommodations and facilities that are located on or
3623	in an oceangoing vessel, including a "documented vessel" or a
3624	"foreign vessel," as defined and governed by 46 U.S.C., chapter
3625	301:
3626	(I)  In making the transfer required in sub-subparagraph
3627	c., the developer shall use as its transfer instrument a
3628	document that establishes and protects the continuance of the
3629	use rights in the subject accommodations and facilities in a
3630	manner that is enforceable by the trust or owners' association.
3631	(II)  The transfer instrument shall comply fully with the
3632	provisions of this chapter, shall be part of the timeshare
3633	instrument, and shall contain specific provisions that:
3634	(A)  Prohibit the vessel owner, the developer, any manager
3635	or operator of the vessel, the owners' association or the
3636	trustee, the managing entity, or any other person from incurring
3637	any liens against the vessel except for liens that are required
3638	for the operation and upkeep of the vessel, including liens for
3639	fuel expenditures, repairs, crews' wages, and salvage, and
3640	except as provided in sub-sub-subparagraphs 4.b.(III) and
3641	5.b.(III). All expenses, fees, and taxes properly incurred in
3642	connection with the creation, satisfaction, and discharge of any
3643	such permitted lien, or a prorated portion thereof if less than
3644	all of the accommodations on the vessel are subject to the
3645	timeshare plan, shall be common expenses of the timeshare plan.
3646	(B)  Grant a lien against the vessel in favor of the
3647	owners' association or trustee to secure the full and faithful
3648	performance of the vessel owner and developer of all of their
3649	obligations to the purchasers.
3650	(C)  Establish governing law in a jurisdiction that
3651	recognizes and will enforce the timeshare instrument and the
3652	laws of the jurisdiction of registry of the vessel.
3653	(D)  Require that a description of the use rights of
3654	purchasers be posted and displayed on the vessel in a manner
3655	that will give notice of such rights to any party examining the
3656	vessel. This notice must identify the owners' association or
3657	trustee and include a statement disclosing the limitation on
3658	incurring liens against the vessel described in sub-sub-sub-
3659	subparagraph (A).
3660	(E)  Include the nondisturbance and notice to creditors
3661	instrument for the vessel owner and any other interestholders.
3662	(F)  The owners' association created under subparagraph 5.
3663	or trustee created under subparagraph 4. shall have access to
3664	any certificates of classification in accordance with the
3665	timeshare instrument.
3666	(III)  If the vessel is a foreign vessel, the vessel must
3667	be registered in a jurisdiction that permits a filing evidencing
3668	the use rights of purchasers in the subject accommodations and
3669	facilities, offers protection for such use rights against
3670	unfiled and inferior claims, and recognizes the document or
3671	instrument creating such use rights as a lien against the
3672	vessel.
3673	(IV)  In addition to the disclosures required by s.
3674	721.07(5), the public offering statement and purchase contract
3675	must contain a disclosure in conspicuous type in substantially
3676	the following form:
3677
3678	The laws of the State of Florida govern the offering of this
3679	timeshare plan in this state. There are inherent risks in
3680	purchasing a timeshare interest in this timeshare plan because
3681	the accommodations and facilities of the timeshare plan are
3682	located on a vessel that will sail into international waters and
3683	into waters governed by many different jurisdictions. Therefore,
3684	the laws of the State of Florida cannot fully protect your
3685	purchase of an interest in this timeshare plan. Specifically,
3686	management and operational issues may need to be addressed in
3687	the jurisdiction in which the vessel is registered, which is
3688	(insert jurisdiction in which vessel is registered)  . Concerns
3689	of purchasers may be sent to   (insert name of applicable
3690	regulatory agency and address)  .
3691
3692	4.  Trust.--
3693	a.  If the subject accommodations or facilities, or all use
3694	rights therein, are to be transferred into a trust in order to
3695	comply with this paragraph, such transfer shall take place
3696	pursuant to this subparagraph.
3697	b.  Prior to the transfer by each interestholder of the
3698	subject accommodations and facilities, or all use rights
3699	therein, to a trust, any lien or other encumbrance against such
3700	accommodations and facilities, or use rights therein, shall be
3701	made subject to a nondisturbance and notice to creditors
3702	instrument pursuant to subsection (3). No transfer pursuant to
3703	this subparagraph shall become effective until the trustee
3704	accepts such transfer and the responsibilities set forth herein.
3705	A trust established pursuant to this subparagraph shall comply
3706	with the following provisions:
3707	(I)  The trustee shall be an individual or a business
3708	entity authorized and qualified to conduct trust business in
3709	this state. Any corporation authorized to do business in this
3710	state may act as trustee in connection with a timeshare plan
3711	pursuant to this chapter. The trustee must be independent from
3712	any developer or managing entity of the timeshare plan or any
3713	interestholder of any accommodation or facility of such plan.
3714	(II)  The trust shall be irrevocable so long as any
3715	purchaser has a right to occupy any portion of the timeshare
3716	property pursuant to the timeshare plan.
3717	(III)  The trustee shall not convey, hypothecate, mortgage,
3718	assign, lease, or otherwise transfer or encumber in any fashion
3719	any interest in or portion of the timeshare property with
3720	respect to which any purchaser has a right of use or occupancy
3721	unless the timeshare plan is terminated pursuant to the
3722	timeshare instrument, or such conveyance, hypothecation,
3723	mortgage, assignment, lease, transfer, or encumbrance is
3724	approved by a vote of two-thirds of all voting interests of the
3725	timeshare plan and such decision is declared by a court of
3726	competent jurisdiction to be in the best interests of the
3727	purchasers of the timeshare plan. The trustee shall notify the
3728	division in writing within 10 days after receiving notice of the
3729	filing of any petition relating to obtaining such a court order.
3730	The division shall have standing to advise the court of the
3731	division's interpretation of the statute as it relates to the
3732	petition.
3733	(IV)  All purchasers of the timeshare plan or the owners'
3734	association of the timeshare plan shall be the express
3735	beneficiaries of the trust. The trustee shall act as a fiduciary
3736	to the beneficiaries of the trust. The personal liability of the
3737	trustee shall be governed by ss. 736.08125, 736.08163, 736.1013,
3738	and 736.1015 s. 737.306. The agreement establishing the trust
3739	shall set forth the duties of the trustee. The trustee shall be
3740	required to furnish promptly to the division upon request a copy
3741	of the complete list of the names and addresses of the owners in
3742	the timeshare plan and a copy of any other books and records of
3743	the timeshare plan required to be maintained pursuant to s.
3744	721.13 that are in the possession, custody, or control of the
3745	trustee. All expenses reasonably incurred by the trustee in the
3746	performance of its duties, together with any reasonable
3747	compensation of the trustee, shall be common expenses of the
3748	timeshare plan.
3749	(V)  The trustee shall not resign upon less than 90 days'
3750	prior written notice to the managing entity and the division. No
3751	resignation shall become effective until a substitute trustee,
3752	approved by the division, is appointed by the managing entity
3753	and accepts the appointment.
3754	(VI)  The documents establishing the trust arrangement
3755	shall constitute a part of the timeshare instrument.
3756	(VII)  For trusts holding property in a timeshare plan
3757	located outside this state, the trust and trustee holding such
3758	property shall be deemed in compliance with the requirements of
3759	this subparagraph if such trust and trustee are authorized and
3760	qualified to conduct trust business under the laws of such
3761	jurisdiction and the agreement or law governing such trust
3762	arrangement provides substantially similar protections for the
3763	purchaser as are required in this subparagraph for trusts
3764	holding property in a timeshare plan in this state.
3765	(VIII)  The trustee shall have appointed a registered agent
3766	in this state for service of process. In the event such a
3767	registered agent is not appointed, service of process may be
3768	served pursuant to s. 721.265.
3769	5.  Owners' association.--
3770	a.  If the subject accommodations or facilities, or all use
3771	rights therein, are to be transferred into an owners'
3772	association in order to comply with this paragraph, such
3773	transfer shall take place pursuant to this subparagraph.
3774	b.  Prior to the transfer by each interestholder of the
3775	subject accommodations and facilities, or all use rights
3776	therein, to an owners' association, any lien or other
3777	encumbrance against such accommodations and facilities, or use
3778	rights therein, shall be made subject to a nondisturbance and
3779	notice to creditors instrument pursuant to subsection (3). No
3780	transfer pursuant to this subparagraph shall become effective
3781	until the owners' association accepts such transfer and the
3782	responsibilities set forth herein. An owners' association
3783	established pursuant to this subparagraph shall comply with the
3784	following provisions:
3785	(I)  The owners' association shall be a business entity
3786	authorized and qualified to conduct business in this state.
3787	Control of the board of directors of the owners' association
3788	must be independent from any developer or managing entity of the
3789	timeshare plan or any interestholder.
3790	(II)  The bylaws of the owners' association shall provide
3791	that the corporation may not be voluntarily dissolved without
3792	the unanimous vote of all owners of personal property timeshare
3793	interests so long as any purchaser has a right to occupy any
3794	portion of the timeshare property pursuant to the timeshare
3795	plan.
3796	(III)  The owners' association shall not convey,
3797	hypothecate, mortgage, assign, lease, or otherwise transfer or
3798	encumber in any fashion any interest in or portion of the
3799	timeshare property with respect to which any purchaser has a
3800	right of use or occupancy, unless the timeshare plan is
3801	terminated pursuant to the timeshare instrument, or unless such
3802	conveyance, hypothecation, mortgage, assignment, lease,
3803	transfer, or encumbrance is approved by a vote of two-thirds of
3804	all voting interests of the association and such decision is
3805	declared by a court of competent jurisdiction to be in the best
3806	interests of the purchasers of the timeshare plan. The owners'
3807	association shall notify the division in writing within 10 days
3808	after receiving notice of the filing of any petition relating to
3809	obtaining such a court order. The division shall have standing
3810	to advise the court of the division's interpretation of the
3811	statute as it relates to the petition.
3812	(IV)  All purchasers of the timeshare plan shall be members
3813	of the owners' association and shall be entitled to vote on
3814	matters requiring a vote of the owners' association as provided
3815	in this chapter or the timeshare instrument. The owners'
3816	association shall act as a fiduciary to the purchasers of the
3817	timeshare plan. The articles of incorporation establishing the
3818	owners' association shall set forth the duties of the owners'
3819	association. All expenses reasonably incurred by the owners'
3820	association in the performance of its duties, together with any
3821	reasonable compensation of the officers or directors of the
3822	owners' association, shall be common expenses of the timeshare
3823	plan.
3824	(V)  The documents establishing the owners' association
3825	shall constitute a part of the timeshare instrument.
3826	(VI)  For owners' associations holding property in a
3827	timeshare plan located outside this state, the owners'
3828	association holding such property shall be deemed in compliance
3829	with the requirements of this subparagraph if such owners'
3830	association is authorized and qualified to conduct owners'
3831	association business under the laws of such jurisdiction and the
3832	agreement or law governing such arrangement provides
3833	substantially similar protections for the purchaser as are
3834	required in this subparagraph for owners' associations holding
3835	property in a timeshare plan in this state.
3836	(VII)  The owners' association shall have appointed a
3837	registered agent in this state for service of process. In the
3838	event such a registered agent cannot be located, service of
3839	process may be made pursuant to s. 721.265.
3840	6.  Personal property subject to certificate of title.--If
3841	any personal property that is an accommodation or facility of a
3842	timeshare plan is subject to a certificate of title in this
3843	state pursuant to chapter 319 or chapter 328, the following
3844	notation must be made on such certificate of title pursuant to
3845	s. 319.27(1) or s. 328.15(1):
3846
3847	The further transfer or encumbrance of the property subject to
3848	this certificate of title, or any lien or encumbrance thereon,
3849	is subject to the requirements of section 721.17, Florida
3850	Statutes, and the transferee or lienor agrees to be bound by all
3851	of the obligations set forth therein.
3852	7.  If the developer has previously provided a certified
3853	copy of any document required by this paragraph, she or he may
3854	for all subsequent disbursements substitute a true and correct
3855	copy of the certified copy, provided no changes to the document
3856	have been made or are required to be made.
3857	8.  In the event that use rights relating to an
3858	accommodation or facility are transferred into a trust pursuant
3859	to subparagraph 4. or into an owners' association pursuant to
3860	subparagraph 5., all other interestholders, including the owner
3861	of the underlying fee or underlying personal property, must
3862	execute a nondisturbance and notice to creditors instrument
3863	pursuant to subsection (3).
3864	Section 27.  Paragraph (e) of subsection (1) of section
3865	721.53, Florida Statutes, is amended to read:
3866	721.53  Subordination instruments; alternate security
3867	arrangements.--
3868	(1)  With respect to each accommodation or facility of a
3869	multisite timeshare plan, the developer shall provide the
3870	division with satisfactory evidence that one of the following
3871	has occurred with respect to each interestholder prior to
3872	offering the accommodation or facility as a part of the
3873	multisite timeshare plan:
3874	(e)  The interestholder has transferred the subject
3875	accommodation or facility or all use rights therein to a trust
3876	that complies with this paragraph. Prior to such transfer, any
3877	lien or other encumbrance against such accommodation or facility
3878	shall be made subject to a nondisturbance and notice to
3879	creditors instrument pursuant to paragraph (a) or a
3880	subordination and notice to creditors instrument pursuant to
3881	paragraph (b). No transfer pursuant to this paragraph shall
3882	become effective until the trust accepts such transfer and the
3883	responsibilities set forth herein. A trust established pursuant
3884	to this paragraph shall comply with the following provisions:
3885	1.  The trustee shall be an individual or a business entity
3886	authorized and qualified to conduct trust business in this
3887	state. Any corporation authorized to do business in this state
3888	may act as trustee in connection with a timeshare plan pursuant
3889	to this chapter. The trustee must be independent from any
3890	developer or managing entity of the timeshare plan or any
3891	interestholder of any accommodation or facility of such plan.
3892	The same trustee may hold the accommodations and facilities, or
3893	use rights therein, for one or more of the component sites of
3894	the timeshare plan.
3895	2.  The trust shall be irrevocable so long as any purchaser
3896	has a right to occupy any portion of the timeshare property
3897	pursuant to the timeshare plan.
3898	3.  The trustee shall not convey, hypothecate, mortgage,
3899	assign, lease, or otherwise transfer or encumber in any fashion
3900	any interests in or portion of the timeshare property with
3901	respect to which any purchaser has a right of use or occupancy
3902	unless the timeshare plan is terminated pursuant to the
3903	timeshare instrument, or the timeshare property held in trust is
3904	deleted from a multisite timeshare plan pursuant to s.
3905	721.552(3), or such conveyance, hypothecation, mortgage,
3906	assignment, lease, transfer, or encumbrance is approved by vote
3907	of two-thirds of all voting interests of the timeshare plan and
3908	such decision is declared by a court of competent jurisdiction
3909	to be in the best interests of the purchasers of the timeshare
3910	plan.
3911	4.  All purchasers of the timeshare plan or the owners'
3912	association of the timeshare plan shall be express beneficiaries
3913	of the trust. The trustee shall act as a fiduciary to the
3914	beneficiaries of the trust. The personal liability of the
3915	trustee shall be governed by ss. 736.08125, 736.08163, 736.1013,
3916	and 736.1015 s. 737.306. The agreement establishing the trust
3917	shall set forth the duties of the trustee. The trustee shall be
3918	required to furnish promptly to the division upon request a copy
3919	of the complete list of the names and addresses of the owners in
3920	the timeshare plan and a copy of any other books and records of
3921	the timeshare plan required to be maintained pursuant to s.
3922	721.13 that are in the possession of the trustee. All expenses
3923	reasonably incurred by the trustee in the performance of its
3924	duties, together with any reasonable compensation of the
3925	trustee, shall be common expenses of the timeshare plan.
3926	5.  The trustee shall not resign upon less than 90 days'
3927	prior written notice to the managing entity and the division. No
3928	resignation shall become effective until a substitute trustee,
3929	approved by the division, is appointed by the managing entity
3930	and accepts the appointment.
3931	6.  The documents establishing the trust arrangement shall
3932	constitute a part of the timeshare instrument.
3933	7.  For trusts holding property in component sites located
3934	outside this state, the trust holding such property shall be
3935	deemed in compliance with the requirements of this paragraph, if
3936	such trust is authorized and qualified to conduct trust business
3937	under the laws of such jurisdiction and the agreement or law
3938	governing such trust arrangement provides substantially similar
3939	protections for the purchaser as are required in this paragraph
3940	for trusts holding property in a component site located in this
3941	state.
3942	8.  The trustee shall have appointed a registered agent in
3943	this state for service of process. In the event such a
3944	registered agent is not appointed, service of process may be
3945	served pursuant to s. 721.265.
3946	Section 28.  Section 731.103, Florida Statutes, is amended
3947	to read:
3948	731.103  Evidence as to death or status.--In proceedings
3949	under this code and under chapter 736, the rules of evidence in
3950	civil actions are applicable unless specifically changed by the
3951	code. The following additional rules relating to determination
3952	of death and status are applicable:
3953	(1)  An authenticated copy of a death certificate issued by
3954	an official or agency of the place where the death purportedly
3955	occurred is prima facie proof of the fact, place, date, and time
3956	of death and the identity of the decedent.
3957	(2)  A copy of any record or report of a governmental
3958	agency, domestic or foreign, that a person is alive, missing,
3959	detained, or, from the facts related, presumed dead is prima
3960	facie evidence of the status and of the dates, circumstances,
3961	and places disclosed by the record or report.
3962	(3)  A person who is absent from the place of his or her
3963	last known domicile for a continuous period of 5 years and whose
3964	absence is not satisfactorily explained after diligent search
3965	and inquiry is presumed to be dead. The person's death is
3966	presumed to have occurred at the end of the period unless there
3967	is evidence establishing that death occurred earlier. Evidence
3968	showing that the absent person was exposed to a specific peril
3969	of death may be a sufficient basis for the court determining at
3970	any time after such exposure that he or she died less than 5
3971	years after the date on which his or her absence commenced. A
3972	petition for this determination shall be filed in the county in
3973	Florida where the decedent maintained his or her domicile or in
3974	any county of this state if the decedent was not a resident of
3975	Florida at the time his or her absence commenced.
3976	(4)  This section does not preclude the establishment of
3977	death by direct or circumstantial evidence prior to expiration
3978	of the 5-year time period set forth in subsection (3).
3979	Section 29.  Section 731.1035, Florida Statutes, is created
3980	to read:
3981	731.1035  Applicable rules of evidence.--In proceedings
3982	under this code, the rules of evidence in civil actions are
3983	applicable unless specifically changed by the code.
3984	Section 30.  Section 731.201, Florida Statutes, is amended
3985	to read:
3986	731.201  General definitions.--Subject to additional
3987	definitions in subsequent chapters that are applicable to
3988	specific chapters or parts, and unless the context otherwise
3989	requires, in this code, in s. 409.9101, and in chapters 736 737,
3990	738, 739, and 744, the term:
3991	(1)  "Authenticated," when referring to copies of documents
3992	or judicial proceedings required to be filed with the court
3993	under this code, means a certified copy or a copy authenticated
3994	according to the Federal Rules of Civil Procedure.
3995	(2)  "Beneficiary" means heir at law in an intestate estate
3996	and devisee in a testate estate. The term "beneficiary" does not
3997	apply to an heir at law or a devisee after that person's
3998	interest in the estate has been satisfied. In the case of a
3999	devise to an existing trust or trustee, or to a trust or trustee
4000	described by will, the trustee is a beneficiary of the estate.
4001	Except as otherwise provided in this subsection, the beneficiary
4002	of the trust is not a beneficiary of the estate of which that
4003	trust or the trustee of that trust is a beneficiary. However, if
4004	each trustee is also a personal representative of the estate,
4005	each qualified beneficiary the beneficiary or beneficiaries of
4006	the trust as defined in s. 736.0103(14) 737.303(4)(b) shall be
4007	regarded as a beneficiary of the estate.
4008	(3)  "Child" includes a person entitled to take as a child
4009	under this code by intestate succession from the parent whose
4010	relationship is involved, and excludes any person who is only a
4011	stepchild, a foster child, a grandchild, or a more remote
4012	descendant.
4013	(4)  "Claim" means a liability of the decedent, whether
4014	arising in contract, tort, or otherwise, and funeral expense.
4015	The term does not include an expense of administration or
4016	estate, inheritance, succession, or other death taxes.
4017	(5)  "Clerk" means the clerk or deputy clerk of the court.
4018	(6)  "Court" means the circuit court.
4019	(7)  "Curator" means a person appointed by the court to
4020	take charge of the estate of a decedent until letters are
4021	issued.
4022	(8)  "Devise," when used as a noun, means a testamentary
4023	disposition of real or personal property and, when used as a
4024	verb, means to dispose of real or personal property by will or
4025	trust. The term includes "gift," "give," "bequeath," "bequest,"
4026	and "legacy." A devise is subject to charges for debts,
4027	expenses, and taxes as provided in this code, the will, or the
4028	trust.
4029	(9)  "Devisee" means a person designated in a will or trust
4030	to receive a devise. Except as otherwise provided in this
4031	subsection, in the case of a devise to an existing trust or
4032	trustee, or to a trust or trustee of a trust described by will,
4033	the trust or trustee, rather than the beneficiaries of the
4034	trust, is the devisee. However, if each trustee is also a
4035	personal representative of the estate, each qualified
4036	beneficiary the beneficiary or beneficiaries of the trust as
4037	defined in s. 736.0103(14) 737.303(4)(b) shall be regarded as a
4038	devisee.
4039	(10)  "Distributee" means a person who has received estate
4040	property from a personal representative or other fiduciary other
4041	than as a creditor or purchaser. A testamentary trustee is a
4042	distributee only to the extent of distributed assets or
4043	increments to them remaining in the trustee's hands. A
4044	beneficiary of a testamentary trust to whom the trustee has
4045	distributed property received from a personal representative is
4046	a distributee. For purposes of this provision, "testamentary
4047	trustee" includes a trustee to whom assets are transferred by
4048	will, to the extent of the devised assets.
4049	(11)  "Domicile" means a person's usual place of dwelling
4050	and shall be synonymous with residence.
4051	(12)  "Estate" means the property of a decedent that is the
4052	subject of administration.
4053	(13)  "Exempt property" means the property of a decedent's
4054	estate which is described in s. 732.402.
4055	(14)  "File" means to file with the court or clerk.
4056	(15)  "Foreign personal representative" means a personal
4057	representative of another state or a foreign country.
4058	(16)  "Formal notice" means formal notice under the Florida
4059	Probate Rules.
4060	(17)  "Grantor" means one who creates or adds to a trust
4061	and includes "settlor" or "trustor" and a testator who creates
4062	or adds to a trust.
4063	(18)  "Heirs" or "heirs at law" means those persons,
4064	including the surviving spouse, who are entitled under the
4065	statutes of intestate succession to the property of a decedent.
4066	(19)  "Incompetent" means a minor or a person adjudicated
4067	incompetent.
4068	(20)  "Informal notice" or "notice" means informal notice
4069	under the Florida Probate Rules.
4070	(21)  "Interested person" means any person who may
4071	reasonably be expected to be affected by the outcome of the
4072	particular proceeding involved. In any proceeding affecting the
4073	estate or the rights of a beneficiary in the estate, the
4074	personal representative of the estate shall be deemed to be an
4075	interested person. In any proceeding affecting the expenses of
4076	the administration and obligations of a decedent's estate, or
4077	any claims described in s. 733.702(1), the trustee of a trust
4078	described in s. 733.707(3) is an interested person in the
4079	administration of the grantor's estate. The term does not
4080	include a beneficiary who has received complete distribution.
4081	The meaning, as it relates to particular persons, may vary from
4082	time to time and must be determined according to the particular
4083	purpose of, and matter involved in, any proceedings.
4084	(22)  "Letters" means authority granted by the court to the
4085	personal representative to act on behalf of the estate of the
4086	decedent and refers to what has been known as letters
4087	testamentary and letters of administration. All letters shall be
4088	designated "letters of administration."
4089	(23)  "Other state" means any state of the United States
4090	other than Florida and includes the District of Columbia, the
4091	Commonwealth of Puerto Rico, and any territory or possession
4092	subject to the legislative authority of the United States.
4093	(24)  "Parent" excludes any person who is only a
4094	stepparent, foster parent, or grandparent.
4095	(25)  "Personal representative" means the fiduciary
4096	appointed by the court to administer the estate and refers to
4097	what has been known as an administrator, administrator cum
4098	testamento annexo, administrator de bonis non, ancillary
4099	administrator, ancillary executor, or executor.
4100	(26)  "Petition" means a written request to the court for
4101	an order.
4102	(27)  "Power of appointment" means an authority, other than
4103	as an incident of the beneficial ownership of property, to
4104	designate recipients of beneficial interests in property.
4105	(28)(27)  "Probate of will" means all steps necessary to
4106	establish the validity of a will and to admit a will to probate.
4107	(29)(28)  "Property" means both real and personal property
4108	or any interest in it and anything that may be the subject of
4109	ownership.
4110	(30)(29)  "Protected homestead" means the property
4111	described in s. 4(a)(1), Art. X of the State Constitution on
4112	which at the death of the owner the exemption inures to the
4113	owner's surviving spouse or heirs under s. 4(b), Art. X of the
4114	State Constitution. For purposes of the code, real property
4115	owned as tenants by the entirety is not protected homestead.
4116	(31)(30)  "Residence" means a person's place of dwelling.
4117	(32)(31)  "Residuary devise" means a devise of the assets
4118	of the estate which remain after the provision for any devise
4119	which is to be satisfied by reference to a specific property or
4120	type of property, fund, sum, or statutory amount. If the will
4121	contains no devise which is to be satisfied by reference to a
4122	specific property or type of property, fund, sum, or statutory
4123	amount, "residuary devise" or "residue" means a devise of all
4124	assets remaining after satisfying the obligations of the estate.
4125	(33)(32)  "Security" means a security as defined in s.
4126	517.021.
4127	(34)(33)  "Security interest" means a security interest as
4128	defined in s. 671.201.
4129	(35)(34)  "Trust" means an express trust, private or
4130	charitable, with additions to it, wherever and however created.
4131	It also includes a trust created or determined by a judgment or
4132	decree under which the trust is to be administered in the manner
4133	of an express trust. "Trust" excludes other constructive trusts,
4134	and it excludes resulting trusts; conservatorships; custodial
4135	arrangements pursuant to the Florida Uniform Transfers to Minors
4136	Act; business trusts providing for certificates to be issued to
4137	beneficiaries; common trust funds; land trusts under s. 689.05;
4138	trusts created by the form of the account or by the deposit
4139	agreement at a financial institution; voting trusts; security
4140	arrangements; liquidation trusts; trusts for the primary purpose
4141	of paying debts, dividends, interest, salaries, wages, profits,
4142	pensions, or employee benefits of any kind; and any arrangement
4143	under which a person is nominee or escrowee for another.
4144	(36)(35)  "Trustee" includes an original, additional,
4145	surviving, or successor trustee, whether or not appointed or
4146	confirmed by court.
4147	(37)(36)  "Will" means an instrument, including a codicil,
4148	executed by a person in the manner prescribed by this code,
4149	which disposes of the person's property on or after his or her
4150	death and includes an instrument which merely appoints a
4151	personal representative or revokes or revises another will.
4152	Section 31.  Paragraph (a) of subsection (1) and subsection
4153	(5) of section 731.303, Florida Statutes, are amended to read:
4154	731.303  Representation.--In the administration of or in
4155	judicial proceedings involving estates of decedents or trusts,
4156	the following apply:
4157	(1)  Persons are bound by orders binding others in the
4158	following cases:
4159	(a)1.  Orders binding the sole holder or all coholders of a
4160	power of revocation or a general, special, or limited power of
4161	appointment, including one in the form of a power of amendment
4162	or revocation to the extent that the power has not become
4163	unexercisable in fact, bind all persons to the extent that their
4164	interests, as persons who may take by virtue of the exercise or
4165	nonexercise of the power, are subject to the power.
4166	2.  Subparagraph 1. does not apply to:
4167	a.  Any matter determined by the court to involve fraud or
4168	bad faith by the trustee;
4169	b.  A power of a trustee to distribute trust property; or
4170	c.  A power of appointment held by a person while the
4171	person is the sole trustee.
4172	(5)  The holder of a power of appointment over property not
4173	held in trust may represent and bind persons whose interests, as
4174	permissible appointees, takers in default, or otherwise, are
4175	subject to the power. Representation under this subsection does
4176	not apply to:
4177	(a)  Any matter determined by the court to involve fraud or
4178	bad faith by the trustee;
4179	(b)  A power of a trustee to distribute trust property; or
4180	(c)  A power of appointment held by a person while the
4181	person is the sole trustee When a sole holder or coholder of a
4182	general, special, or limited power of appointment, including an
4183	exercisable power of amendment or revocation over property in an
4184	estate or trust, is bound by:
4185	(a)  Agreements, waivers, consents, or approvals; or
4186	(b)  Accounts, trust accountings, or other written reports
4187	that adequately disclose matters set forth therein,
4188
4189	then all persons who may take by virtue of, and whose interests
4190	are subject to, the exercise or nonexercise of the power are
4191	also bound, but only to the extent of their interests which
4192	could otherwise be affected by the exercise or nonexercise of
4193	the power.
4194	Section 32.  Subsection (5) of section 732.2075, Florida
4195	Statutes, is amended to read:
4196	732.2075  Sources from which elective share payable;
4197	abatement.--
4198	(5)  Unless otherwise provided in the trust instrument or,
4199	in the decedent's will if there is no provision in the trust
4200	instrument, any amount to be satisfied from trust property shall
4201	be paid from the assets of the trust in the order provided for
4202	claims under s. 736.05053 737.3054(2) and (3). A direction in
4203	the decedent's will is effective only for revocable trusts.
4204	Section 33.  Subsection (2) of section 732.513, Florida
4205	Statutes, is amended to read:
4206	732.513  Devises to trustee.--
4207	(2)  The devise shall not be invalid for any or all of the
4208	following reasons:
4209	(a)  Because the trust is amendable or revocable, or both,
4210	by any person.
4211	(b)  Because the trust has been amended or revoked in part
4212	after execution of the will or a codicil to it.
4213	(c)  Because the trust instrument or any amendment to it
4214	was not executed in the manner required for wills.
4215	(c)(d)  Because the only res of the trust is the possible
4216	expectancy of receiving, as a named beneficiary, a devise under
4217	a will or death benefits as described in s. 733.808, and even
4218	though the testator or other person has reserved any or all
4219	rights of ownership in the death benefit policy, contract, or
4220	plan, including the right to change the beneficiary.
4221	(d)(e)  Because of any of the provisions of s. 689.075.
4222	Section 34.  Section 732.603, Florida Statutes, is amended
4223	to read:
4224	(Substantial rewording of section. See
4225	s. 732.603, F.S., for present text.)
4226	732.603  Antilapse; deceased devisee; class gifts.--
4227	(1)  Unless a contrary intent appears in the will, if a
4228	devisee who is a grandparent, or a descendant of a grandparent,
4229	of the testator:
4230	(a)  Is dead at the time of the execution of the will;
4231	(b)  Fails to survive the testator; or
4232	(c)  Is required by the will or by operation of law to be
4233	treated as having predeceased the testator,
4234
4235	a substitute gift is created in the devisee's surviving
4236	descendants who take per stirpes the property to which the
4237	devisee would have been entitled had the devisee survived the
4238	testator.
4239	(2)  When a power of appointment is exercised by will,
4240	unless a contrary intent appears in the document creating the
4241	power of appointment or in the testator's will, if an appointee
4242	who is a grandparent, or a descendant of a grandparent, of the
4243	donor of the power:
4244	(a)  Is dead at the time of the execution of the will or
4245	the creation of the power;
4246	(b)  Fails to survive the testator; or
4247	(c)  Is required by the will, the document creating the
4248	power, or by operation of law to be treated as having
4249	predeceased the testator,
4250
4251	a substitute gift is created in the appointee's surviving
4252	descendants who take per stirpes the property to which the
4253	appointee would have been entitled had the appointee survived
4254	the testator. Unless the language creating a power of
4255	appointment expressly excludes the substitution of the
4256	descendants of an object of a power for the object, a surviving
4257	descendant of a deceased object of a power of appointment may be
4258	substituted for the object whether or not the descendant is an
4259	object of the power.
4260	(3)  In the application of this section:
4261	(a)  Words of survivorship in a devise or appointment to an
4262	individual, such as "if he survives me," or to "my surviving
4263	children," are a sufficient indication of an intent contrary to
4264	the application of subsections (1) and (2). Words of
4265	survivorship used by the donor of the power in a power to
4266	appoint to an individual, such as the term "if he survives the
4267	donee," or in a power to appoint to the donee's "then surviving
4268	children," are a sufficient indication of an intent contrary to
4269	the application of subsection (2).
4270	(b)  The term:
4271	1.  "Appointment" includes an alternative appointment and
4272	an appointment in the form of a class gift.
4273	2.  "Appointee" includes:
4274	a.  A class member if the appointment is in the form of a
4275	class gift.
4276	b.  An individual or class member who was deceased at the
4277	time the testator executed his or her will as well as an
4278	individual or class member who was then living but who failed to
4279	survive the testator.
4280	3.  "Devise" also includes an alternative devise and a
4281	devise in the form of a class gift.
4282	4.  "Devisee" also includes:
4283	a.  A class member if the devise is in the form of a class
4284	gift.
4285	b.  An individual or class member who was deceased at the
4286	time the testator executed his or her will as well as an
4287	individual or class member who was then living but who failed to
4288	survive the testator.
4289	(4)  This section applies only to outright devises and
4290	appointments. Devises and appointments in trust, including to a
4291	testamentary trust, are subject to s. 736.1106.
4292	Section 35.  Section 732.604, Florida Statutes, is amended
4293	to read:
4294	732.604  Failure of testamentary provision.--
4295	(1)  Except as provided in s. 732.603, if a devise other
4296	than a residuary devise fails for any reason, it becomes a part
4297	of the residue.
4298	(2)  Except as provided in s. 732.603, if the residue is
4299	devised to two or more persons, the share of a residuary devisee
4300	that fails for any reason and the devise to one of the residuary
4301	devisees fails for any reason, that devise passes to the other
4302	residuary devisee, or to the other residuary devisees in
4303	proportion to the their interests of each in the remaining part
4304	of the residue.
4305	Section 36.  Section 732.611, Florida Statutes, is amended
4306	to read:
4307	732.611  Devises to multi-generation classes to be per
4308	stirpes.--Unless the will provides otherwise, all devises to
4309	descendants, issue, and other multi-generation classes shall be
4310	per stirpes.
4311	Section 37.  Subsection (1) of section 733.212, Florida
4312	Statutes, is amended to read:
4313	733.212  Notice of administration; filing of objections.--
4314	(1)  The personal representative shall promptly serve a
4315	copy of the notice of administration on the following persons
4316	who are known to the personal representative:
4317	(a)  The decedent's surviving spouse;
4318	(b)  Beneficiaries;
4319	(c)  The trustee of any trust described in s. 733.707(3)
4320	and each qualified beneficiary of the trust as defined in s.
4321	736.0103(14) 737.303(4)(b), if each trustee is also a personal
4322	representative of the estate; and
4323	(d)  Persons who may be entitled to exempt property
4324
4325	in the manner provided for service of formal notice, unless
4326	served under s. 733.2123. The personal representative may
4327	similarly serve a copy of the notice on any devisees under a
4328	known prior will or heirs or others who claim or may claim an
4329	interest in the estate.
4330	Section 38.  Subsection (1) of section 733.602, Florida
4331	Statutes, is amended to read:
4332	733.602  General duties.--
4333	(1)  A personal representative is a fiduciary who shall
4334	observe the standards of care applicable to trustees as
4335	described by part VII of chapter 736 s. 737.302. A personal
4336	representative is under a duty to settle and distribute the
4337	estate of the decedent in accordance with the terms of the
4338	decedent's will and this code as expeditiously and efficiently
4339	as is consistent with the best interests of the estate. A
4340	personal representative shall use the authority conferred by
4341	this code, the authority in the will, if any, and the authority
4342	of any order of the court, for the best interests of interested
4343	persons, including creditors.
4344	Section 39.  Subsection (4) of section 733.805, Florida
4345	Statutes, is amended to read:
4346	733.805  Order in which assets abate.--
4347	(4)  In determining the contribution required under s.
4348	733.607(2), subsections (1)-(3) of this section and s. 736.05053
4349	737.3054(2) shall be applied as if the beneficiaries of the
4350	estate and the beneficiaries of a trust described in s.
4351	733.707(3), other than the estate or trust itself, were taking
4352	under a common instrument.
4353	Section 40.  Paragraph (j) of subsection (1) of section
4354	733.817, Florida Statutes, is amended to read:
4355	733.817  Apportionment of estate taxes.--
4356	(1)  For purposes of this section:
4357	(j)  "Residuary devise" has the meaning set forth in s.
4358	731.201(31).
4359	Section 41.  Paragraphs (a) and (f) of subsection (8) and
4360	paragraphs (a) and (d) of subsection (9) of section 738.104,
4361	Florida Statutes, are amended to read:
4362	738.104  Trustee's power to adjust.--
4363	(8)  With respect to a trust in existence on January 1,
4364	2003:
4365	(a)  A trustee shall not have the power to adjust under
4366	this section until the statement required in subsection (9) is
4367	provided and either no objection is made or any objection which
4368	is made has been terminated.
4369	1.  An objection is made if, within 60 days after the date
4370	of the statement required in subsection (9), a super majority of
4371	the eligible trust beneficiaries deliver to the trustee a
4372	written objection to the application of this section to such
4373	trust. An objection shall be deemed to be delivered to the
4374	trustee on the date the objection is mailed to the mailing
4375	address listed in the notice provided in subsection (9).
4376	2.  An objection is terminated upon the earlier of the
4377	receipt of consent from a super majority of eligible trust
4378	beneficiaries of the class that made the objection, or the
4379	resolution of the objection pursuant to paragraph (c).
4380	(f)  The objection of a super majority of eligible
4381	beneficiaries under this subsection shall be valid for a period
4382	of 1 year after the date of the notice set forth in subsection
4383	(9). Upon expiration of the objection, the trustee may
4384	thereafter give a new notice under subsection (9).
4385	(9)(a)  A trustee of a trust in existence on January 1,
4386	2003, that is not prohibited under subsection (3) from
4387	exercising the power to adjust shall, any time prior to
4388	initially exercising the power, provide to all eligible
4389	reasonably ascertainable current beneficiaries described in s.
4390	737.303(4)(b)1. and all reasonably ascertainable remainder
4391	beneficiaries described in s. 737.303(4)(b)2. a statement
4392	containing the following:
4393	1.  The name, telephone number, street address, and mailing
4394	address of the trustee and of any individuals who may be
4395	contacted for further information;
4396	2.  A statement that unless a super majority of the
4397	eligible beneficiaries objects to the application of this
4398	section to the trust within 60 days after the date the statement
4399	pursuant to this subsection was served, s. 738.104 shall apply
4400	to the trust; and
4401	3.  A statement that, if s. 738.104 applies to the trust,
4402	the trustee will have the power to adjust between income and
4403	principal and that such a power may have an effect on the
4404	distributions to such beneficiary from the trust.
4405	(d)  For purposes of subsection (8) and this subsection,
4406	the term:
4407	1.  "Eligible beneficiaries" means:
4408	a.  If at the time the determination is made there is one
4409	or more beneficiaries described in s. 736.0103(14)(c), the
4410	beneficiaries described in s. 736.0103(14)(a) and (c); or
4411	b.  If there is no beneficiary described in s.
4412	736.0103(14)(c), the beneficiaries described in s.
4413	736.0103(14)(a) and (b).
4414	2.  A "Super majority of the eligible trust beneficiaries"
4415	means:
4416	a.  If at the time the determination is made there is one
4417	or more beneficiaries described in s. 736.0103(14)(c), at least
4418	two-thirds in interest of the reasonably ascertainable current
4419	beneficiaries described in s. 736.0103(14)(a) 737.303(4)(b)1. or
4420	two-thirds in interest of the reasonably ascertainable remainder
4421	beneficiaries described in s. 736.0103(14)(c) 737.303(4)(b)2.,
4422	if the interests of the beneficiaries are reasonably
4423	ascertainable; otherwise, it means two-thirds in number of
4424	either such class; or
4425	b.  If there is no beneficiary described in s.
4426	736.0103(14)(c), at least two-thirds in interest of the
4427	beneficiaries described in s. 736.0103(14)(a) or two-thirds in
4428	interest of the beneficiaries described in s. 736.0103(14)(b),
4429	if the interests of the beneficiaries are reasonably
4430	ascertainable, otherwise, two-thirds in number of either such
4431	class.
4432	Section 42.  Subsection (4) of section 738.1041, Florida
4433	Statutes, is amended to read:
4434	738.1041  Total return unitrust.--
4435	(4)  All determinations made pursuant to sub-subparagraph
4436	(2)(b)2.b. shall be conclusive if reasonable and made in good
4437	faith. Such determination shall be conclusively presumed to have
4438	been made reasonably and in good faith unless proven otherwise
4439	in a proceeding commenced by or on behalf of a person interested
4440	in the trust within the time provided in s. 736.1008 737.307.
4441	The burden will be on the objecting interested party to prove
4442	that the determinations were not made reasonably and in good
4443	faith.
4444	Section 43.  Subsection (5) of section 738.202, Florida
4445	Statutes, is amended to read:
4446	738.202  Distribution to residuary and remainder
4447	beneficiaries.--
4448	(5)  The value of trust assets shall be determined on an
4449	asset-by-asset basis and shall be conclusive if reasonable and
4450	determined in good faith. Determinations based on appraisals
4451	performed within 2 years before or after the valuation date
4452	shall be presumed reasonable. The value of trust assets shall be
4453	conclusively presumed to be reasonable and determined in good
4454	faith unless proven otherwise in a proceeding commenced by or on
4455	behalf of a person interested in the trust within the time
4456	provided in s. 736.1008 737.307.
4457	Section 44.  Paragraph (a) of subsection (12) of section
4458	739.102, Florida Statutes, is amended to read:
4459	739.102  Definitions.--As used in this chapter, the term:
4460	(12)  "Trust" means:
4461	(a)  An express trust (including an honorary trust or a
4462	trust under s. 736.0408 737.116), charitable or noncharitable,
4463	with additions thereto, whenever and however created; and
4464
4465	As used in this chapter, the term "trust" does not include a
4466	constructive trust or a resulting trust.
4467	Section 45.  Paragraphs (b) and (f) of subsection (6) of
4468	section 744.331, Florida Statutes, are amended to read:
4469	744.331  Procedures to determine incapacity.--
4470	(6)  ORDER DETERMINING INCAPACITY.--If, after making
4471	findings of fact on the basis of clear and convincing evidence,
4472	the court finds that a person is incapacitated with respect to
4473	the exercise of a particular right, or all rights, the court
4474	shall enter a written order determining such incapacity. A
4475	person is determined to be incapacitated only with respect to
4476	those rights specified in the order.
4477	(b)  When an order determines that a person is incapable of
4478	exercising delegable rights, the court must consider and find
4479	whether there is an alternative to guardianship which will
4480	sufficiently address the problems of the incapacitated person. A
4481	guardian must be appointed to exercise the incapacitated
4482	person's delegable rights unless the court finds there is an
4483	alternative. A guardian may not be appointed if the court finds
4484	there is an alternative to guardianship which will sufficiently
4485	address the problems of the incapacitated person. In any order
4486	declaring a person incapacitated the court must find that
4487	alternatives to guardianship were considered and that no
4488	alternative to guardianship will sufficiently address the
4489	problems of the ward.
4490	(f)  Upon the filing of a verified statement by an
4491	interested person stating:
4492	1.  That he or she has a good faith belief that the alleged
4493	incapacitated person's trust, trust amendment, or durable power
4494	of attorney is invalid; and
4495	2.  A reasonable factual basis for that belief,
4496
4497	the trust, trust amendment, or durable power of attorney shall
4498	not be deemed to be an alternative to the appointment of a
4499	guardian. The appointment of a guardian does not limit the
4500	court's power to determine that certain authority granted by a
4501	durable power of attorney is to remain exercisable by the
4502	attorney in fact. When an order is entered which determines that
4503	a person is incapable of exercising delegable rights, a guardian
4504	must be appointed to exercise those rights.
4505	Section 46.  Paragraph (a) of subsection (6) of section
4506	744.361, Florida Statutes, is amended to read:
4507	744.361  Powers and duties of guardian.--
4508	(6)  A guardian who is given authority over any property of
4509	the ward shall:
4510	(a)  Protect and preserve the property and invest it
4511	prudently as provided in chapter 518 defined in s. 737.302,
4512	apply it as provided in s. 744.397, and account for it
4513	faithfully.
4514	Section 47.  Subsections (11) and (18) of section 744.441,
4515	Florida Statutes, are amended to read:
4516	744.441  Powers of guardian upon court approval.--After
4517	obtaining approval of the court pursuant to a petition for
4518	authorization to act, a plenary guardian of the property, or a
4519	limited guardian of the property within the powers granted by
4520	the order appointing the guardian or an approved annual or
4521	amended guardianship report, may:
4522	(11)  Prosecute or defend claims or proceedings in any
4523	jurisdiction for the protection of the estate and of the
4524	guardian in the performance of his or her duties. Before
4525	authorizing a guardian to bring an action described in s.
4526	736.0207, the court shall first find that the action appears to
4527	be in the ward's best interests during the ward's probable
4528	lifetime. If the court denies a request that a guardian be
4529	authorized to bring an action described in s. 736.0207, the
4530	court shall review the continued need for a guardian and the
4531	extent of the need for delegation of the ward's rights.
4532	(18)  When the ward's will evinces an objective to obtain a
4533	United States estate tax charitable deduction by use of a split
4534	interest trust (as that term is defined in s. 736.1201 737.501),
4535	but the maximum charitable deduction otherwise allowable will
4536	not be achieved in whole or in part, execute a codicil on the
4537	ward's behalf amending said will to obtain the maximum
4538	charitable deduction allowable without diminishing the aggregate
4539	value of the benefits of any beneficiary under such will.
4540	Section 48.  Section 744.462, Florida Statutes, is created
4541	to read:
4542	744.462  Determination regarding alternatives to
4543	guardianship.--Any judicial determination concerning the
4544	validity of the ward's durable power of attorney, trust, or
4545	trust amendment shall be promptly reported in the guardianship
4546	proceeding by the guardian of the property. If the instrument
4547	has been judicially determined to be valid or if, after the
4548	appointment of a guardian, a petition is filed alleging that
4549	there is an alternative to guardianship which will sufficiently
4550	address the problems of the ward, the court shall review the
4551	continued need for a guardian and the extent of the need for
4552	delegation of the ward's rights.
4553	Section 49.  Sections 737.101, 737.105, 737.106, 737.111,
4554	737.115, 737.116, 737.201, 737.202, 737.203, 737.2035, 737.204,
4555	737.2041, 737.205, 737.206, 737.2065, 737.207, 737.208, 737.209,
4556	737.301, 737.302, 737.303, 737.3035, 737.304, 737.305, 737.3053,
4557	737.3054, 737.3055, 737.306, 737.3061, 737.307, 737.308,
4558	737.309, 737.401, 737.402, 737.4025, 737.403, 737.4031,
4559	737.4032, 737.4033, 737.404, 737.405, 737.406, 737.501, 737.502,
4560	737.503, 737.504, 737.505, 737.506, 737.507, 737.508, 737.509,
4561	737.510, 737.511, 737.512, 737.6035, 737.621, 737.622, 737.623,
4562	737.624, 737.625, 737.626, and 737.627, Florida Statutes, are
4563	repealed.
4564	Section 50.  This act shall take effect July 1, 2007.

CODING: Words stricken are deletions; words underlined are additions.