Florida Senate - 2020                        COMMITTEE AMENDMENT
       Bill No. SB 1366
       
       
       
       
       
       
                                Ì409666NÎ409666                         
       
                              LEGISLATIVE ACTION                        
                    Senate             .             House              
                  Comm: RCS            .                                
                  02/13/2020           .                                
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       The Committee on Judiciary (Gruters) recommended the following:
       
    1         Senate Amendment (with title amendment)
    2  
    3         Delete lines 65 - 81
    4  and insert:
    5         (b) The trustee is a beneficiary of such trust.
    6         (c) The trustee is a related or subordinate party, as
    7  defined in s. 672(c) of the Internal Revenue Code, with respect
    8  to a person treated as the owner of all or part of such trust
    9  under s. 671 of the Internal Revenue Code or any similar
   10  federal, state, or other tax law or with respect to a
   11  beneficiary of such trust.
   12         (4) If the terms of a trust require the trustee to act at
   13  the direction or with the consent of a trust advisor, a
   14  protector, or any other person, or that the decisions addressed
   15  in this section be made directly by a trust advisor, a
   16  protector, or any other person, the powers granted by this
   17  section to the trustee must instead or also be granted, as
   18  applicable under the terms of the trust, to the advisor,
   19  protector, or other person subject to the limitations set forth
   20  in subsection (3), which must be applied as if the advisor,
   21  protector, or other person were a trustee.
   22         (5) A person may not be considered a beneficiary of a trust
   23  solely by reason of the application of this section, including
   24  for purposes of determining the elective estate.
   25  
   26  ================= T I T L E  A M E N D M E N T ================
   27  And the title is amended as follows:
   28         Delete line 12
   29  and insert:
   30         direction or with the consent of such persons or that
   31         specified decisions be made directly by such persons;