reglab/housing_qa huggingface dataset:
FL Stat § 736.04115 (2021)
2021 Florida Statutes|Title XLII - Estates and Trusts|Chapter 736 - Florida Trust Code|Part IV - Creation, Validity, Modification, and Termination (Ss. 736.0401-736.0417)|736.04115 - Judicial modification of irrevocable trust when modification is in best interests of beneficiaries.

736.04115 Judicial modification of irrevocable trust when modification is in best interests of beneficiaries.—(1) Without regard to the reasons for modification provided in s. 736.04113, if compliance with the terms of a trust is not in the best interests of the beneficiaries, upon the application of a trustee or any qualified beneficiary, a court may at any time modify a trust that is not then revocable as provided in s. 736.04113(2).(2) In exercising discretion to modify a trust under this section:(a) The court shall exercise discretion in a manner that conforms to the extent possible with the intent of the settlor, taking into account the current circumstances and best interests of the beneficiaries.(b) The court shall consider the terms and purposes of the trust, the facts and circumstances surrounding the creation of the trust, and extrinsic evidence relevant to the proposed modification.(c) The court shall consider spendthrift provisions as a factor in making a decision, but the court is not precluded from modifying a trust because the trust contains spendthrift provisions.(3) This section shall not apply to:(a) Any trust created prior to January 1, 2001.(b) Any trust created after December 31, 2000, if:1. Under the terms of the trust, all beneficial interests in the trust must vest or terminate within the period prescribed by the rule against perpetuities in s. 689.225(2), notwithstanding s. 689.225(2)(f).2. The terms of the trust expressly prohibit judicial modification.(4) For purposes of subsection (3), a revocable trust shall be treated as created when the right of revocation terminates.(5) The provisions of this section are in addition to, and not in derogation of, rights under the common law to modify, amend, terminate, or revoke trusts.History.—s. 4, ch. 2006-217.
FL Stat § 736.0412 (2021)
2021 Florida Statutes|Title XLII - Estates and Trusts|Chapter 736 - Florida Trust Code|Part IV - Creation, Validity, Modification, and Termination (Ss. 736.0401-736.0417)|736.0412 - Nonjudicial modification of irrevocable trust.

736.0412 Nonjudicial modification of irrevocable trust.—(1) After the settlor’s death, a trust may be modified at any time as provided in s. 736.04113(2) upon the unanimous agreement of the trustee and all qualified beneficiaries.(2) Modification of a trust as authorized in this section is not prohibited by a spendthrift clause or by a provision in the trust instrument that prohibits amendment or revocation of the trust.(3) An agreement to modify a trust under this section is binding on a beneficiary whose interest is represented by another person under part III of this code.(4) This section shall not apply to:(a) Any trust created prior to January 1, 2001.(b) Any trust created after December 31, 2000, if, under the terms of the trust, all beneficial interests in the trust must vest or terminate within the period prescribed by the rule against perpetuities in s. 689.225(2), notwithstanding s. 689.225(2)(f), unless the terms of the trust expressly authorize nonjudicial modification.(c) Any trust for which a charitable deduction is allowed or allowable under the Internal Revenue Code until the termination of all charitable interests in the trust.(5) For purposes of subsection (4), a revocable trust shall be treated as created when the right of revocation terminates.(6) The provisions of this section are in addition to, and not in derogation of, rights under the common law to modify, amend, terminate, or revoke trusts.History.—s. 4, ch. 2006-217.
FL Stat § 736.0413 (2021)
2021 Florida Statutes|Title XLII - Estates and Trusts|Chapter 736 - Florida Trust Code|Part IV - Creation, Validity, Modification, and Termination (Ss. 736.0401-736.0417)|736.0413 - Cy pres.

736.0413 Cy pres.—(1) If a particular charitable purpose becomes unlawful, impracticable, impossible to achieve, or wasteful, the court may apply the doctrine of cy pres to modify or terminate the trust by directing that the trust property be applied or distributed, in whole or in part, in a manner consistent with the settlor’s charitable purposes.(2) A proceeding to modify or terminate a trust under this section may be commenced by a settlor, a trustee, or any qualified beneficiary.History.—s. 4, ch. 2006-217.
FL Stat § 736.0414 (2021)
2021 Florida Statutes|Title XLII - Estates and Trusts|Chapter 736 - Florida Trust Code|Part IV - Creation, Validity, Modification, and Termination (Ss. 736.0401-736.0417)|736.0414 - Modification or termination of uneconomic trust.

736.0414 Modification or termination of uneconomic trust.—(1) After notice to the qualified beneficiaries, the trustee of a trust consisting of trust property having a total value less than $50,000 may terminate the trust if the trustee concludes that the value of the trust property is insufficient to justify the cost of administration.(2) Upon application of a trustee or any qualified beneficiary, the court may modify or terminate a trust or remove the trustee and appoint a different trustee if the court determines that the value of the trust property is insufficient to justify the cost of administration.(3) Upon termination of a trust under this section, the trustee shall distribute the trust property in a manner consistent with the purposes of the trust. The trustee may enter into agreements or make such other provisions that the trustee deems necessary or appropriate to protect the interests of the beneficiaries and the trustee and to carry out the intent and purposes of the trust.(4) The existence of a spendthrift provision in the trust does not make this section inapplicable unless the trust instrument expressly provides that the trustee may not terminate the trust pursuant to this section.(5) This section does not apply to an easement for conservation or preservation.History.—s. 4, ch. 2006-217.
FL Stat § 736.0415 (2021)
2021 Florida Statutes|Title XLII - Estates and Trusts|Chapter 736 - Florida Trust Code|Part IV - Creation, Validity, Modification, and Termination (Ss. 736.0401-736.0417)|736.0415 - Reformation to correct mistakes.

736.0415 Reformation to correct mistakes.—Upon application of a settlor or any interested person, the court may reform the terms of a trust, even if unambiguous, to conform the terms to the settlor’s intent if it is proved by clear and convincing evidence that both the accomplishment of the settlor’s intent and the terms of the trust were affected by a mistake of fact or law, whether in expression or inducement. In determining the settlor’s original intent, the court may consider evidence relevant to the settlor’s intent even though the evidence contradicts an apparent plain meaning of the trust instrument.History.—s. 4, ch. 2006-217.
FL Stat § 736.0416 (2021)
2021 Florida Statutes|Title XLII - Estates and Trusts|Chapter 736 - Florida Trust Code|Part IV - Creation, Validity, Modification, and Termination (Ss. 736.0401-736.0417)|736.0416 - Modification to achieve settlor’s tax objectives.

736.0416 Modification to achieve settlor’s tax objectives.—Upon application of any interested person, to achieve the settlor’s tax objectives the court may modify the terms of a trust in a manner that is not contrary to the settlor’s probable intent. The court may provide that the modification has retroactive effect.History.—s. 4, ch. 2006-217.
FL Stat § 736.0417 (2021)
2021 Florida Statutes|Title XLII - Estates and Trusts|Chapter 736 - Florida Trust Code|Part IV - Creation, Validity, Modification, and Termination (Ss. 736.0401-736.0417)|736.0417 - Combination and division of trusts.

736.0417 Combination and division of trusts.—(1) After notice to the qualified beneficiaries, a trustee may combine two or more trusts into a single trust or divide a trust into two or more separate trusts, if the result does not impair rights of any beneficiary or adversely affect achievement of the purposes of the trusts or trust, respectively.(2) Subject to the terms of the trust, the trustee may take into consideration differences in federal tax attributes and other pertinent factors in administering the trust property of any separate account or trust, in making applicable tax elections, and in making distributions. A separate trust created by severance must be treated as a separate trust for all purposes from the date on which the severance is effective. The effective date of the severance may be retroactive to a date before the date on which the trustee exercises such power.History.—s. 4, ch. 2006-217.
FL Stat § 736.0501 (2021)
2021 Florida Statutes|Title XLII - Estates and Trusts|Chapter 736 - Florida Trust Code|Part V - Creditors’ Claims; Spendthrift and Discretionary Trusts (Ss. 736.0501-736.0507)|736.0501 - Rights of beneficiary’s creditor or assignee.

736.0501 Rights of beneficiary’s creditor or assignee.—Except as provided in s. 736.0504, to the extent a beneficiary’s interest is not subject to a spendthrift provision, the court may authorize a creditor or assignee of the beneficiary to reach the beneficiary’s interest by attachment of present or future distributions to or for the benefit of the beneficiary or by other means. The court may limit the award to such relief as is appropriate under the circumstances.History.—s. 5, ch. 2006-217; s. 11, ch. 2007-153.
FL Stat § 736.0502 (2021)
2021 Florida Statutes|Title XLII - Estates and Trusts|Chapter 736 - Florida Trust Code|Part V - Creditors’ Claims; Spendthrift and Discretionary Trusts (Ss. 736.0501-736.0507)|736.0502 - Spendthrift provision.

736.0502 Spendthrift provision.—(1) A spendthrift provision is valid only if the provision restrains both voluntary and involuntary transfer of a beneficiary’s interest. This subsection does not apply to any trust the terms of which are included in an instrument executed before the effective date of this code.(2) A term of a trust providing that the interest of a beneficiary is held subject to a spendthrift trust, or words of similar import, is sufficient to restrain both voluntary and involuntary transfer of the beneficiary’s interest.(3) A beneficiary may not transfer an interest in a trust in violation of a valid spendthrift provision and, except as otherwise provided in this part, a creditor or assignee of the beneficiary may not reach the interest or a distribution by the trustee before receipt of the interest or distribution by the beneficiary.(4) A valid spendthrift provision does not prevent the appointment of interests through the exercise of a power of appointment.History.—s. 5, ch. 2006-217; s. 12, ch. 2007-153.
FL Stat § 736.0503 (2021)
2021 Florida Statutes|Title XLII - Estates and Trusts|Chapter 736 - Florida Trust Code|Part V - Creditors’ Claims; Spendthrift and Discretionary Trusts (Ss. 736.0501-736.0507)|736.0503 - Exceptions to spendthrift provision.

736.0503 Exceptions to spendthrift provision.—(1) As used in this section, the term “child” includes any person for whom an order or judgment for child support has been entered in this or any other state.(2) To the extent provided in subsection (3), a spendthrift provision is unenforceable against:(a) A beneficiary’s child, spouse, or former spouse who has a judgment or court order against the beneficiary for support or maintenance.(b) A judgment creditor who has provided services for the protection of a beneficiary’s interest in the trust.(c) A claim of this state or the United States to the extent a law of this state or a federal law so provides.(3) Except as otherwise provided in this subsection and in s. 736.0504, a claimant against which a spendthrift provision may not be enforced may obtain from a court, or pursuant to the Uniform Interstate Family Support Act, an order attaching present or future distributions to or for the benefit of the beneficiary. The court may limit the award to such relief as is appropriate under the circumstances. Notwithstanding this subsection, the remedies provided in this subsection apply to a claim by a beneficiary’s child, spouse, former spouse, or a judgment creditor described in paragraph (2)(a) or paragraph (2)(b) only as a last resort upon an initial showing that traditional methods of enforcing the claim are insufficient.History.—s. 5, ch. 2006-217; s. 13, ch. 2007-153.
FL Stat § 736.0504 (2021)
2021 Florida Statutes|Title XLII - Estates and Trusts|Chapter 736 - Florida Trust Code|Part V - Creditors’ Claims; Spendthrift and Discretionary Trusts (Ss. 736.0501-736.0507)|736.0504 - Discretionary trusts; effect of standard.

736.0504 Discretionary trusts; effect of standard.—(1) As used in this section, the term “discretionary distribution” means a distribution that is subject to the trustee’s discretion whether or not the discretion is expressed in the form of a standard of distribution and whether or not the trustee has abused the discretion.(2) Whether or not a trust contains a spendthrift provision, if a trustee may make discretionary distributions to or for the benefit of a beneficiary, a creditor of the beneficiary, including a creditor as described in s. 736.0503(2), may not:(a) Compel a distribution that is subject to the trustee’s discretion; or(b) Attach or otherwise reach the interest, if any, which the beneficiary might have as a result of the trustee’s authority to make discretionary distributions to or for the benefit of the beneficiary.(3) If the trustee’s discretion to make distributions for the trustee’s own benefit is limited by an ascertainable standard, a creditor may not reach or compel distribution of the beneficial interest except to the extent the interest would be subject to the creditor’s claim were the beneficiary not acting as trustee.(4) This section does not limit the right of a beneficiary to maintain a judicial proceeding against a trustee for an abuse of discretion or failure to comply with a standard for distribution.History.—s. 5, ch. 2006-217; s. 14, ch. 2007-153.
FL Stat § 736.0505 (2021)
2021 Florida Statutes|Title XLII - Estates and Trusts|Chapter 736 - Florida Trust Code|Part V - Creditors’ Claims; Spendthrift and Discretionary Trusts (Ss. 736.0501-736.0507)|736.0505 - Creditors’ claims against settlor.

736.0505 Creditors’ claims against settlor.—(1) Whether or not the terms of a trust contain a spendthrift provision, the following rules apply:(a) The property of a revocable trust is subject to the claims of the settlor’s creditors during the settlor’s lifetime to the extent the property would not otherwise be exempt by law if owned directly by the settlor.(b) With respect to an irrevocable trust, a creditor or assignee of the settlor may reach the maximum amount that can be distributed to or for the settlor’s benefit. If a trust has more than one settlor, the amount the creditor or assignee of a particular settlor may reach may not exceed the settlor’s interest in the portion of the trust attributable to that settlor’s contribution.(c) Notwithstanding the provisions of paragraph (b), the assets of an irrevocable trust may not be subject to the claims of an existing or subsequent creditor or assignee of the settlor, in whole or in part, solely because of the existence of a discretionary power granted to the trustee by the terms of the trust, or any other provision of law, to pay directly to the taxing authorities or to reimburse the settlor for any tax on trust income or principal which is payable by the settlor under the law imposing such tax.(2) For purposes of this section:(a) During the period the power may be exercised, the holder of a power of withdrawal is treated in the same manner as the settlor of a revocable trust to the extent of the property subject to the power.(b) Upon the lapse, release, or waiver of the power, the holder is treated as the settlor of the trust only to the extent the value of the property affected by the lapse, release, or waiver exceeds the greater of the amount specified in:1. Section 2041(b)(2) or s. 2514(e); or2. Section 2503(b) and, if the donor was married at the time of the transfer to which the power of withdrawal applies, twice the amount specified in s. 2503(b),of the Internal Revenue Code of 1986, as amended.(3) Subject to the provisions of s. 726.105, for purposes of this section, the assets in:(a) A trust described in s. 2523(e) of the Internal Revenue Code of 1986, as amended, or a trust for which the election described in s. 2523(f) of the Internal Revenue Code of 1986, as amended, has been made; and(b) Another trust, to the extent that the assets in the other trust are attributable to a trust described in paragraph (a),shall, after the death of the settlor’s spouse, be deemed to have been contributed by the settlor’s spouse and not by the settlor.History.—s. 5, ch. 2006-217; s. 5, ch. 2010-122.
FL Stat § 736.05055 (2021)
2021 Florida Statutes|Title XLII - Estates and Trusts|Chapter 736 - Florida Trust Code|Part V - Creditors’ Claims; Spendthrift and Discretionary Trusts (Ss. 736.0501-736.0507)|736.05055 - Notice of trust.

736.05055 Notice of trust.—(1) Upon the death of a settlor of a trust described in s. 733.707(3), the trustee must file a notice of trust with the court of the county of the settlor’s domicile and the court having jurisdiction of the settlor’s estate.(2) The notice of trust must contain the name of the settlor, the settlor’s date of death, the title of the trust, if any, the date of the trust, and the name and address of the trustee.(3) If the settlor’s probate proceeding has been commenced, the clerk shall notify the trustee in writing of the date of the commencement of the probate proceeding and the file number.(4) The clerk shall file and index the notice of trust in the same manner as a caveat unless there exists a probate proceeding for the settlor’s estate, in which case the notice of trust must be filed in the probate proceeding and the clerk shall send a copy to the personal representative.(5) The clerk shall send a copy of any caveat filed regarding the settlor to the trustee, and the notice of trust to any caveator, unless there is a probate proceeding pending and the personal representative and the trustee are the same.(6) Any proceeding affecting the expenses of the administration or obligations of the settlor’s estate prior to the trustee filing a notice of trust are binding on the trustee.(7) The trustee’s failure to file the notice of trust does not affect the trustee’s obligation to pay expenses of administration and obligations of the settlor’s estate as provided in s. 733.607(2).History.—s. 5, ch. 2006-217.
FL Stat § 736.0506 (2021)
2021 Florida Statutes|Title XLII - Estates and Trusts|Chapter 736 - Florida Trust Code|Part V - Creditors’ Claims; Spendthrift and Discretionary Trusts (Ss. 736.0501-736.0507)|736.0506 - Overdue distribution.

736.0506 Overdue distribution.—(1) As used in this section, the term “mandatory distribution” means a distribution of income or principal the trustee is required to make to a beneficiary under the terms of the trust, including a distribution on termination of the trust. The term does not include a distribution subject to the exercise of the trustee’s discretion, even if:(a) The discretion is expressed in the form of a standard of distribution; or(b) The terms of the trust authorizing a distribution couple language of discretion with language of direction.(2) A creditor or assignee of a beneficiary may reach a mandatory distribution of income or principal, including a distribution upon termination of the trust, if the trustee has not made the distribution to the beneficiary within a reasonable time after the designated distribution date, whether or not a trust contains a spendthrift provision.History.—s. 5, ch. 2006-217.
FL Stat § 736.0507 (2021)
2021 Florida Statutes|Title XLII - Estates and Trusts|Chapter 736 - Florida Trust Code|Part V - Creditors’ Claims; Spendthrift and Discretionary Trusts (Ss. 736.0501-736.0507)|736.0507 - Personal obligations of trustee.

736.0507 Personal obligations of trustee.—Except to the extent of the trustee’s interest in the trust other than as a trustee, trust property is not subject to personal obligations of the trustee, even if the trustee becomes insolvent or bankrupt.History.—s. 5, ch. 2006-217.
FL Stat § 736.0601 (2021)
2021 Florida Statutes|Title XLII - Estates and Trusts|Chapter 736 - Florida Trust Code|Part VI - Revocable Trusts (Ss. 736.0601-736.0604)|736.0601 - Capacity of settlor of revocable trust.

736.0601 Capacity of settlor of revocable trust.—The capacity required to create, amend, revoke, or add property to a revocable trust, or to direct the actions of the trustee of a revocable trust, is the same as that required to make a will.History.—s. 6, ch. 2006-217.
FL Stat § 736.0602 (2021)
2021 Florida Statutes|Title XLII - Estates and Trusts|Chapter 736 - Florida Trust Code|Part VI - Revocable Trusts (Ss. 736.0601-736.0604)|736.0602 - Revocation or amendment of revocable trust.

736.0602 Revocation or amendment of revocable trust.—(1) Unless the terms of a trust expressly provide that the trust is irrevocable, the settlor may revoke or amend the trust. This subsection does not apply to a trust created under an instrument executed before the effective date of this code.(2) If a revocable trust is created or funded by more than one settlor:(a) To the extent the trust consists of community property, the trust may be revoked by either spouse acting alone but may be amended only by joint action of both spouses.(b) To the extent the trust consists of property other than community property, each settlor may revoke or amend the trust with regard to the portion of the trust property attributable to that settlor’s contribution.(c) Upon the revocation or amendment of the trust by fewer than all of the settlors, the trustee shall promptly notify the other settlors of the revocation or amendment.(3) Subject to s. 736.0403(2), the settlor may revoke or amend a revocable trust:(a) By substantial compliance with a method provided in the terms of the trust; or(b) If the terms of the trust do not provide a method, by:1. A later will or codicil that expressly refers to the trust or specifically devises property that would otherwise have passed according to the terms of the trust; or2. Any other method manifesting clear and convincing evidence of the settlor’s intent.(4) Upon revocation of a revocable trust, the trustee shall deliver the trust property as the settlor directs.(5) A settlor’s powers with respect to revocation, amendment, or distribution of trust property may be exercised by an agent under a power of attorney only as authorized by s. 709.2202.(6) A guardian of the property of the settlor may exercise a settlor’s powers with respect to revocation, amendment, or distribution of trust property only as provided in s. 744.441.(7) A trustee who does not know that a trust has been revoked or amended is not liable for distributions made and other actions taken on the assumption that the trust had not been amended or revoked.History.—s. 6, ch. 2006-217; s. 32, ch. 2011-210.
FL Stat § 736.0603 (2021)
2021 Florida Statutes|Title XLII - Estates and Trusts|Chapter 736 - Florida Trust Code|Part VI - Revocable Trusts (Ss. 736.0601-736.0604)|736.0603 - Settlor’s powers; powers of withdrawal.

736.0603 Settlor’s powers; powers of withdrawal.—(1) While a trust is revocable, the duties of the trustee are owed exclusively to the settlor.(2) During the period the power may be exercised, the holder of a power of withdrawal has the rights of a settlor of a revocable trust under this section to the extent of the property subject to the power.(3) Subject to ss. 736.0403(2) and 736.0602(3)(a), the trustee may follow a direction of the settlor that is contrary to the terms of the trust while a trust is revocable.History.—s. 6, ch. 2006-217; s. 6, ch. 2021-183.