The 2023 Florida Statutes (including Special Session C)

Title XLII
ESTATES AND TRUSTS

Chapter 736
FLORIDA TRUST CODE

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F.S. 736.0402

736.0402 Requirements for creation.—

(1) A trust is created only if:

(a) The settlor has capacity to create a trust.

(b) The settlor indicates an intent to create the trust.

1. A charitable trust;

2. A trust for the care of an animal, as provided in s. 736.0408; or

3. A trust for a noncharitable purpose, as provided in s. 736.0409.

(d) The trustee has duties to perform.

(e) The same person is not the sole trustee and sole beneficiary.

(2) A beneficiary is definite if the beneficiary can be ascertained now or in the future, subject to any applicable rule against perpetuities.

(3) A power of a trustee to select a beneficiary from an indefinite class is valid. If the power is not exercised within a reasonable time, the power fails and the property subject to the power passes to the persons who would have taken the property had the power not been conferred.

History.—s. 4, ch. 2006-217.

F.S. 736.0402 on Google Scholar

F.S. 736.0402 on Casetext

Amendments to 736.0402

Arrestable Offenses / Crimes under Fla. Stat. 736.0402

Level: Degree
Misdemeanor/Felony: First/Second/Third

Current data shows no reason an arrest or criminal charge should have occurred directly under Florida Statute 736.0402.

Annotations, Discussions, Cases:

Cases from cite.case.law:

RACHINS v. M. MINASSIAN, PC,, 251 So. 3d 919 (Fla. App. Ct. 2018)

. . . qualified beneficiaries of the original Trust, as amended by the trust protector"; and (2) section 736.0402 . . . See § 736.0402(1)(e), Fla. Stat. (2017) ("(1) a trust is created only if: ... . . .

GOSSETT, v. M. GOSSETT, F. u a d A., 182 So. 3d 694 (Fla. Dist. Ct. App. 2015)

. . . the Fourth and Fifth Amended Trusts for improper execution, invalidity under sections 736.06Ó1 and 736.0402 . . .

L. MEGIEL- ROLLO, P. M. v. J. MEGIEL,, 162 So. 3d 1088 (Fla. Dist. Ct. App. 2015)

. . . REVOCABLE TRUST was never created pursuant to Florida Statutes § 736.0402 as there were no definite beneficiaries . . .

JASSER, As Co- H. v. H. SAADEH,, 97 So. 3d 241 (Fla. Dist. Ct. App. 2012)

. . . Section 736.0402(1), Florida Statute (2008), provides that “[ajtrust is created only if: (a) the settler . . . has capacity to create a trust.” § 736.0402(l)(a), Fla. . . .