736.08163 – Powers of trustees relating to environmental or human health laws or to trust property contaminated with hazardous or toxic substances; liability.
736.08163 Powers of trustees relating to environmental or human health laws or to trust property contaminated with hazardous or toxic substances; liability.— (1) From the creation of a trust until final distribution of the assets from the trust, the trustee has, without court authorization, the powers specified in subsection (2). (2) Unless otherwise provided in the trust instrument, […]
736.08165 – Administration pending outcome of contest or other proceeding.
736.08165 Administration pending outcome of contest or other proceeding.— (1) Pending the outcome of a proceeding filed to determine the validity of all or part of a trust or the beneficiaries of all or part of a trust, the trustee shall proceed with the administration of the trust as if no proceeding had been commenced, except no […]
736.0817 – Distribution on termination.
736.0817 Distribution on termination.—Upon the occurrence of an event terminating or partially terminating a trust, the trustee shall proceed expeditiously to distribute the trust property to the persons entitled to the property, subject to the right of the trustee to retain a reasonable reserve for the payment of debts, expenses, and taxes. The provisions of this […]
736.0802 – Duty of loyalty.
736.0802 Duty of loyalty.— (1) As between a trustee and the beneficiaries, a trustee shall administer the trust solely in the interests of the beneficiaries. (2) Subject to the rights of persons dealing with or assisting the trustee as provided in s. 736.1016, a sale, encumbrance, or other transaction involving the investment or management of trust property entered […]
736.08147 – Duty to distribute trust income.
736.08147 Duty to distribute trust income.—If a will or trust instrument granting income to the settlor’s or testator’s spouse for life is silent as to the time of distribution of income and the frequency of distributions, the trustee shall distribute all net income, as defined in chapter 738, to the spouse no less frequently than annually. […]
736.0803 – Impartiality.
736.0803 Impartiality.—If a trust has two or more beneficiaries, the trustee shall act impartially in administering the trust property, giving due regard to the beneficiaries’ respective interests. History.—s. 8, ch. 2006-217.
736.0815 – General powers of trustee.
736.0815 General powers of trustee.— (1) A trustee, without authorization by the court, may, except as limited or restricted by this code, exercise: (a) Powers conferred by the terms of the trust. (b) Except as limited by the terms of the trust: 1. All powers over the trust property that an unmarried competent owner has over individually owned property. 2. Any […]
736.0804 – Prudent administration.
736.0804 Prudent administration.—A trustee shall administer the trust as a prudent person would, by considering the purposes, terms, distribution requirements, and other circumstances of the trust. In satisfying this standard, the trustee shall exercise reasonable care, skill, and caution. History.—s. 8, ch. 2006-217.
736.0816 – Specific powers of trustee.
736.0816 Specific powers of trustee.—Except as limited or restricted by this code, a trustee may: (1) Collect trust property and accept or reject additions to the trust property from a settlor, including an asset in which the trustee is personally interested, and hold property in the name of a nominee or in other form without disclosure of […]
736.0805 – Expenses of administration.
736.0805 Expenses of administration.—In administering a trust, the trustee shall only incur expenses that are reasonable in relation to the trust property, the purposes of the trust, and the skills of the trustee. History.—s. 8, ch. 2006-217.