736.0812 – Collecting trust property.
736.0812 Collecting trust property.—A trustee shall take reasonable steps to compel a former trustee or other person to deliver trust property to the trustee and, except as provided in s. 736.08125, to redress a breach of trust known to the trustee to have been committed by a former trustee. History.—s. 8, ch. 2006-217.
736.08125 – Protection of successor trustees.
736.08125 Protection of successor trustees.— (1) A successor trustee is not personally liable for actions taken by any prior trustee, nor does any successor trustee have a duty to institute any proceeding against any prior trustee, or file any claim against any prior trustee’s estate, for any of the prior trustee’s actions as trustee under any of […]
736.0813 – Duty to inform and account.
736.0813 Duty to inform and account.—The trustee shall keep the qualified beneficiaries of the trust reasonably informed of the trust and its administration. (1) The trustee’s duty to inform and account includes, but is not limited to, the following: (a) Within 60 days after acceptance of the trust, the trustee shall give notice to the qualified beneficiaries of […]
736.08135 – Trust accountings.
736.08135 Trust accountings.— (1) A trust accounting must be a reasonably understandable report from the date of the last accounting or, if none, from the date on which the trustee became accountable, that adequately discloses the information required in subsection (2). (2)(a) The accounting must begin with a statement identifying the trust, the trustee furnishing the accounting, and […]
736.0814 – Discretionary powers; tax savings.
736.0814 Discretionary powers; tax savings.— (1) Notwithstanding the breadth of discretion granted to a trustee in the terms of the trust, including the use of such terms as “absolute,” “sole,” or “uncontrolled,” the trustee shall exercise a discretionary power in good faith and in accordance with the terms and purposes of the trust and the interests of […]
736.0801 – Duty to administer trust.
736.0801 Duty to administer trust.—Upon acceptance of a trusteeship, the trustee shall administer the trust in good faith, in accordance with its terms and purposes and the interests of the beneficiaries, and in accordance with this code. History.—s. 8, ch. 2006-217.
736.08145 – Grantor trust reimbursement.
736.08145 Grantor trust reimbursement.— (1)(a) Except as otherwise provided under the terms of a trust, if all or any portion of the trust is treated as being owned by a person under s. 671 of the Internal Revenue Code or any similar federal, state, or other tax law, the trustee may, in the trustee’s sole discretion, reimburse […]
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.