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F L O R I D A H O U S E O F R E P R E S E N T A T I V E S
A bill to be entitled 1
An act relating to trusts; amending s. 689.225, F.S.; 2
revising criteria for application of the rule against 3
perpetuities to trusts created on or after a specified 4
date; amending s. 736.0105, F.S.; specifying that the 5
terms of a trust do not prevail over a trustee's duty 6
to account to qualified beneficiaries upon termination 7
of the trust; providing construction; amending s. 8
736.0109, F.S.; clarifying circum stances under which 9
notice, or the sending of a document, to a person 10
under the Florida Trust Code is deemed satisfied; 11
amending s. 736.0303, F.S.; specifying circumstances 12
under which a parent may represent and bind the unborn 13
descendants of his or her un born or minor child; 14
amending s. 736.0409, F.S.; revising the timeframe for 15
which certain noncharitable trusts may be enforced; 16
amending s. 736.08135, F.S.; providing an alternate 17
procedure for trust accountings under certain 18
circumstances; specifying requ irements and 19
applicability; amending s. 736.08145, F.S.; clarifying 20
the application of law governing grantor trust 21
reimbursement; providing an effective date. 22
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Be It Enacted by the Legislature of the State of Florida: 24
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Section 1. Paragraph (f) of s ubsection (2) of section 26
689.225, Florida Statutes, is amended, and paragraph (g) is 27
added to that subsection to read: 28
689.225 Statutory rule against perpetuities. — 29
(2) STATEMENT OF THE RULE. — 30
(f) As to any trust created after December 31, 2000, 31
through June 30, 2022, this section shall apply to a nonvested 32
property interest or power of appointment contained in a trust 33
by substituting 360 years in place of "90 years" in each place 34
such term appears in this section unless the terms of the trust 35
require that all beneficial interests in the trust vest or 36
terminate within a lesser period. 37
(g) As to any trust created on or after July 1, 2022, this 38
section shall apply to a nonvested property interest or power of 39
appointment contained in a trust by substitu ting 1,000 years in 40
place of "90 years" in each place such term appears in this 41
section unless the terms of the trust require that all 42
beneficial interests in the trust vest or terminate within a 43
lesser period. 44
Section 2. Paragraph (s) of subsection (2 ) of section 45
736.0105, Florida Statutes, is amended to read: 46
736.0105 Default and mandatory rules. — 47
(2) The terms of a trust prevail over any provision of 48
this code except: 49
(s) The duty under s. 736.0813(1)(c) and (d) to provide a 50
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complete copy of the trust instrument and to account to 51
qualified beneficiaries on termination of the trust; provided 52
that nothing in this paragraph shall be construed to: 53
1. Prevent a trustee from voluntarily accounting to 54
qualified beneficiaries annually or at other time s selected by 55
the trustee; or 56
2. Relieve a trustee from the duty to account to the 57
qualified beneficiaries upon demand of such qualified 58
beneficiaries annually, or at less frequent intervals . 59
Section 3. Subsections (1) and (4) of section 736.0109, 60
Florida Statutes, are amended to read: 61
736.0109 Methods and waiver of notice. — 62
(1) Notice to a person under this code or the sending of a 63
document to a person under this code must be accomplished in a 64
manner reasonably suitable under the circumstances and likely to 65
result in receipt of the notice or document. Permissible methods 66
of notice or for sending a document include first -class mail, 67
personal delivery, delivery to the person's last known place of 68
residence or place of business, a properly directed facsimile or 69
other electronic message which includes, but is not limited to, 70
e-mail, or posting on a secure electronic account or website in 71
accordance with subsection (3). Notwithstanding subsection (3), 72
a properly directed e -mail message with an attached notice or 73
document or hyperlink through which the recipient can view a 74
notice or document is a permissible method of notice under this 75
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section, provided that any username, password, or other specific 76
instructions needed to access the document or notice is 77
communicated to the recipient either contemporaneously or on 78
request. 79
(4) Notice to a person under this code, or the sending of 80
a document to a person under this code by electronic message, 81
including e-mail with an attached notice or document or an 82
included hyperlink through which the recipient can access the 83
notice or document, is complete when the notice or document is 84
sent. 85
(a) An electronic message is presumed received on the date 86
that the message is sent. 87
(b) If the sender has knowledge that an electronic message 88
did not reach the recipient, the electronic message is deemed to 89
have not been received. The sender has the burden to prove that 90
another copy of the notice or document was sent by electronic 91
message or by other means authorized by this section. 92
Section 4. Subsection (5) of section 736.0303, Florida 93
Statutes, is amended to read: 94
736.0303 Representation by fiduciaries and parents. —To the 95
extent there is no conflict of interest between the 96
representative and the person represented or among those being 97
represented with respect to a particular question or dispute: 98
(5) A parent may represent and bind the parent's unborn 99
child and the unborn descendants of such unborn child , or the 100
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parent's minor child and the minor or unborn descendants of such 101
minor child, if a guardian of the property for the unborn child, 102
minor child, or such child's descendants has not been appointed. 103
Section 5. Subsection (1) of section 736.0409, Florida 104
Statutes, is amended to read: 105
736.0409 Noncharitable trust without ascertainable 106
beneficiary.—Except as otherwise provided in s. 736.0408 or by 107
another provision of law, the following rules apply: 108
(1) A trust may be created for a noncharitable purpose 109
without a definite or definitely ascertainable beneficiary or 110
for a noncharitable but otherwise valid purpose to be selected 111
by the trustee. The trust may not be enforced for more than 112
1,000 21 years. 113
Section 6. Subsection (3) of section 736.08135, is 114
renumbered as subsection (4) and amended, and a new subsection 115
(3) is added to that section, to read: 116
736.08135 Trust accountings. — 117
(3) Notwithstanding subsections (1) and (2), a trustee may 118
elect, for any accounting period, to provide a statement to any 119
beneficiary which indicates that the trustee has made such 120
election for that period and which includes all of the 121
following: 122
(a) The information required by paragraph (2)(a) and, if 123
applicable, the information required by paragraph (2)(f). 124
(b) A financial statement for the trust prepared by a 125
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certified public accountant which summarizes the information 126
specified in paragraphs (2)(b) -(e), provided that such financial 127
statement shall contain sufficient information to put the 128
beneficiary on notice of the trust's comprehensive assets and 129
liabilities as well as the transactions occurring during the 130
accounting period. A financial statement th at reports the 131
aggregate amounts of all cash and property transactions, gains, 132
losses, receipts, expenses, disbursements, accruals, or 133
allowances occurring within the accounting period for each 134
category would be authorized under this paragraph. 135
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For purposes of this chapter, a statement that a trustee 137
provides to a beneficiary of the trust under this subsection is 138
deemed to be a trust accounting that adequately discloses the 139
information required in subsection (2). Any trustee that makes 140
the election provide d in this subsection shall, upon a request 141
of any beneficiary of the trust made within the limitations 142
period prescribed by s. 736.1008, make available the detailed 143
information necessary for preparation of the statement within 30 144
days after such request. 145
(4)(3) Subsections (1) and (2) govern the form and content 146
of all trust accountings rendered for any accounting periods 147
beginning on or after January 1, 2003, and all trust accountings 148
rendered on or after July 1, 2018. The election provided in 149
subsection (3) for trustees is available for any accounting 150
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periods beginning on or after January 1, 2021. This subsection 151
does not affect the beginning period from which a trustee is 152
required to render a trust accounting. 153
Section 7. Subsection (2) of section 73 6.08145, Florida 154
Statutes, is amended to read: 155
736.08145 Grantor trust reimbursement. — 156
(2) This section applies to all trusts that are governed 157
by the laws of the state or that have a principal place of 158
administration within the state , whether created on, before, or 159
after July 1, 2020, unless: 160
(a) The trustee provides written notification that the 161
trustee intends to irrevocably elect out of the application of 162
this section, at least 60 days before the effective date of such 163
election, to the person trea ted as the owner of all or a portion 164
of the trust under s. 671 of the Internal Revenue Code or any 165
similar federal, state, or other tax law and to all persons who 166
have the ability to remove and replace the trustee. 167
(b) Applying this section would prevent a contribution to 168
the trust from qualifying for, or would reduce, a federal tax 169
benefit, including a federal tax exclusion or deduction, which 170
was originally claimed or could have been claimed for the 171
contribution, including: 172
1. An exclusion under s. 25 03(b) or s. 2503(c) of the 173
Internal Revenue Code; 174
2. A marital deduction under s. 2056, s. 2056A, or s. 2523 175
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of the Internal Revenue Code; 176
3. A charitable deduction under s. 170(a), s. 642(c), s. 177
2055(a), or s. 2522(a) of the Internal Revenue Code; or 178
4. Direct skip treatment under s. 2642(c) of the Internal 179
Revenue Code. 180
Section 8. This act shall take effect July 1, 2022. 181