CS/HB 1363 2022
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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 public records; creating s. 2
662.1465, F.S.; making the identities of beneficiaries 3
and specified individuals and certain documents in 4
trust proceedings when a family trust company, 5
licensed family trust company, or foreign licensed 6
family trust company is a party confidential and 7
exempt; requiring the court to seal any documents 8
filed with the court in such proceedings; prohibiting 9
the court from releasing to the public any of the 10
sealed documents or information contained therein; 11
providing exceptions; providing a statement of public 12
necessity; providing an effective date. 13
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Be It Enacted by the Legislature of the State of Florida: 15
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Section 1. Section 662.1465, Florida Statutes, is created 17
to read: 18
662.1465 Confidentiality of family trust company 19
proceedings and other filings. —In trust proceedings in which a 20
family trust company, licensed family trust company, or foreign 21
licensed family trust company is a party, the identities of 22
those who establish, administer, or benefit from a trust and any 23
information relating to the trust are confidential and exempt 24
from s. 24(a), Art. I of the State Constitution and must be 25
CS/HB 1363 2022
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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
protected in any court proceeding or filing related to the 26
trust. The court shall seal any document filed with the court in 27
a trust proceeding in which a family trust company, licensed 28
family trust company, or foreign licensed family trust company 29
is a party, including, but not limited to, the instrument on 30
which the trust is based; any petitions, briefs, or inventories; 31
any statement or report filed by a fiduciary; any court orders; 32
and any other document in the court case file. The court may not 33
release to the public any of th e sealed documents or information 34
contained therein, but shall make them available to the 35
following individuals: 36
(1) The settlor. 37
(2) Any fiduciary for the trust. 38
(3) Any beneficiary of the trust. 39
(4) An attorney for the settlor, a fiduciary, or a 40
beneficiary of the trust. 41
(5) Any other person if, upon a showing of a specific 42
interest in the trust or a transaction relating to the trust or 43
an asset held or previously held by the trust, the court 44
determines there is a compelling need for releasing t he 45
information requested. 46
Section 2. The Legislature finds that it is a public 47
necessity that trust proceedings involving family trust 48
companies, licensed family trust companies, or foreign licensed 49
family trust companies be made confidential and exemp t from s. 50
CS/HB 1363 2022
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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
24(a), Article I of the State Constitution. Public disclosure in 51
such trust proceedings of information relating to the clients, 52
family members, members, or stockholders of a family trust 53
company, licensed family trust company, or foreign licensed 54
family trust company would vitiate other protections granted by 55
law to such companies and their constituents. In addition, such 56
trust proceedings often involve large sums of money or 57
vulnerable people who could be targeted for exploitation or 58
abuse. Public disclosure of sensitive family and financial 59
information in trust proceedings can result in specific harm to 60
beneficiaries and other interested parties in these cases. 61
Therefore, the Legislature finds that the need to protect the 62
identities of beneficiar ies of trusts for which a family trust 63
company, licensed family trust company, or foreign licensed 64
family trust company is a trustee and the sensitive financial 65
information contained in such proceedings is sufficiently 66
compelling to override the state's pu blic policy of open 67
government and that the protection of such information cannot be 68
accomplished without this exemption. 69
Section 3. This act shall take effect July 1, 2022. 70