ENROLLED 2022 Legislature CS for SB 1502 20221502er 1 2 An act relating to estates and trusts; amending s. 3 733.705, F.S.; providing that the requirement for a 4 claimant to file an independent action is satisfied if 5 specified actions are taken; specifying that 6 claimants, not creditors, are given certain priority 7 of claims; amending s. 736.0505, F.S.; revising the 8 types of trusts deemed to have been contributed by a 9 settlors spouse and not the settlor; amending s. 10 736.0705, F.S.; providing that a trustee may resign by 11 specified procedure and with notice to certain 12 parties; providing an effective date. 13 14 Be It Enacted by the Legislature of the State of Florida: 15 16 Section 1.Subsection (5) of section 733.705, Florida 17 Statutes, is amended to read: 18 733.705Payment of and objection to claims. 19 (5)The claimant is limited to a period of 30 days from the 20 date of service of an objection within which to bring an 21 independent action upon the claim, or a declaratory action to 22 establish the validity and amount of an unmatured claim which is 23 not yet due but which is certain to become due in the future, or 24 a declaratory action to establish the validity of a contingent 25 claim upon which no cause of action has accrued on the date of 26 service of an objection and that may or may not become due in 27 the future, unless an extension of this time is agreed to by the 28 personal representative in writing before it expires. 29 (a)For good cause, the court may extend the time for 30 filing an action or proceeding after objection is filed. No 31 action or proceeding on the claim may be brought against the 32 personal representative after the time limited above, and the 33 claim is barred without court order. 34 (b)If an action or proceeding by the claimant is pending 35 against the decedent at the time of the decedents death, the 36 requirement to bring an independent action is satisfied if, 37 within 30 days after the filing of an objection to the claim: 38 1.A motion complying with all applicable rules of 39 procedure is filed, or a similar procedure is initiated, to 40 substitute the proper party; or 41 2.An order substituting the proper party is entered. 42 (c)If the decedent entered into a binding arbitration 43 agreement relating to the claim during his or her lifetime, or 44 if arbitration is required under s. 731.401, the requirement to 45 bring an independent action is satisfied if, within 30 days 46 after the filing of an objection to the claim, a motion to 47 compel arbitration against the proper party is initiated, as 48 provided for in s. 682.03. 49 (d)If arbitration was commenced before the decedents 50 death, the requirement to bring an independent action is 51 satisfied if, within 30 days after the filing of an objection to 52 the claim, notice is given to the proper party. If the 53 arbitration was commenced by order of the court, the notice must 54 take the form of a timely filed motion, complying with all 55 applicable rules of procedure, to substitute the proper party. 56 (e)If an objection is filed to the claim of any claimant 57 creditor and the claimant creditor brings an action to establish 58 the claim, a judgment establishing the claim shall give it no 59 priority over claims of the same class to which it belongs. 60 Section 2.Subsection (3) of section 736.0505, Florida 61 Statutes, is amended to read: 62 736.0505Creditors claims against settlor. 63 (3)Subject to the provisions of s. 726.105, for purposes 64 of this section, the assets in: 65 (a)1.A trust described in s. 2523(e) of the Internal 66 Revenue Code of 1986, as amended;, or 67 2.A trust for which the election described in s. 2523(f) 68 of the Internal Revenue Code of 1986, as amended, has been made; 69 or 70 3.An irrevocable trust not otherwise described in 71 subparagraph 1. or subparagraph 2. in which: 72 a.The settlors spouse is a beneficiary as described in s. 73 736.0103(19)(a) for the lifetime of the settlors spouse; 74 b.At no time during the lifetime of the settlors spouse 75 is the settlor a beneficiary as described in s. 736.0103(19)(a); 76 and 77 c.Transfers to the trust by the settlor are completed 78 gifts under s. 2511 of the Internal Revenue Code of 1986, as 79 amended; and 80 (b)Another trust, to the extent that the assets in the 81 other trust are attributable to a trust described in paragraph 82 (a), 83 84 shall, after the death of the settlors spouse, be deemed to 85 have been contributed by the settlors spouse and not by the 86 settlor. 87 Section 3.Subsection (1) of section 736.0705, Florida 88 Statutes, is amended to read: 89 736.0705Resignation of trustee. 90 (1)A trustee may resign in accordance with the procedure 91 set forth in the trust instrument and upon notice to the 92 cotrustees or, if none, to the successor trustee who has 93 accepted the appointment, or, if none, to the person or persons 94 who have the authority to appoint a successor trustee. 95 Notwithstanding any provision of the terms of the trust, a 96 trustee may also resign: 97 (a)Upon at least 30 days notice to the qualified 98 beneficiaries, the settlor, if living, and all cotrustees; or 99 (b)With the approval of the court. 100 Section 4.This act shall take effect July 1, 2022.