Bill > S0262

Introduced Session

An act relating to trusts; amending s. 736.04117, F.S.; revising the definition of the term “authorized trustee”; revising how an authorized trustee may exercise the power to invade principal as an authorized trustee administering a trust; providing that notice of such exercise by an authorized trustee is not a trust disclosure document; providing that a trust disclosure document may not commence a limitations period unless such trust disclosure document is provided after the effective date of the exercise of the power to invade principal by an authorized trustee; providing applicability; amending s. 736.08125, F.S.; providing an exception with regard to protection of successor trustees; creating s. 736.10085, F.S.; barring certain actions initiated by specified parties against prior trustees; creating s. 736.1110, F.S.; providing that property devised to or from a revocable trust which is devised, given, or distributed to a donee by a settlor during the settlor’s lifetime is treated as a satisfaction of devise to that donee if certain criteria are met; providing that property distributed or given to a devisee during a settlor’s lifetime is to be valued at the time the devisee came into possession or enjoyment of the property, or at the time of the death of the settlor, whichever occurs first; providing applicability; amending s. 736.1502, F.S.; revising the definitions of the terms “community property” and “community property trust”; amending s. 736.151, F.S.; providing that homestead property transferred by one or both settlor spouses to a community property trust will not be treated as a change of ownership for the purposes of reassessing the property; providing that such transfer qualifies as a change or transfer of legal or equitable title between spouses; providing construction and retroactive application; providing an effective date.

AI Summary

Committee Categories

Lori Berman (D)*, 

Other Sponsors (2)

Chapter No. 2025-159 (on 06/23/2025)

Official Document