Trusts in Florida
Trust (Chapter 736, FL Trust Code): settlor creates, trustee manages, beneficiary benefits. Types: revocable living (amend/revoke), irrevocable (cannot change), and testamentary (created by will). Benefits: probate avoidance, privacy, incapacity planning, asset protection, tax planning, and distribution control. Creation (Section 736.0401): capacity, intent, definite beneficiary, trustee duties. Real property: writing required. Fund: deed, re-title, assign. FL: no state income tax on distributed trust income.
Types
- Revocable: amend/revoke
- Irrevocable: fixed
- Testamentary: from will
Benefits
- Probate avoidance, privacy
- Incapacity planning
- Asset protection, tax planning
Creation
- Section 736.0401: requirements
- Real property: writing required
- Fund by transfer to trustee
Related Terms
- Testamentary Trust — From will
Barnes Walker Estate Planning
Barnes Walker’s attorneys create trusts in Florida. Request a legal inquiry for assistance.
Florida Law Reference
Fla. Stat. Ch. 736 (Florida Trust Code)
The Florida Trust Code governs the creation, modification, and administration of trusts, including trustee duties, beneficiary rights, and trust termination.
Reviewed by the attorneys at Barnes Walker, Goethe, Shea & Robinson, PLLC