Trustor (Settlor) in Florida
Trustor (settlor/grantor): person who creates a trust. FL Trust Code (Chapter 736): uses "settlor." Transfers property, establishes terms, names beneficiaries. Powers: revocable (amend, revoke, direct, change beneficiaries; Section 736.0602) and irrevocable (generally gives up control). Can serve as own trustee. Must have legal capacity. vs. trustee (manages) and beneficiary (receives benefits). One person can serve multiple roles. At death/incapacity: successor trustee takes over.
What It Is
- Creates the trust
- Transfers property, sets terms
- FL uses "settlor"
Powers
- Revocable: amend, revoke, direct
- Irrevocable: limited
- Can be own trustee
vs. Trustee/Beneficiary
- Trustor: creates
- Trustee: manages
- Beneficiary: receives
Related Terms
- Trust — Overview
Barnes Walker Estate Planning
Barnes Walker’s attorneys advise trustors 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