Florida § 736.0402 Requirements for creation

Florida Statutes

§ 736.0402 — Requirements for creation

Florida § 736.0402

TitleXLII

Ch. 736FLORIDA TRUST CODE

This text of Florida § 736.0402 (Requirements for creation) is published on Counsel Stack Legal Research, covering Florida primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Fla. Stat. § 736.0402 (2026).

Text

(1)A trust is created only if:

(a)The settlor has capacity to create a trust.

(b)The settlor indicates an intent to create the trust.

(c)The trust has a definite beneficiary or is: 1. A charitable trust; 2. A trust for the care of an animal, as provided in s. 736.0408; or 3. A trust for a noncharitable purpose, as provided in s. 736.0409.

(d)The trustee has duties to perform.

(e)The same person is not the sole trustee and sole beneficiary.

(2)A beneficiary is definite if the beneficiary can be ascertained now or in the future, subject to any applicable rule against perpetuities.

(3)A power of a trustee to select a beneficiary from an indefinite class is valid. If the power is not exercised within a reasonable time, the power fails and the property subject to the power passes to t

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(1) A trust is created only if: (a) The settlor has capacity to create a trust. (b) The settlor indicates an intent to create the trust. (c) The trust has a definite beneficiary or is: 1. A charitable trust; 2. A trust for the care of an animal, as provided in s. 736.0408; or 3. A trust for a noncharitable purpose, as provided in s. 736.0409. (d) The trustee has duties to perform. (e) The same person is not the sole trustee and sole beneficiary.

(2) A beneficiary is definite if the beneficiary can be ascertained now or in the future, subject to any applicable rule against perpetuities.

(3) A power of a trustee to select a beneficiary from an indefinite class is valid. If the power is not exercised within a reasonable time, the power fails and the property subject to the power passes to the persons who would have taken the property had the power not been conferred.