Fla. Stat. 736.0402
Requirements for creation

(1)

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

(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:A charitable trust;A trust for the care of an animal, as provided in s. 736.0408; orA trust for a noncharitable purpose, as provided in s. 736.0409.
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.

Source: Section 736.0402 — Requirements for creation, https://www.­flsenate.­gov/Laws/Statutes/2024/0736.­0402 (accessed Aug. 7, 2025).

Current through Fall 2025

§ 736.0402. Requirements for creation's source at flsenate​.gov