Florida Statutes 732.513 – Devises to trustee
Current as of: 2024 | Check for updates
|
Other versions
(1) A valid devise may be made to the trustee of a trust that is evidenced by a written instrument in existence at the time of making the will, or by a written instrument subscribed concurrently with making of the will, if the written instrument is identified in the will.
(2) The devise shall not be invalid for any or all of the following reasons:
(a) Because the trust is amendable or revocable, or both, by any person.
Terms Used In Florida Statutes 732.513
- Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
- Bequest: Property gifted by will.
- Codicil: An addition, change, or supplement to a will executed with the same formalities required for the will itself.
- Contract: A legal written agreement that becomes binding when signed.
- Devise: To gift property by will.
- person: includes individuals, children, firms, associations, joint adventures, partnerships, estates, trusts, business trusts, syndicates, fiduciaries, corporations, and all other groups or combinations. See Florida Statutes 1.01
- Testator: A male person who leaves a will at death.
- Trustee: A person or institution holding and administering property in trust.
- writing: includes handwriting, printing, typewriting, and all other methods and means of forming letters and characters upon paper, stone, wood, or other materials. See Florida Statutes 1.01
(b) Because the trust has been amended or revoked in part after execution of the will or a codicil to it.
(c) Because the only res of the trust is the possible expectancy of receiving, as a named beneficiary, a devise under a will or death benefits as described in s. 733.808, and even though the testator or other person has reserved any or all rights of ownership in the death benefit policy, contract, or plan, including the right to change the beneficiary.
(d) Because of any of the provisions of s. 689.075.
(3) The devise shall dispose of property under the terms of the instrument that created the trust as previously or subsequently amended.
(4) An entire revocation of the trust by an instrument in writing before the testator’s death shall invalidate the devise or bequest.
(5) Unless the will provides otherwise, the property devised shall not be held under a testamentary trust of the testator but shall become a part of the principal of the trust to which it is devised.