Florida Statutes 738.308 – Period
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(1) A unitrust policy must provide the period used under ss. 738.306 and 738.307. The period must be the calendar year.
(2) A unitrust policy may provide standards for:
(a) Using fewer preceding periods under s. 738.306(1)(b)1. or (2)(a) or (b) if:
1. The trust was not in existence in a preceding period; or
2. Market indices or other published data are not available for a preceding period;
Terms Used In Florida Statutes 738.308
- Trust: includes an express trust, whether private or charitable, with additions to the trust, wherever and however created; and a trust created or determined by a judgment or decree under which the trust is to be administered in the manner of an express trust. See Florida Statutes 738.102
(b) Using fewer preceding periods under s. 738.307(2)(e) if:
1. The trust was not in existence in a preceding period; or
2. Fair market values are not available for a preceding period; and
(c) Prorating a unitrust amount on a daily basis for a part of a period in which the trust or the administration of the trust as a unitrust or the interest of any beneficiary commences or terminates.