WebApr 21, 2024 · While Florida has some form of directed trust statutes on the books (i.e., Fla. Stat. § 736.0703(9) and § 736.0808(2)), such provisions have been found deficient in several aspects by Florida ... WebJan 14, 2024 · On July 1, 2024, two new acts affecting trusts were in enacted in Florida, the Florida Uniform Directed Trust Act and the Florida Community Property Trust Act. While both of these Acts are targeted in nature, they could provide an excellent planning opportunity for those with the right situation. Below are the highlights of these new laws.
Brand New Community Property Trust Law In Florida
WebCHAPTER 736 FLORIDA TRUST CODE PART I GENERAL PROVISIONS AND DEFINITIONS (ss. 736.0101-736.0112) PART II JUDICIAL PROCEEDINGS (ss. 736.0201-736.0207) PART III REPRESENTATION (ss. 736.0301-736.0306) PART IV CREATION, VALIDITY, MODIFICATION, AND TERMINATION (ss. 736.0401-736.0417) PART V … Web2024 Florida Statutes (Including 2024B Session) Title XLII ESTATES AND TRUSTS Chapter 736 FLORIDA TRUST CODE Entire Chapter CHAPTER 736 FLORIDA TRUST CODE PART I General provisions and definitions (ss. 736.0101-736.0112) PART II … lithonia eu2c m6 led
Enactment of FUDTA and CPTA Change the Rules on Florida Trusts
WebMar 18, 2024 · A new law which was recently passed in Florida and became effective on July 1, 2024, known as the “Florida Community Property Trust Act,” all Florida residents should acquaint themselves with the concept of community property and be aware of the significant income tax benefits which can arise from owning community property. http://www.leg.state.fl.us/Statutes/index.cfm?App_mode=Display_Statute&URL=0700-0799/0736/Sections/0736.1503.html WebAug 2, 2024 · 8.2.2024 Florida has enacted new legislation allowing married couples to create a Community Property Trust (CPT). Currently (except in community property states), when the first spouse dies, his or her own assets receive a step-up in basis to their date-of-death value. Assets owned jointly receive this step-up in basis for one-half of the … lithonia evo4pc