The 2023 Florida Statutes (including Special Session C)

Title XLII
ESTATES AND TRUSTS

Chapter 736
FLORIDA TRUST CODE

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F.S. 736.0504

736.0504 Discretionary trusts; effect of standard.—

(1) As used in this section, the term “discretionary distribution” means a distribution that is subject to the trustee’s discretion whether or not the discretion is expressed in the form of a standard of distribution and whether or not the trustee has abused the discretion.

(2) Whether or not a trust contains a spendthrift provision, if a trustee may make discretionary distributions to or for the benefit of a beneficiary, a creditor of the beneficiary, including a creditor as described in s. 736.0503(2), may not:

(a) Compel a distribution that is subject to the trustee’s discretion; or

(b) Attach or otherwise reach the interest, if any, which the beneficiary might have as a result of the trustee’s authority to make discretionary distributions to or for the benefit of the beneficiary.

(3) If the trustee’s discretion to make distributions for the trustee’s own benefit is limited by an ascertainable standard, a creditor may not reach or compel distribution of the beneficial interest except to the extent the interest would be subject to the creditor’s claim were the beneficiary not acting as trustee.

(4) This section does not limit the right of a beneficiary to maintain a judicial proceeding against a trustee for an abuse of discretion or failure to comply with a standard for distribution.

History.—s. 5, ch. 2006-217; s. 14, ch. 2007-153.

F.S. 736.0504 on Google Scholar

F.S. 736.0504 on Casetext

Amendments to 736.0504

Arrestable Offenses / Crimes under Fla. Stat. 736.0504

Level: Degree
Misdemeanor/Felony: First/Second/Third

Current data shows no reason an arrest or criminal charge should have occurred directly under Florida Statute 736.0504.

Annotations, Discussions, Cases:

Cases from cite.case.law:

D. BERLINGER, v. CASSELBERRY,, 133 So. 3d 961 (Fla. Dist. Ct. App. 2013)

. . . See also §§ 736.0503, 736.0504. . . . Sections 736.0503 and 736.0504 In 2006, the Florida legislature enacted the Florida Trust Code. . . . Sections 736.0503 and 736.0504 of the code are especially relevant to this case. . . . According to section 736.0504(2), a former spouse may not compel a distribution that is subject to the . . . Sections 736.0503 and 736.0504 codify the Florida Supreme Court’s holding in Bacardi Neither section . . .

K. INGLIS, v. ROBERTA SUE CASSELBERRY,, 137 So. 3d 389 (Fla. Dist. Ct. App. 2013)

. . . testified that the trusts were discretionary and opined that the applicable trust statute, section 736.0504 . . .

F. MILLER, v. KRESSER LLC, F. v. F. LLC, a, 34 So. 3d 172 (Fla. Dist. Ct. App. 2010)

. . . . § 736.0504(2), Fla. Stat. (2009). . . . This applies whether or not the trustee has abused his discretion in managing the trust. § 736.0504(1 . . .

DEXIA CREDIT LOCAL, v. G. ROGAN,, 624 F. Supp. 2d 970 (N.D. Ill. 2009)

. . . . § 736.0504(2). . . . To the extent the Rogan children rely on section 736.0504, they implicitly concede that section 736.0505 . . . Assuming these two sections of the Florida Trust Code apply to the RPP trust, section 736.0504 provides . . . Thus to the extent there is a conflict between sections 736.0504 and 736.0505, section 736.0505 controls . . .