Testamentary Trusts in Florida
Testamentary trust: created by will, effective at death. Goes through probate; funded from estate. Uses: minor children, surviving spouse, and incapable beneficiaries. vs. living trust: testamentary = probate, public, court oversight; living = avoids probate, private. Administration (Chapter 736): trustee invests (FL Prudent Investor Act), distributes, files Form 1041, and provides accountings (Section 736.0813). Court may retain jurisdiction. Trustee = fiduciary.
What It Is
- Created by will, effective at death
- Goes through probate
- Funded from estate
vs. Living Trust
- Testamentary: public, court oversight
- Living: private, avoids probate
- Simpler to create
Administration
- Chapter 736: FL Trust Code
- Prudent investing, accountings
- Trustee = fiduciary
Related Terms
- Trust — Estate planning
Barnes Walker Estate Planning
Barnes Walker’s attorneys create testamentary trusts in Florida. Request a legal inquiry for assistance.
Florida Law Reference
Fla. Stat. Ch. 736 (Florida Trust Code)
The Florida Trust Code governs the creation, modification, and administration of trusts, including trustee duties, beneficiary rights, and trust termination.
Reviewed by the attorneys at Barnes Walker, Goethe, Shea & Robinson, PLLC