ENROLLED
       2013 Legislature                            CS for CS for SB 492
       
       
       
       
       
       
                                                              2013492er
    1  
    2         An act relating to estates; amending s. 198.13, F.S.;
    3         providing for retroactive application; deleting a
    4         provision that provides that certain information
    5         relating to a state death tax credit or a generation
    6         skipping transfer credit is not applicable to estates
    7         of decedents dying after a specific date; amending s.
    8         717.101, F.S.; providing a definition; amending s.
    9         717.112, F.S.; providing an exception to property held
   10         by agents and fiduciaries; creating s. 717.1125, F.S.;
   11         providing that property held by fiduciaries under
   12         trust instruments is presumed unclaimed under certain
   13         circumstances; amending s. 731.110, F.S.; specifying
   14         that a certain subsection does not require a caveator
   15         to be served with formal notice of its own petition
   16         for administration; amending s. 732.703, F.S.;
   17         revising language regarding instruments governed by
   18         the laws of a different state; creating s. 732.806,
   19         F.S.; providing provisions relating to gifts to
   20         lawyers and other disqualified persons; amending s.
   21         732.901, F.S.; requiring the custodian of a will to
   22         supply the testator’s date of death or the last four
   23         digits of the testator’s social security number upon
   24         deposit; providing that an original will submitted
   25         with a pleading is considered to be deposited with the
   26         clerk; requiring the clerk to retain and preserve the
   27         original will in its original form for a certain
   28         period of time; amending s. 736.0103, F.S.; providing
   29         definitions; amending s. 736.0202, F.S.; providing for
   30         in rem jurisdiction and personal jurisdiction over a
   31         trustee, beneficiary, or other person; deleting a
   32         provision referring to other methods of obtaining
   33         jurisdiction; creating s. 736.02025, F.S.; providing
   34         provisions for methods of service of process in
   35         actions involving trusts and trust beneficiaries;
   36         repealing s. 736.0205, F.S., relating to trust
   37         proceedings and the dismissal of matters relating to
   38         foreign trusts; repealing s. 736.0807(4), F.S.,
   39         relating to delegation of powers by a trustee;
   40         amending s. 736.0813, F.S.; clarifying the duties of a
   41         trustee to provide a trust accounting; amending ss.
   42         607.0802, 731.201, 733.212, 736.0802, 736.08125, and
   43         738.104, F.S.; conforming cross-references; providing
   44         an effective date.
   45  
   46  Be It Enacted by the Legislature of the State of Florida:
   47  
   48         Section 1. Retroactive to January 1, 2013, subsection (4)
   49  of section 198.13, Florida Statutes, is amended to read:
   50         198.13 Tax return to be made in certain cases; certificate
   51  of nonliability.—
   52         (4) Notwithstanding any other provisions of this section
   53  and applicable to the estate of a decedent who dies after
   54  December 31, 2004, if, upon the death of the decedent, a state
   55  death tax credit or a generation-skipping transfer credit is not
   56  allowable pursuant to the Internal Revenue Code of 1986, as
   57  amended:
   58         (a) The personal representative of the estate is not
   59  required to file a return under subsection (1) in connection
   60  with the estate.
   61         (b) The person who would otherwise be required to file a
   62  return reporting a generation-skipping transfer under subsection
   63  (3) is not required to file such a return in connection with the
   64  estate.
   65  
   66  The provisions of this subsection do not apply to estates of
   67  decedents dying after December 31, 2012.
   68         Section 2. Present subsections (22) and (23) of section
   69  717.101, Florida Statutes, are redesignated as subsections (23)
   70  and (24), respectively, and a new subsection (22) is added to
   71  that section, to read:
   72         717.101 Definitions.—As used in this chapter, unless the
   73  context otherwise requires:
   74         (22) “Trust instrument” means a trust instrument as defined
   75  in s. 736.0103.
   76         Section 3. Subsection (1) of section 717.112, Florida
   77  Statutes, is amended to read:
   78         717.112 Property held by agents and fiduciaries.—
   79         (1) Except as provided in ss. 717.1125 and 733.816, all
   80  intangible property and any income or increment thereon held in
   81  a fiduciary capacity for the benefit of another person is
   82  presumed unclaimed unless the owner has within 5 years after it
   83  has become payable or distributable increased or decreased the
   84  principal, accepted payment of principal or income, communicated
   85  concerning the property, or otherwise indicated an interest as
   86  evidenced by a memorandum or other record on file with the
   87  fiduciary.
   88         Section 4. Section 717.1125, Florida Statutes, is created
   89  to read:
   90         717.1125Property held by fiduciaries under trust
   91  instruments.—All intangible property and any income or increment
   92  thereon held in a fiduciary capacity for the benefit of another
   93  person under a trust instrument is presumed unclaimed unless the
   94  owner has, within 2 years after it has become payable or
   95  distributable, increased or decreased the principal, accepted
   96  payment of principal or income, communicated concerning the
   97  property, or otherwise indicated an interest as evidenced by a
   98  memorandum or other record on file with the fiduciary.
   99         Section 5. Subsection (3) of section 731.110, Florida
  100  Statutes, is amended to read:
  101         731.110 Caveat; proceedings.—
  102         (3) If a caveat has been filed by an interested person
  103  other than a creditor, the court may not admit a will of the
  104  decedent to probate or appoint a personal representative until
  105  formal notice of the petition for administration has been served
  106  on the caveator or the caveator’s designated agent and the
  107  caveator has had the opportunity to participate in proceedings
  108  on the petition, as provided by the Florida Probate Rules. This
  109  subsection does not require a caveator to be served with formal
  110  notice of its own petition for administration.
  111         Section 6. Subsection (4) of section 732.703, Florida
  112  Statutes, is amended to read:
  113         732.703 Effect of divorce, dissolution, or invalidity of
  114  marriage on disposition of certain assets at death.—
  115         (4) Subsection (2) does not apply:
  116         (a) To the extent that controlling federal law provides
  117  otherwise;
  118         (b) If the governing instrument is signed by the decedent,
  119  or on behalf of the decedent, after the order of dissolution or
  120  order declaring the marriage invalid and such governing
  121  instrument expressly provides that benefits will be payable to
  122  the decedent’s former spouse;
  123         (c) To the extent a will or trust governs the disposition
  124  of the assets and s. 732.507(2) or s. 736.1105 736.1005 applies;
  125         (d) If the order of dissolution or order declaring the
  126  marriage invalid requires that the decedent acquire or maintain
  127  the asset for the benefit of a former spouse or children of the
  128  marriage, payable upon the death of the decedent either outright
  129  or in trust, only if other assets of the decedent fulfilling
  130  such a requirement for the benefit of the former spouse or
  131  children of the marriage do not exist upon the death of the
  132  decedent;
  133         (e) If, under the terms of the order of dissolution or
  134  order declaring the marriage invalid, the decedent could not
  135  have unilaterally terminated or modified the ownership of the
  136  asset, or its disposition upon the death of the decedent;
  137         (f) If the designation of the decedent’s former spouse as a
  138  beneficiary is irrevocable under applicable law;
  139         (g) If the governing instrument directing the disposition
  140  of the asset at death is governed by the laws of a state other
  141  than this state;
  142         (h) To an asset held in two or more names as to which the
  143  death of one coowner vests ownership of the asset in the
  144  surviving coowner or coowners;
  145         (i) If the decedent remarries the person whose interest
  146  would otherwise have been revoked under this section and the
  147  decedent and that person are married to one another at the time
  148  of the decedent’s death; or
  149         (j) To state-administered retirement plans under chapter
  150  121.
  151         Section 7. Section 732.806, Florida Statutes, is created to
  152  read:
  153         732.806Gifts to lawyers and other disqualified persons.—
  154         (1) Any part of a written instrument which makes a gift to
  155  a lawyer or a person related to the lawyer is void if the lawyer
  156  prepared or supervised the execution of the written instrument,
  157  or solicited the gift, unless the lawyer or other recipient of
  158  the gift is related to the person making the gift.
  159         (2) This section is not applicable to a provision in a
  160  written instrument appointing a lawyer, or a person related to
  161  the lawyer, as a fiduciary.
  162         (3) A provision in a written instrument purporting to waive
  163  the application of this section is unenforceable.
  164         (4) If property distributed in kind, or a security interest
  165  in that property, is acquired by a purchaser or lender for value
  166  from a person who has received a gift in violation of this
  167  section, the purchaser or lender takes title free of any claims
  168  arising under this section and incurs no personal liability by
  169  reason of this section, whether or not the gift is void under
  170  this section.
  171         (5) In all actions brought under this section, the court
  172  must award taxable costs as in chancery actions, including
  173  attorney fees. When awarding taxable costs and attorney fees
  174  under this section, the court may direct payment from a party’s
  175  interest in the estate or trust, or enter a judgment that may be
  176  satisfied from other property of the party, or both. Attorney
  177  fees and costs may not be awarded against a party who, in good
  178  faith, initiates an action under this section to declare a gift
  179  void.
  180         (6) If a part of a written instrument is invalid by reason
  181  of this section, the invalid part is severable and may not
  182  affect any other part of the written instrument which can be
  183  given effect, including a term that makes an alternate or
  184  substitute gift. In the case of a power of appointment, this
  185  section does not affect the power to appoint in favor of persons
  186  other than the lawyer or a person related to the lawyer.
  187         (7) For purposes of this section:
  188         (a) A lawyer is deemed to have prepared, or supervised the
  189  execution of, a written instrument if the preparation, or
  190  supervision of the execution, of the written instrument was
  191  performed by an employee or lawyer employed by the same firm as
  192  the lawyer.
  193         (b) A person is “related” to an individual if, at the time
  194  the lawyer prepared or supervised the execution of the written
  195  instrument or solicited the gift, the person is:
  196         1. A spouse of the individual;
  197         2. A lineal ascendant or descendant of the individual;
  198         3. A sibling of the individual;
  199         4. A relative of the individual or of the individual’s
  200  spouse with whom the lawyer maintains a close, familial
  201  relationship;
  202         5. A spouse of a person described in subparagraph 2.,
  203  subparagraph 3., or subparagraph 4.; or
  204         6. A person who cohabitates with the individual.
  205         (c) The term “written instrument” includes, but is not
  206  limited to, a will, a trust, a deed, a document exercising a
  207  power of appointment, or a beneficiary designation under a life
  208  insurance contract or any other contractual arrangement that
  209  creates an ownership interest or permits the naming of a
  210  beneficiary.
  211         (d) The term “gift” includes an inter vivos gift, a
  212  testamentary transfer of real or personal property or any
  213  interest therein, and the power to make such a transfer
  214  regardless of whether the gift is outright or in trust;
  215  regardless of when the transfer is to take effect; and
  216  regardless of whether the power is held in a fiduciary or
  217  nonfiduciary capacity.
  218         (8) The rights and remedies granted in this section are in
  219  addition to any other rights or remedies a person may have at
  220  law or in equity.
  221         Section 8. Section 732.901, Florida Statutes, is amended to
  222  read:
  223         732.901 Production of wills.—
  224         (1) The custodian of a will must deposit the will with the
  225  clerk of the court having venue of the estate of the decedent
  226  within 10 days after receiving information that the testator is
  227  dead. The custodian must supply the testator’s date of death or
  228  the last four digits of the testator’s social security number to
  229  the clerk upon deposit.
  230         (2) Upon petition and notice, the custodian of any will may
  231  be compelled to produce and deposit the will as provided in
  232  subsection (1). All costs, damages, and a reasonable attorney’s
  233  fee shall be adjudged to petitioner against the delinquent
  234  custodian if the court finds that the custodian had no just or
  235  reasonable cause for failing to deposit the will.
  236         (3) An original will submitted to the clerk with a petition
  237  or other pleading is deemed to have been deposited with the
  238  clerk.
  239         (4) Upon receipt, the clerk shall retain and preserve the
  240  original will in its original form for at least 20 years. If the
  241  probate of a will is initiated, the original will may be
  242  maintained by the clerk with the other pleadings during the
  243  pendency of the proceedings, but the will must at all times be
  244  retained in its original form for the remainder of the 20-year
  245  period whether or not the will is admitted to probate or the
  246  proceedings are terminated. Transforming and storing a will on
  247  film, microfilm, magnetic, electronic, optical, or other
  248  substitute media or recording a will onto an electronic record
  249  keeping system, whether or not in accordance with the standards
  250  adopted by the Supreme Court of Florida, or permanently
  251  recording a will does not eliminate the requirement to preserve
  252  the original will.
  253         (5) For purposes of this section, the term “will” includes
  254  a separate writing as described in s. 732.515.
  255         Section 9. Present subsections (6) through (11) of section
  256  736.0103, Florida Statutes, are redesignated as subsections (7)
  257  through (12), respectively, present subsections (12) through
  258  (21) of that section are redesignated as subsections (14)
  259  through (23), respectively, and new subsections (6) and (13) are
  260  added to that section, to read:
  261         736.0103 Definitions.—Unless the context otherwise
  262  requires, in this code:
  263         (6) “Distributee” means a beneficiary who is currently
  264  entitled to receive a distribution.
  265         (13) “Permissible distributee” means a beneficiary who is
  266  currently eligible to receive a distribution.
  267         Section 10. Section 736.0202, Florida Statutes, is amended
  268  to read:
  269         736.0202 Jurisdiction over trustee and beneficiary.—
  270         (1) IN REM JURISDICTION.—Any beneficiary By accepting the
  271  trusteeship of a trust having its principal place of
  272  administration in this state is subject or by moving the
  273  principal place of administration to this state, the trustee
  274  submits personally to the jurisdiction of the courts of this
  275  state to the extent of the beneficiary’s interest in regarding
  276  any matter involving the trust.
  277         (2) PERSONAL JURISDICTION.—
  278         (a) Any trustee, trust beneficiary, or other person,
  279  whether or not a citizen or resident of this state, who
  280  personally or through an agent does any of the following acts
  281  related to a trust, submits to the jurisdiction of the courts of
  282  this state involving that trust: With respect to their interests
  283  in the trust, the beneficiaries of a trust having its principal
  284  place of administration in this state are subject to the
  285  jurisdiction of the courts of this state regarding any matter
  286  involving the trust. By accepting a distribution from such a
  287  trust, the recipient submits personally to the jurisdiction of
  288  the courts of this state regarding any matter involving the
  289  distribution.
  290         1. Accepts trusteeship of a trust having its principal
  291  place of administration in this state at the time of acceptance.
  292         2. Moves the principal place of administration of a trust
  293  to this state.
  294         3. Serves as trustee of a trust created by a settlor who
  295  was a resident of this state at the time of creation of the
  296  trust or serves as trustee of a trust having its principal place
  297  of administration in this state.
  298         4. Accepts or exercises a delegation of powers or duties
  299  from the trustee of a trust having its principal place of
  300  administration in this state.
  301         5. Commits a breach of trust in this state, or commits a
  302  breach of trust with respect to a trust having its principal
  303  place of administration in this state at the time of the breach.
  304         6. Accepts compensation from a trust having its principal
  305  place of administration in this state.
  306         7. Performs any act or service for a trust having its
  307  principal place of administration in this state.
  308         8. Accepts a distribution from a trust having its principal
  309  place of administration in this state with respect to any matter
  310  involving the distribution.
  311         (b) A court of this state may exercise personal
  312  jurisdiction over a trustee, trust beneficiary, or other person,
  313  whether found within or outside the state, to the maximum extent
  314  permitted by the State Constitution or the Federal Constitution.
  315         (3) This section does not preclude other methods of
  316  obtaining jurisdiction over a trustee, beneficiary, or other
  317  person receiving property from the trust.
  318         Section 11. Section 736.02025, Florida Statutes, is created
  319  to read:
  320         736.02025Service of process.—
  321         (1) Except as otherwise provided in this section, service
  322  of process upon any person may be made as provided in chapter
  323  48.
  324         (2) Where only in rem or quasi in rem relief is sought
  325  against a person in a matter involving a trust, service of
  326  process on that person may be made by sending a copy of the
  327  summons and complaint by any commercial delivery service
  328  requiring a signed receipt or by any form of mail requiring a
  329  signed receipt. Service under this subsection shall be complete
  330  upon signing of a receipt by the addressee or by any person
  331  authorized to receive service of a summons on behalf of the
  332  addressee as provided in chapter 48. Proof of service shall be
  333  by verified statement of the person serving the summons, to
  334  which must be attached the signed receipt or other evidence
  335  satisfactory to the court that delivery was made to the
  336  addressee or other authorized person.
  337         (3) Under any of the following circumstances, service of
  338  original process pursuant to subsection (2) may be made by
  339  first-class mail:
  340         (a) If registered or certified mail service to the
  341  addressee is unavailable and if delivery by commercial delivery
  342  service is also unavailable.
  343         (b) If delivery is attempted and is refused by the
  344  addressee.
  345         (c) If delivery by mail requiring a signed receipt is
  346  unclaimed after notice to the addressee by the delivering
  347  entity.
  348         (4) If service of process is obtained under subsection (3),
  349  proof of service shall be made by verified statement of the
  350  person serving the summons. The verified statement must state
  351  the basis for service by first-class mail, the date of mailing,
  352  and the address to which the mail was sent.
  353         Section 12. Section 736.0205, Florida Statutes, is
  354  repealed.
  355         Section 13. Subsection (4) of section 736.0807, Florida
  356  Statutes, is repealed.
  357         Section 14. Paragraph (d) of subsection (1) of section
  358  736.0813, Florida Statutes, is amended to read:
  359         736.0813 Duty to inform and account.—The trustee shall keep
  360  the qualified beneficiaries of the trust reasonably informed of
  361  the trust and its administration.
  362         (1) The trustee’s duty to inform and account includes, but
  363  is not limited to, the following:
  364         (d) A trustee of an irrevocable trust shall provide a trust
  365  accounting, as set forth in s. 736.08135, from the date of the
  366  last accounting or, if none, from the date on which the trustee
  367  became accountable, to each qualified beneficiary at least
  368  annually and on termination of the trust or on change of the
  369  trustee.
  370  
  371  Paragraphs (a) and (b) do not apply to an irrevocable trust
  372  created before the effective date of this code, or to a
  373  revocable trust that becomes irrevocable before the effective
  374  date of this code. Paragraph (a) does not apply to a trustee who
  375  accepts a trusteeship before the effective date of this code.
  376         Section 15. Subsection (2) of section 607.0802, Florida
  377  Statutes, is amended to read:
  378         607.0802 Qualifications of directors.—
  379         (2) In the event that the eligibility to serve as a member
  380  of the board of directors of a condominium association,
  381  cooperative association, homeowners’ association, or mobile home
  382  owners’ association is restricted to membership in such
  383  association and membership is appurtenant to ownership of a
  384  unit, parcel, or mobile home, a grantor of a trust described in
  385  s. 733.707(3), or a qualified beneficiary as defined in s.
  386  736.0103(14) of a trust which owns a unit, parcel, or mobile
  387  home shall be deemed a member of the association and eligible to
  388  serve as a director of the condominium association, cooperative
  389  association, homeowners’ association, or mobile home owners’
  390  association, provided that said beneficiary occupies the unit,
  391  parcel, or mobile home.
  392         Section 16. Subsections (2) and (11) of section 731.201,
  393  Florida Statutes, are amended to read:
  394         731.201 General definitions.—Subject to additional
  395  definitions in subsequent chapters that are applicable to
  396  specific chapters or parts, and unless the context otherwise
  397  requires, in this code, in s. 409.9101, and in chapters 736,
  398  738, 739, and 744, the term:
  399         (2) “Beneficiary” means heir at law in an intestate estate
  400  and devisee in a testate estate. The term “beneficiary” does not
  401  apply to an heir at law or a devisee after that person’s
  402  interest in the estate has been satisfied. In the case of a
  403  devise to an existing trust or trustee, or to a trust or trustee
  404  described by will, the trustee is a beneficiary of the estate.
  405  Except as otherwise provided in this subsection, the beneficiary
  406  of the trust is not a beneficiary of the estate of which that
  407  trust or the trustee of that trust is a beneficiary. However, if
  408  each trustee is also a personal representative of the estate,
  409  each qualified beneficiary of the trust as defined in s.
  410  736.0103(14) shall be regarded as a beneficiary of the estate.
  411         (11) “Devisee” means a person designated in a will or trust
  412  to receive a devise. Except as otherwise provided in this
  413  subsection, in the case of a devise to an existing trust or
  414  trustee, or to a trust or trustee of a trust described by will,
  415  the trust or trustee, rather than the beneficiaries of the
  416  trust, is the devisee. However, if each trustee is also a
  417  personal representative of the estate, each qualified
  418  beneficiary of the trust as defined in s. 736.0103(14) shall be
  419  regarded as a devisee.
  420         Section 17. Subsection (1) of section 733.212, Florida
  421  Statutes, is amended to read:
  422         733.212 Notice of administration; filing of objections.—
  423         (1) The personal representative shall promptly serve a copy
  424  of the notice of administration on the following persons who are
  425  known to the personal representative:
  426         (a) The decedent’s surviving spouse;
  427         (b) Beneficiaries;
  428         (c) The trustee of any trust described in s. 733.707(3) and
  429  each qualified beneficiary of the trust as defined in s.
  430  736.0103(14), if each trustee is also a personal representative
  431  of the estate; and
  432         (d) Persons who may be entitled to exempt property
  433  
  434  in the manner provided for service of formal notice, unless
  435  served under s. 733.2123. The personal representative may
  436  similarly serve a copy of the notice on any devisees under a
  437  known prior will or heirs or others who claim or may claim an
  438  interest in the estate.
  439         Section 18. Paragraph (f) of subsection (5) of section
  440  736.0802, Florida Statutes, is amended to read:
  441         736.0802 Duty of loyalty.—
  442         (5)
  443         (f)1. The trustee of a trust as defined in s. 731.201 may
  444  request authority to invest in investment instruments described
  445  in this subsection other than a qualified investment instrument,
  446  by providing to all qualified beneficiaries a written request
  447  containing the following:
  448         a. The name, telephone number, street address, and mailing
  449  address of the trustee and of any individuals who may be
  450  contacted for further information.
  451         b. A statement that the investment or investments cannot be
  452  made without the consent of a majority of each class of the
  453  qualified beneficiaries.
  454         c. A statement that, if a majority of each class of
  455  qualified beneficiaries consent, the trustee will have the right
  456  to make investments in investment instruments, as defined in s.
  457  660.25(6), which are owned or controlled by the trustee or its
  458  affiliate, or from which the trustee or its affiliate receives
  459  compensation for providing services in a capacity other than as
  460  trustee, that such investment instruments may include investment
  461  instruments sold primarily to trust accounts, and that the
  462  trustee or its affiliate may receive fees in addition to the
  463  trustee’s compensation for administering the trust.
  464         d. A statement that the consent may be withdrawn
  465  prospectively at any time by written notice given by a majority
  466  of any class of the qualified beneficiaries.
  467  
  468  A statement by the trustee is not delivered if the statement is
  469  accompanied by another written communication other than a
  470  written communication by the trustee that refers only to the
  471  statement.
  472         2. For purposes of paragraph (e) and this paragraph:
  473         a. “Majority of the qualified beneficiaries” means:
  474         (I) If at the time the determination is made there are one
  475  or more beneficiaries as described in s. 736.0103(16)(c)
  476  736.0103(14)(c), at least a majority in interest of the
  477  beneficiaries described in s. 736.0103(16)(a) 736.0103(14)(a),
  478  at least a majority in interest of the beneficiaries described
  479  in s. 736.0103(16)(b) 736.0103(14)(b), and at least a majority
  480  in interest of the beneficiaries described in s. 736.0103(16)(c)
  481  736.0103(14)(c), if the interests of the beneficiaries are
  482  reasonably ascertainable; otherwise, a majority in number of
  483  each such class; or
  484         (II) If there is no beneficiary as described in s.
  485  736.0103(16)(c) 736.0103(14)(c), at least a majority in interest
  486  of the beneficiaries described in s. 736.0103(16)(a)
  487  736.0103(14)(a) and at least a majority in interest of the
  488  beneficiaries described in s. 736.0103(16)(b) 736.0103(14)(b),
  489  if the interests of the beneficiaries are reasonably
  490  ascertainable; otherwise, a majority in number of each such
  491  class.
  492         b. “Qualified investment instrument” means a mutual fund,
  493  common trust fund, or money market fund described in and
  494  governed by s. 736.0816(3).
  495         c. An irrevocable trust is created upon execution of the
  496  trust instrument. If a trust that was revocable when created
  497  thereafter becomes irrevocable, the irrevocable trust is created
  498  when the right of revocation terminates.
  499         Section 19. Paragraph (a) of subsection (2) of section
  500  736.08125, Florida Statutes, is amended to read:
  501         736.08125 Protection of successor trustees.—
  502         (2) For the purposes of this section, the term:
  503         (a) “Eligible beneficiaries” means:
  504         1. At the time the determination is made, if there are one
  505  or more beneficiaries as described in s. 736.0103(16)(c)
  506  736.0103(14)(c), the beneficiaries described in s.
  507  736.0103(16)(a) 736.0103(14)(a) and (c); or
  508         2. If there is no beneficiary as described in s.
  509  736.0103(16)(c) 736.0103(14)(c), the beneficiaries described in
  510  s. 736.0103(16)(a) 736.0103(14)(a) and (b).
  511         Section 20. Paragraph (d) of subsection (9) of section
  512  738.104, Florida Statutes, is amended to read:
  513         738.104 Trustee’s power to adjust.—
  514         (9)
  515         (d) For purposes of subsection (8) and this subsection, the
  516  term:
  517         1. “Eligible beneficiaries” means:
  518         a. If at the time the determination is made there are one
  519  or more beneficiaries described in s. 736.0103(16)(c)
  520  736.0103(14)(c), the beneficiaries described in s.
  521  736.0103(16)(a) 736.0103(14)(a) and (c); or
  522         b. If there is no beneficiary described in s.
  523  736.0103(16)(c) 736.0103(14)(c), the beneficiaries described in
  524  s. 736.0103(16)(a) 736.0103(14)(a) and (b).
  525         2. “Super majority of the eligible beneficiaries” means:
  526         a. If at the time the determination is made there are one
  527  or more beneficiaries described in s. 736.0103(16)(c)
  528  736.0103(14)(c), at least two-thirds in interest of the
  529  beneficiaries described in s. 736.0103(16)(a) 736.0103(14)(a) or
  530  two-thirds in interest of the beneficiaries described in s.
  531  736.0103(16)(c) 736.0103(14)(c), if the interests of the
  532  beneficiaries are reasonably ascertainable; otherwise, it means
  533  two-thirds in number of either such class; or
  534         b. If there is no beneficiary described in s.
  535  736.0103(16)(c) 736.0103(14)(c), at least two-thirds in interest
  536  of the beneficiaries described in s. 736.0103(16)(a)
  537  736.0103(14)(a) or two-thirds in interest of the beneficiaries
  538  described in s. 736.0103(16)(b) 736.0103(14)(b), if the
  539  interests of the beneficiaries are reasonably ascertainable,
  540  otherwise, two-thirds in number of either such class.
  541         Section 21. This act shall take effect October 1, 2013.