Florida Senate - 2016                        COMMITTEE AMENDMENT
       Bill No. SB 540
                              LEGISLATIVE ACTION                        
                    Senate             .             House              
                  Comm: RCS            .                                
                  11/17/2015           .                                

       The Committee on Judiciary (Bean) recommended the following:
    1         Senate Amendment (with title amendment)
    3         Delete lines 47 - 96
    4  and insert:
    5         Section 1. Section 731.1055, Florida Statutes, is created
    6  to read:
    7         731.1055 Disposition of real property.-The validity and
    8  effect of a disposition, whether intestate or testate, of real
    9  property in this state shall be determined by Florida law.
   10         Section 2. Subsection (2) of section 731.106, Florida
   11  Statutes, is amended to read:
   12         731.106 Assets of nondomiciliaries.—
   13         (2) When a nonresident decedent, whether or not a citizen
   14  of the United States, provides by will that the testamentary
   15  disposition of tangible or intangible personal property having a
   16  situs within this state, or of real property in this state,
   17  shall be construed and regulated by the laws of this state, the
   18  validity and effect of the dispositions shall be determined by
   19  Florida law. The court may, and in the case of a decedent who
   20  was at the time of death a resident of a foreign country the
   21  court shall, direct the personal representative appointed in
   22  this state to make distribution directly to those designated by
   23  the decedent’s will as beneficiaries of the tangible or
   24  intangible property or to the persons entitled to receive the
   25  decedent’s personal estate under the laws of the decedent’s
   26  domicile.
   27         Section 3. Paragraph (k) of subsection (2) of section
   28  736.0105, Florida Statutes, is amended to read:
   29         736.0105 Default and mandatory rules.—
   30         (2) The terms of a trust prevail over any provision of this
   31  code except:
   32         (k) The ability to modify a trust under s. 736.0412, except
   33  as provided in s. 736.0412(4)(b) or (c).
   34         Section 3. Section 736.0412, Florida Statutes, is amended
   35  to read:
   36         736.0412 Nonjudicial modification of irrevocable trust.—
   37         (1) After the settlor’s death, a trust may be modified at
   38  any time as provided in s. 736.04113(2) upon the unanimous
   39  agreement of the trustee and all qualified beneficiaries.
   40         (2) Modification of a trust as authorized in this section
   41  is not prohibited by a spendthrift clause or by a provision in
   42  the trust instrument that prohibits amendment or revocation of
   43  the trust.
   44         (3) An agreement to modify a trust under this section is
   45  binding on a beneficiary whose interest is represented by
   46  another person under part III of this code.
   47         (4) This section does shall not apply to any trust:
   48         (a) Any trust Created prior to January 1, 2001.
   49         (b) Any trust Created after December 31, 2000, and before
   50  July 1, 2016, if, under the terms of the trust, all beneficial
   51  interests in the trust must vest or terminate within the period
   52  prescribed by the rule against perpetuities in s. 689.225(2),
   53  notwithstanding s. 689.225(2)(f), unless the terms of the trust
   54  expressly authorize nonjudicial modification.
   55         (c) Created on or after July 1, 2016, during the first 90
   56  years after it is created, unless the terms of the trust
   57  expressly authorize nonjudicial modification.
   59  ================= T I T L E  A M E N D M E N T ================
   60  And the title is amended as follows:
   61         Delete lines 2 - 6
   62  and insert:
   63         An act relating to estates; creating s. 731.1055,
   64         F.S.; providing that the validity and the effect of a
   65         specified disposition of real property be determined
   66         by Florida law; amending ss. 731.106 and 736.0105,
   67         F.S.; conforming provisions to changes made by the
   68         act, amending s.