Florida Senate - 2017                                    SB 1706
       
       
        
       By Senator Campbell
       
       
       
       
       
       38-01225-17                                           20171706__
    1                        A bill to be entitled                      
    2         An act relating to estates; creating s. 732.112, F.S.;
    3         providing that any contractual arrangement of a
    4         decedent, including specified policies, pensions, or
    5         other entitlements, which does not name the decedent’s
    6         dependent descendants as beneficiaries is void;
    7         requiring a decedent’s ownership interest in such
    8         arrangements to be held in trust for the benefit of
    9         his or her dependent descendants; providing an
   10         exception; providing legislative findings; providing
   11         an effective date.
   12          
   13  Be It Enacted by the Legislature of the State of Florida:
   14  
   15         Section 1. Section 732.112, Florida Statutes, is created to
   16  read:
   17         732.112 Dependent descendants.—Notwithstanding any
   18  provision of this chapter, any contractual arrangement of a
   19  decedent, including an insurance or annuity policy, pension, or
   20  other entitlement, which does not name the decedent’s dependent
   21  descendants as beneficiaries is void. The decedent’s ownership
   22  interest in such arrangements shall be per stirpes and each
   23  dependent descendant’s portion held in trust until he or she is
   24  18 years of age. However, a dependent descendant’s guardian may
   25  use funds necessary from the trust for the support of the
   26  descendant before the descendant reaches 18 years of age. The
   27  Legislature finds that it is the public policy of this state to
   28  protect dependent descendants by strongly guarding such
   29  dependent’s financial well-being.
   30         Section 2. This act shall take effect July 1, 2017.