736.0417 Combination and division of trusts.—
(1) After notice to the qualified beneficiaries, a trustee may combine two or more trusts into a single trust or divide a trust into two or more separate trusts, if the result does not impair rights of any beneficiary or adversely affect achievement of the purposes of the trusts or trust, respectively.
(2) Subject to the terms of the trust, the trustee may take into consideration differences in federal tax attributes and other pertinent factors in administering the trust property of any separate account or trust, in making applicable tax elections, and in making distributions. A separate trust created by severance must be treated as a separate trust for all purposes from the date on which the severance is effective. The effective date of the severance may be retroactive to a date before the date on which the trustee exercises such power.
History.—s. 4, ch. 2006-217.
Section: Previous 736.0407 736.0408 736.0409 736.0410 736.04113 736.04114 736.04115 736.04117 736.0412 736.0413 736.0414 736.0415 736.0416 736.0417Last modified: September 23, 2016