Finseca (AALU) – Florida jumps into the deep end with major trust legislation

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The Florida Community Property Trust Act (Florida Statutes Section 736.1501 et. seq.) and the Florida Uniform Directed Trust Act (Florida Statutes Section 736.1401 et. seq.), which became effective on July 1, 2021, enable spouses to create a Community Property Trust….  As a result, for those practitioners who regularly advise clients who are thinking of moving to Florida, these Acts will increase the allure of Florida as both a domicile and trust situs, particularly for those with an interest in wealth transfer planning.

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