{"data":{"id":"us-fl/fla.-stat.-738.302","jurisdiction":"us-fl","citation":"Fla. Stat. § 738.302","heading":"Applications; duties and remedies.","body":"(1) Except as otherwise provided in subsection (2), ss. 738.301-738.310 apply to all of the following:\n(a) An income trust, unless the terms of the trust expressly prohibit the use of ss. 738.301-738.310 by a specific reference to this paragraph or corresponding provision of prior law, or an explicit expression of intent that net income not be calculated as a unitrust amount.\n(b) An express unitrust, except to the extent that the terms of the trust explicitly:\n1. Prohibit the use of ss. 738.301-738.310 by a specific reference to this paragraph or corresponding provision of prior law;\n2. Prohibit conversion to an income trust; or\n3. Limit changes to the method of calculating the unitrust amount.\n(c) A unitrust that had been converted from an income trust.\n(2) The provisions of ss. 738.301-738.310 do not apply to a trust described in s. 170(f)(2)(B), s. 642(c)(5), s. 664(d), s. 2702(a)(3)(A)(ii) or (iii), or s. 2702(b) of the Internal Revenue Code.\n(3) An income trust to which ss. 738.301-738.310 apply under paragraph (1)(a) may be converted to a unitrust under ss. 738.301-738.310 regardless of the terms of the trust concerning distributions. Conversion to a unitrust under ss. 738.301-738.310 does not affect other terms of the trust concerning distributions of income or principal.\n(4) Sections 738.301-738.310 apply to an estate only to the extent that a trust is a beneficiary of the estate. To the extent of the trust’s interest in the estate, the estate may be administered as a unitrust, the administration of the estate as a unitrust may be discontinued, or the percentage or method used to calculate the unitrust amount may be changed, in the same manner as for a trust under those sections.\n(5) The provisions of ss. 738.301-738.310 do not create a duty to take or consider action under ss. 738.301-738.310 or to inform a beneficiary about the applicability of ss. 738.301-738.310.\n(6) A fiduciary that in good faith takes or fails to take an action under ss. 738.301-738.310 is not liable to a person affected by the action or inaction.\nHistory.—s. 1, ch. 2002-42; s. 10, ch. 2012-49; s. 11, ch. 2024-216.","path":["CHAPTER 738 UNIFORM FIDUCIARY INCOME AND PRINCIPAL ACT"],"source_url":"https://www.leg.state.fl.us/statutes/index.cfm?App_mode=Display_Statute\u0026URL=0700-0799/0738/0738.html","current_through":"2026 Florida Statutes","vintage":"","retrieved_at":"2026-08-27T02:13:31Z","sha256":"8f5f2a12df7b09e0c827f83cd1755ae78e6f43a1113606bccc99fb085488c862","source_id":"us-fl","stale":false,"prev":"us-fl/fla.-stat.-738.301","next":"us-fl/fla.-stat.-738.303"},"notice":"GroundRules: Original legal text. Not legal advice."}