Florida Statutes 736.0603 – Settlor’s powers; powers of withdrawal
Current as of: 2023 | Check for updates
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Terms Used In Florida Statutes 736.0603
- Revocable trust: A trust agreement that can be canceled, rescinded, revoked, or repealed by the grantor (person who establishes the trust).
- Trustee: A person or institution holding and administering property in trust.
(1) While a trust is revocable, the duties of the trustee are owed exclusively to the settlor.
(2) During the period the power may be exercised, the holder of a power of withdrawal has the rights of a settlor of a revocable trust under this section to the extent of the property subject to the power.