Florida Statutes 736.1512 – Unenforceable trusts
Current as of: 2023 | Check for updates
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(1) A community property trust executed during marriage is not enforceable if the spouse against whom enforcement is sought proves that:
(a) The trust was unconscionable when made;
Terms Used In Florida Statutes 736.1512
- Community property: means the property and the appreciation of and income from the property owned by a qualified trustee of a community property trust during the marriage of the settlor spouses. See Florida Statutes 736.1502
- Community property trust: means an express trust that complies with…. See Florida Statutes 736.1502
- During marriage: means a period that begins at marriage and ends upon the dissolution of marriage or upon the death of a spouse. See Florida Statutes 736.1502
- Fraud: Intentional deception resulting in injury to another.
- Settlor spouses: means a married couple who establishes a community property trust pursuant to this part. See Florida Statutes 736.1502
(b) The spouse against whom enforcement is sought did not execute the community property trust agreement voluntarily;
(c) The community property trust agreement was the product of fraud, duress, coercion, or overreaching; or
(d) Before execution of the community property trust agreement, the spouse against whom enforcement is sought:
1. Was not given a fair and reasonable disclosure of the property and financial obligations of the other spouse.
2. Did not voluntarily sign a written waiver expressly waiving right to disclosure of the property and financial obligations of the other spouse beyond the disclosure provided.
3. Did not have notice of the property or financial obligations of the other spouse.
(2) Whether a community property trust is unconscionable shall be determined by a court as a matter of law.
(3) A community property trust may not be deemed unenforceable solely on the fact that the settlor spouses did not have separate legal representation when executing the community property trust agreement.