Fla. Stat. § 738.308

Current through the 2024 Legislative Session

Section 738.308 - [Effective 1/1/2025] Period

(1) A unitrust policy must provide the period used under ss. 738.306 and 738.307. The period must be the calendar year.

(2) A unitrust policy may provide standards for:

(a) Using fewer preceding periods under s. 738.306(1)(b)1. or (2)(a) or (b) if:

1. The trust was not in existence in a preceding period; or

2. Market indices or other published data are not available for a preceding period;

(b) Using fewer preceding periods under 738.307(2)(e) if:

1. The trust was not in existence in a preceding period; or

2. Fair market values are not available for a preceding period; and

(c) Prorating a unitrust amount on a daily basis for a part of a period in which the trust or the administration of the trust as a unitrust or the interest of any beneficiary commences or terminates.

Fla. Stat. § 738.308

Added by 2024 Fla. Laws, ch. 216,s 17, eff. 1/1/2025.