(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 s. 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.
‹ Prev All Florida sections Next ›
Lexace provides legal information, not legal advice, and no attorney–client relationship is created. Statute text is provided for general information and may not reflect the most recent amendments; verify against the official state code.