(1) This part applies to a trust subject to this chapter, whenever created, that has its principal place of administration in the state, subject to the following rules:
(a) If the trust was created before July 1, 2021, this part applies only to a decision or action occurring on or after July 1, 2021.
(b) If the principal place of administration of the trust is changed to the state on or after July 1, 2021, this part applies only to a decision or action occurring on or after the date of the change.
(2) In addition to s. 736.0108, relating to a trust’s principal place of administration, in a directed trust, terms of the trust that designate the principal place of administration of the trust in the state are valid and controlling if a trust director’s principal place of business is located in or a trust director is a resident of the state.
History.—s. 15, ch. 2021-183.