The Florida Family Trust Company Act Gets a Makeover
Making its way through Florida’s House of Representatives is HB 825, along with its companion bill in the Florida Senate, SB 568. This bill is informally known in Florida Bar circles as the Family Trust Company Act “glitch bill.” The glitch bill fixes a number of issues in the original FTC bill enacted June, 2014.
The glitch bill has been anticipated since before that enactment, and that expectation was the main reason for the Act’s October 1, 2015 effective date (more on this below). The following is a summary of key provisions of the glitch bill, which if enacted, would simply become part of the Florida Family Trust Company Act in its entirety.
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