(1) If a particular charitable purpose becomes unlawful, impracticable, impossible to achieve, or wasteful, the court may apply the doctrine of cy pres to modify or terminate the trust by directing that the trust property be applied or distributed, in whole or in part, in a manner consistent with the settlor’s charitable purposes.
(2) A proceeding to modify or terminate a trust under this section may be commenced by a settlor, a trustee, or any qualified beneficiary.
History.—s. 4, ch. 2006-217.
Structure Florida Statutes
Title XLII - Estates and Trusts
Chapter 736 - Florida Trust Code
Part IV - Creation, Validity, Modification, and Termination (Ss. 736.0401-736.0417)
736.0401 - Methods of creating trust.
736.0402 - Requirements for creation.
736.0403 - Trusts created in other jurisdictions; formalities required for revocable trusts.
736.0405 - Charitable purposes; enforcement.
736.0406 - Effect of fraud, duress, mistake, or undue influence.
736.0407 - Evidence of oral trust.
736.0408 - Trust for care of an animal.
736.0409 - Noncharitable trust without ascertainable beneficiary.
736.0410 - Modification or termination of trust; proceedings for disapproval of nonjudicial acts.
736.04114 - Limited judicial construction of irrevocable trust with federal tax provisions.
736.04117 - Trustee’s power to invade principal in trust.
736.0412 - Nonjudicial modification of irrevocable trust.
736.0414 - Modification or termination of uneconomic trust.
736.0415 - Reformation to correct mistakes.
736.0416 - Modification to achieve settlor’s tax objectives.