1IF YOU FAIL TO OBJECT WITHIN 30 DAYS, YOU WILL HAVE
2CONSENTED TO THE TRANSFER OF PROPERTY INTO THIS TRUST.

SB667-SSA1,6,33 .... (address)

SB667-SSA1,6,54 2. The notice shall contain a description of the property that is the subject of
5the qualified disposition.

SB667-SSA1,6,86 3. The notice may require that any person who is eligible to receive information
7under this subsection be bound by the duty of confidentiality that binds the trustee
8before receiving such information from the trustee.

SB667-SSA1,6,109 4. The notice shall be provided by the transferor, the transferor's agent, the
10trustee, or another fiduciary of the legacy trust.

SB667-SSA1,6,1511 (c) If a notice is provided under this subsection before the qualified disposition,
12the period to commence an action under s. 701.1306 (3) begins to run on the date the
13notice is provided. The period to commence an action to challenge a qualified
14disposition under this subsection and s. 701.1306 (3) may not exceed the period set
15forth in s. 893.425.

SB667-SSA1,6,19 16701.1303 Spendthrift provision; legacy trust. (1) Notwithstanding s.
17701.0502 (1), a spendthrift provision of a legacy trust is not invalid because a
18transferor or a person who is treated as a settlor under s. 701.0505 (2) is also a
19beneficiary of the legacy trust.

SB667-SSA1,7,2 20(2) Except as otherwise provided in this section, a spendthrift provision in a
21legacy trust restrains both voluntary and involuntary transfers of a transferor's
22interest in the legacy trust. A spendthrift provision in a legacy trust is enforceable
23under any applicable nonbankruptcy law within the meaning of 11 USC 541 (c) (2)
24regardless of whether the legacy trust instrument makes any reference to that
25enforceability. The terms of a legacy trust, including in a spendthrift provision, may

1provide for any other restraint of alienation that are permitted under the laws of this
2state.

SB667-SSA1,7,4 3(3) Section 701.0503 (2) does not apply to a spendthrift provision in a legacy
4trust.

SB667-SSA1,7,5 5(4) Section 701.0505 (1) (a) 2. does not apply to a legacy trust.

SB667-SSA1,7,8 6(5) Nothing in this section may deprive a beneficiary of any exemption right
7that the beneficiary has under any applicable law after the trust property is received
8by the beneficiary.

SB667-SSA1,7,12 9701.1304 Implied power to revoke or to transfer an interest in a legacy
10trust. None of the following is considered to be, including in combination, a power
11to revoke a legacy trust or to voluntarily or involuntarily transfer an interest in the
12legacy trust:

SB667-SSA1,7,14 13(1) A transferor's power to veto a distribution of income or principal from the
14legacy trust.

SB667-SSA1,7,17 15(2) A special power of appointment, as defined in s. 702.02 (7), exercisable by
16a transferor by will or another written document that is effective during the lifetime
17of the transferor or upon the death of the transferor.

SB667-SSA1,7,19 18(3) The right of a transferor to receive income from the legacy trust in
19accordance with the terms of the legacy trust.

SB667-SSA1,7,25 20(4) That a transferor is a beneficiary of the legacy trust regardless of whether
21the trust qualifies as a charitable remainder annuity trust under 26 USC 664 (d) (1)
22or as a charitable remainder unitrust under 26 USC 664 (d) (2), even if the transferor
23has the right to release the transferor's retained interest, in whole or in part, in the
24charitable remainder annuity trust or charitable remainder unitrust at any time in
25favor of one or more of the remainder beneficiaries of the legacy trust.

SB667-SSA1,8,6

1(5) A transferor's annual receipt of a percentage of the value of the legacy trust
2assets, as determined in accordance with the terms of the trust, as long as the amount
3the transferor receives in a year is not more than the amount defined as the income
4of the legacy trust under 26 USC 643 (b) or, for any qualified retirement plan or
5eligible deferred compensation plan that is an asset of the legacy trust, the minimum
6required distribution, as defined in 26 USC 4974 (b).

SB667-SSA1,8,8 7(6) A transferor's potential or actual receipt or use of principal or income of the
8legacy trust if the potential or actual receipt or use is the result of any of the following:

SB667-SSA1,8,129 (a) A qualified trustee's discretion. For purposes of this paragraph, a qualified
10trustee has discretion with respect to the distribution and use of the principal and
11income of a legacy trust unless the terms of the legacy trust expressly provide
12otherwise.

SB667-SSA1,8,1413 (b) A qualified trustee applying a standard that governs the distribution or use
14of principal or income of the legacy trust.

SB667-SSA1,8,1915 (c) A qualified trustee acting at the direction of an advisor if the advisor's
16direction is discretionary or pursuant to a standard that governs the distribution or
17use of principal or income under the terms of the legacy trust. For purposes of this
18paragraph, an advisor's direction is discretionary unless the terms of the legacy trust
19expressly provide otherwise.

SB667-SSA1,8,21 20(7) A transferor's potential or actual right to use real or tangible personal
21property owned by the legacy trust.

SB667-SSA1,8,24 22(8) A transferor's right to possess and enjoy a qualified interest, as defined in
2326 USC 2702 (b), or property held under a qualified personal residence trust, as
24described in 26 USC 2702 (c).

SB667-SSA1,9,3

1(9) A qualified trustee's mandatory or discretionary power to use the income
2or principal of the legacy trust to pay, in whole or in part, income taxes due on the
3income of the legacy trust.

SB667-SSA1,9,6 4(10) That a qualified trustee, whether pursuant to the qualified trustee's
5discretion, the terms of the legacy trust, or the direction of an advisor pays any of the
6following: