Articles Tagged with fiduciary

              In Part 1 of our article on Understanding the Florida Uniform Fiduciary Income and Principal Act,  we introduced the recently enacted Florida Uniform Fiduciary Income and Principal Act (FUFIPA) and the 2002 Florida Uniform Principal and Income Act (FPIA) that it replaced. This article will dive a little more in-depth into the topics discussed in Part 1 and discuss the other impacts of this new legislation.

WHAT IS DIFFERENT BETWEEN THE OLD AND NEW INCOME AND PRINCIPAL ACTS:

Power to Adjust:

Florida has been growing incredibly quickly. According to a study by U.S. News and World Report, the state was one of the top five places people moved in 2024, and Fort Myers, Florida, was the fastest-growing place of the year.[i]  Florida cities comprise 7 of the top 10 spots on the list. As the Sunshine State continues to grow and expand, it is more important than ever to modernize its laws to meet the needs of a changing and dynamic population.

One aspect of Florida law that will change in 2025 is the administration of trusts and estates. The Florida Uniform Fiduciary Income and Principal Act (FUFIPA) will replace the 2002 Florida Uniform Principal and Income Act (FPIA).

 
WHO THIS APPLIES TO:

Contact Information