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Fla. Stat. § 736.0103(17) – Florida Statutes

Text of Fla. Stat. § 736.0103(17)

“Power of withdrawal” means a presently exercisable general power of appointment other than a power:

(a) Exercisable by a trustee and limited by an ascertainable standard; or

(b) Exercisable by another person only upon consent of the trustee or a person holding an adverse interest.

History of Fla. Stat. § 736.0103(17)

The term “power of withdrawal” has been consistently defined since the Florida Trust Code took effect in 2007. However, the placement of the definition has changed over time. For example, the term “power of withdrawal” was originally found in of Fla. Stat. § 736.0103(12). At that time, Fla. Stat. § 736.0103(17) defined the term “spendthrift provision.”