Florida § 736.1110 - Ademption by satisfaction.

§ 736.1110. Ademption by satisfaction.

(1) Property devised to or from a revocable trust which a settlor gave to a donee during the settlor’s lifetime or which is distributed from a revocable trust to a donee during the settlor’s lifetime is to be treated as a satisfaction of a devise to that donee, in whole or in part, upon the settlor’s death, if any of the following circumstances apply: (a) The trust instrument provides for the deduction of the lifetime gift or distribution. (b) The settlor or the trustee of the revocable trust declares in a contemporaneous writing that the gift or distribution is to be deducted from the devise or is in satisfaction of the devise. (c) The devisee acknowledges in writing that the gift or distribution is in satisfaction of the devise. (2) For purposes of part satisfaction, property distributed or given during the settlor’s lifetime is valued at the time the devisee came into possession or enjoyment of the property or at the time of the death of the settlor, whichever occurs first. (3) This section applies to revocable trusts that become irrevocable on or after July 1, 2025.