Many people think that trusts are simple—this is misleading. Besides the Florida requirements for a valid trust the Internal Revenue Code provisions on trusts indicate that descriptions that trusts are simple are misleading.

The settler of a trust must consider two things when creating a trust:

1. Who to select as a trustee
2. Who to select as beneficiaries & the pattern & timing of distributions
3. Consideration is not longer a requirement to create a trust in Florida.

Consideration is not longer a requirement to create a trust in Florida. In addition there are many other terms that are used in discussions about trusts. Please reference the following list of trust related terms.