estates

S.E.A. 253, P.L. 137 Effective: July 1, 2016 Enacts the Revised Uniform Fiduciary Access to Digital Assets Act of the National Conference of Commissioners on Uniform State Laws. Defines "digital asset" as an electronic record in which an individual has a right or interest. Defines "custodian" as a person that carries, maintains, processes, receives, or stores a digital asset. … [Read more...] about Uniform Fiduciary Access to Digital Assets Act

S.E.A. 371, P.L. 190 Effective: §§1-31, 42 effective March 24, 2016; §§32-41 effective July 1, 2016 Provides that an individual otherwise qualified for certain property tax deductions for property that the individual occupies as a beneficiary of the trust that owns the property is not required to be considered the owner of the property under the rules of construction for the pro … [Read more...] about Probate matters

The House Judiciary Committee heard SB 253 on the Uniform Fiduciary Access to Digital Assets Act sponsored by Rep. Washburne. Author Sen. Waltz explained that the bill determines what happens to an individual’s digital assets upon death. The bill enacts the Revised Uniform Fiduciary Access to Digital Assets Act of the National Conference of Commissioners on Uniform State Laws.  The b … [Read more...] about Uniform Fiduciary Access to Digital Assets Act

The House Judiciary Committee heard SB 371, sponsored by Rep. Koch, on probate matters. The bill: permits residential property to qualify for homestead exemption if occupied by a beneficiary of a trust that holds legal title; requires inheritance tax returns to be filed with the State Department of Revenue instead of the county level, but without changing allocation of … [Read more...] about Probate matters