Legislative Update

trusts

Rule against perpetuities

Filed Under: Probate

H.E.A. 1209, P.L. 61 Effective: July 1, 2024 Adds provisions regarding a second power of appointment. Extends the period of time for which certain nonvested property interests are valid from 90 years to 360 years after the interest is created. Extends the period of time for which certain powers of appointment are valid under specified conditions from 90 years to 360 … [Read more...] about Rule against perpetuities

Various probate matters

Filed Under: Probate

The House Judiciary Committee heard SB 18 concerning various probate matters sponsored by Rep. Torr and authored by Sen. Brown.  The introduced version of this bill was prepared by the probate code study commission. The bill provides: The Committee adopted an amendment by consent that removes the requirement that a small estate affidavit be sent into the Medicaid unit and … [Read more...] about Various probate matters

Rule against perpetuities

Filed Under: Civil, Probate

The Senate Judiciary Committee heard HB 1209 on rule against perpetuities authored by Rep. Heine and sponsored by Sen. L. Brown and Sen. Johnson. The bill adds provisions regarding a second power of appointment, extends the period of time for which certain nonvested property interests are valid from 90 years to 360 years after the interest is created, and extends the period of time … [Read more...] about Rule against perpetuities

Rule against perpetuities

Filed Under: Civil, Probate

The House Judiciary Committee heard HB 1209 on rule against perpetuities authored by Rep. Heine. The bill adds provisions regarding a second power of appointment and extends the period of time for which certain nonvested property interests are valid from 90 years to 360 years after the interest is created. The bill further extends the period of time for which certain powers of … [Read more...] about Rule against perpetuities