The Senate Judiciary Committee heard Sen. Freeman’s SB 50 on various trust and probate issues for amend and vote. The bill makes various changes to trust and probate laws concerning proof of title affidavits, small estate affidavits, execution of a trust by a third party, silent trusts, nonjudicial settlements of accounts, and legacy trusts. The bill was amended by consent to make … [Read more...] about Various trust and probate issues
trusts
Accounting by attorney in fact
S.E.A. 223, P.L. 151 Effective: July 1, 2019 Provides that an attorney in fact is required to render and deliver a written accounting if requested by a person who jointly owns an account with the principal. Provides that an attorney in fact may not render and deliver an accounting to the child of the principal, if a court has determined that the rendering and delivery of an … [Read more...] about Accounting by attorney in fact
Various trust matters
S.E.A. 265, P.L. 221 Effective: July 1, 2019 Defines "designated representative", "judicial proceeding", and "nonjudicial matter" for purposes of the trust code. Authorizes the establishment of legacy trusts. Prescribes the procedures for establishing a legacy trust and requirements for claims under a legacy trust. Provides that a court shall exercise jurisdiction over a legacy … [Read more...] about Various trust matters
Accounting by attorney in fact
The House Judiciary Committee heard SB 223 on accounting by attorney in fact, sponsored by Rep. Steuerwald. The bill provides that an attorney in fact is required to render and deliver a written accounting if requested by a person who jointly owns an account with the principal. The bill also provides that an attorney in fact may not render and deliver an accounting to the child of … [Read more...] about Accounting by attorney in fact
Various trust matters
For amend and vote only, the House Judiciary Committee heard SB 265 on various trust matters, sponsored by Rep. Steuerwald. The bill does the following: Defines "designated representative", "judicial proceeding", and "nonjudicial matter" for purposes of the trust code. Authorizes the establishment of legacy trusts. Prescribes the procedures for establishing a legacy trust and … [Read more...] about Various trust matters