The House Judiciary Committee heard Rep. Washburne’s HB 1407 which makes various changes to probate and trust matters concerning contesting of wills, the size of unsupervised estates, authorization of certain acts by a trustee, the consideration of the requests of de facto custodians and living parents of incapacitated persons in the appointment of guardians, and in custody o … [Read more...] about Probate and trust matters
trusts
Various probate and trust matters
S.E.A. 355, P.L. 81-2015 Effective: July 1, 2015 Provides that a trust may incorporate by reference a document that exists at the time the trust is executed. Specifies that funeral expenses and expenses of a tombstone are expenses of administration. Expands the definition of "person" in certain cases under the probate code to include governmental entities and other legal entities. … [Read more...] about Various probate and trust matters
Various probate and trust matters
The House Judiciary Committee heard SB 355 concerning various probate and trust matters sponsored by Rep. Koch. Author Sen. Steele introduced an amendment concerning attorneys in fact which was adopted by consent. As amended, the bill provides that a trust may incorporate by reference a document that exists at the time the trust is executed. The bill also specifies that funeral e … [Read more...] about Various probate and trust matters
Various probate and trust matters
The Senate Civil Law Committee heard Sen. Steele’s SB 355 on various probate and trust matters. This bill provides that a trust may incorporate by reference a document that exists at the time the trust is executed. It also specifies that funeral expenses and expenses of a tombstone are expenses of administration. The bill expands the definition of “person” under the probate code to i … [Read more...] about Various probate and trust matters
Legacy trust
The Senate Civil Law Committee heard SB 56, authored by Sen. Steele and Sen. Bray, on authorizing the establishment of legacy trust and prescribing the procedures for establishing one. This bill provides that a protective provision in a legacy trust prevents a creditor of the settlor from satisfying a claim from the settlor's interest in the trust estate when the settlor is also a … [Read more...] about Legacy trust