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Senate Bill 0067


Senate Bill 0067

ARCHIVE (2010)

Latest Information

 

DIGEST OF SB67 (Updated January 26, 2010 3:50 pm - DI 84)


Trust matters. Prescribes trust interpretation rules to protect discretionary interests held by beneficiaries. Precludes creditor actions against certain trust interests. Authorizes matrimonial trusts. Authorizes a trustee to decant a trust. Authorizes a trustee to close a trust when a beneficiary cannot be found by selling the beneficiary's share and depositing the proceeds with the clerk of the court. Requires the clerk to hold the proceeds for the use and benefit of the person or persons thereafter determined by law to be entitled to the proceeds. (The introduced version of this bill was prepared by the probate code study commission.)
    Current Status:
     In Committee - 2nd House
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