Bill Summary

by Spano Co Sponsors: Perry CS Sponsors: Insurance & Banking Subcommittee, Civil Justice Subcommittee

Estates: Deletes provision that provides that information relating to state death tax credit or generation-skipping transfer credit is not applicable to estates of decedents dying after specified date; provides for retroactive effect & application; provides for retroactive effect & application; provides exception to property held by agents & fiduciaries; provides that property held by fiduciaries under trust instruments is presumed unclaimed; revises language regarding instruments governed by laws of different state; provides provisions relating to gifts to lawyers & other disqualified persons; requires custodian of will to supply testator's date of death or last four digits of testator's social security number; provides original will submitted with pleading is considered to be deposited with clerk; requires clerk to retain & preserve original will in its original form for period of time; provides for in rem jurisdiction & personal jurisdiction over trustee, beneficiary, or other person; deletes provision referring to other methods of obtaining jurisdiction; provides methods of service of process in actions involving trusts & beneficiaries; repeals provisions relating to trust proceedings & dismissal of matters relating to foreign trusts; repeals provision relating to delegation of powers by trustee; clarifies duties of trustee. Effective Date: October 1, 2013

   H Civil Justice Subcommittee
   H Insurance & Banking Subcommittee
   H Justice Appropriations Subcommittee
   H Judiciary Committee