Bill Text: CT HB07030 | 2015 | General Assembly | Introduced

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Bill Title: An Act Concerning The Appointment Of Successor Trustees.

Spectrum: Committee Bill

Status: (Introduced - Dead) 2015-03-19 - Public Hearing 03/23 [HB07030 Detail]

Download: Connecticut-2015-HB07030-Introduced.html

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General Assembly		Raised Bill No. 7030
January Session, 2015		LCO No. 5401
		*05401_______JUD*
Referred to Committee on JUDICIARY
Introduced by:
(JUD)

AN ACT CONCERNING THE APPOINTMENT OF SUCCESSOR TRUSTEES.

Be it enacted by the Senate and House of Representatives in General Assembly convened:

Section 1. (NEW) (Effective October 1, 2015) (a) A trustee of an irrevocable inter vivos trust or a revocable inter vivos trust or, if there is no trustee, an income beneficiary of any such trust or, if there are two or more income beneficiaries, the majority of beneficiaries of any such trust, may, after the death of the settlor or grantor of any such trust, petition the Probate Court of the jurisdiction in which the settlor or grantor of any such trust resided immediately prior to death to appoint (1) a successor trustee for any such trust when no successor trustee is named in any such trust or the person or institution named as successor trustee is unable or unwilling to so serve, or (2) a trustee of any subtrust under such trusts.

(b) The Probate Court may appoint a suitable person or institution to serve as successor trustee of any such trust or as a trustee of any such subtrust.

This act shall take effect as follows and shall amend the following sections:
Section 1	October 1, 2015	New section

Statement of Purpose:

To improve Probate Court procedures involving the appointment of successor trustees.

[Proposed deletions are enclosed in brackets. Proposed additions are indicated by underline, except that when the entire text of a bill or resolution or a section of a bill or resolution is new, it is not underlined.]