Delaware Senate Bill 138 (Prior Session Legislation)

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Completed Legislative Action
Spectrum: Partisan Bill (Democrat 4-0)
Status: Passed on August 6 2013 - 100% progression
Action: 2013-08-06 - Signed by Governor
Text: Latest bill text (Engrossed) [HTML]

Section 1 of the Act reconciles the provisions of Title 12 and Title 13 regarding the application of the laws governing intestate succession to persons born out of wedlock. Section 2 of the Act (i) revises the definition of “governing instrument” appearing in Section 3301, (ii) clarifies that a fiduciary need not inquire as to the nature and extent of investments held by the fiduciary in an investment directed trust or an investment directed account within a trust in order for the fiduciary to satisfy the prudent person standard of Section 3302, (iii) revises Section 3303 to clarify that a governing instrument may, with respect to trusts held pursuant to the governing instrument, override any general rule of trust law, subject to the limitations described in Section 3303, (iv) corrects a cross-reference and a typographical error, (v) revises Section 3334 for clarity but is not intended to make a substantive change to the statute, (vi) provides a procedure for appointing successor trustees in the circumstances described therein, and (vii) clarifies existing law regarding when claims against a decedent’s revocable trust are barred by reason of a bar on claims against the decedent’s estate. Section 3 of the Act (i) clarifies existing law regarding when a fiduciary may be held liable for failure to exercise, or consider exercising, the fiduciary’s statutory decanting power, (ii) clarifies existing law regarding creditor remedies barred by Section 3536 in the circumstances described herein, (iii) clarifies the circumstances under which virtual representation may be used, (iv) makes the definition of “good faith” in Section 3580 applicable throughout Title 12, and (v) revises Section 3593 to address pecuniary gifts from a trust triggered by the death of a beneficiary and to clarify the application of the statute in cases where a death results in a change of trustee. Section 4 of the Act is intended to clarify that the creditor protection afforded to life insurance policies and proceeds owned or payable to certain persons is available in cases where the person owning the policy or to whom the proceeds are payable is the trustee of a common law trust and to conform Section 102 of Title 18 with Section 4915 of Title 10. Section 5 of the Act clarifies existing law regarding the delivery requirements for an instrument releasing a power of appointment. Section 6 of the Act provides for the effective date of the Act.

An Act To Amend Titles 12, 18, And 25 Of The Delaware Code Relating To Fiduciary Relations, Insurance, And Property.

Sen. Bryan Townsend [D]

Rep. Bryon Short [D]

Rep. Melanie Smith [D]

Rep. Rebecca Walker [D]

2013-07-01 - House - House Third Reading (Y: 40 N: 0 NV: 0 Abs: 1) [PASS]
2013-06-20 - Senate - Senate Third Reading (Y: 20 N: 0 NV: 0 Abs: 1) [PASS]

Date	Chamber	Action
2013-08-06	Senate	Signed by Governor
2013-07-01	House	Passed by House of Representatives. Votes: Passed 40 YES 0 NO 0 NOT VOTING 1 ABSENT 0 VACANT
2013-06-26	House	Reported Out of Committee (JUDICIARY) in House with 6 On Its Merits
2013-06-25	House	Introduced and Assigned to Judiciary Committee in House
2013-06-20	Senate	Passed by Senate. Votes: Passed 20 YES 0 NO 0 NOT VOTING 1 ABSENT 0 VACANT
2013-06-20	Senate	Amendment SA 2 - Passed by Senate. Votes: Passed 20 YES 0 NO 0 NOT VOTING 1 ABSENT 0 VACANT
2013-06-20	Senate	Amendment SA 1 - Passed by Senate. Votes: Passed 20 YES 0 NO 0 NOT VOTING 1 ABSENT 0 VACANT
2013-06-20	Senate	Reported Out of Committee (BANKING) in Senate with 4 On Its Merits
2013-06-20	Senate	Amendment SA 2 - Introduced and Placed With the Bill in Senate
2013-06-18	Senate	Amendment SA 1 - Introduced and Placed With the Bill in Senate
2013-06-14	Senate	Assigned to Banking Committee in Senate

Type	Source
Summary	http://legis.delaware.gov/LIS/lis147.nsf/2bede841c6272c888025698400433a04/f271027d8f32d05f85257b89004fa910?OpenDocument
Text	http://legis.delaware.gov/LIS/lis147.nsf/vwLegislation/SB+138/$file/legis.html?open
Text	http://legis.delaware.gov/LIS/lis147.nsf/EngrossmentsforLookup/SB+138/$file/Engross.html?open
Roll Call	http://legis.delaware.gov/LIS/lis147.nsf/7712cf7cc0e9227a852568470077336f/e65747948ae8a3b885257b900066e8a2?OpenDocument
Roll Call	http://legis.delaware.gov/LIS/lis147.nsf/7712cf7cc0e9227a852568470077336f/6e6eb301fd82cdaa85257b9b001e8a44?OpenDocument