IN SB0065 | 2010 | Regular Session
Status
Completed Legislative Action
Spectrum: Bipartisan Bill
Status: Passed on March 25 2010 - 100% progression
Action: 2010-03-25 - Sections 26 through 40 effective 07/01/2010
Text: Latest bill text (Enrolled) [HTML]
Spectrum: Bipartisan Bill
Status: Passed on March 25 2010 - 100% progression
Action: 2010-03-25 - Sections 26 through 40 effective 07/01/2010
Text: Latest bill text (Enrolled) [HTML]
Summary
Specifies the requirements of an affidavit used to state that no inheritance tax is due after applying statutory exemptions to each transferee receiving property as a result of the decedent's death. Requires that inheritance tax returns include all taxable transfers known to the person filing the return. Specifies a guardian's powers concerning the estate planning of a protected person. Repeals the current statute governing a guardian's authority to engage in estate planning for a protected person. Makes various changes to statutes concerning the following: (1) The transfer on death of motor vehicles and watercraft. (2) Probate notice requirements. (3) Protected persons. (4) Funeral declarations. (5) Attorneys in fact. (6) Nonprobate transferees. (7) The transfer on death act. (8) Disclaiming interests in property. 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. Provides that trusts and wills of decedents who die in 2010 that contain certain formulas refer to the federal estate tax and generation-skipping transfer tax laws as they applied to estates of decedents on December 31, 2009. (The introduced version of this bill was prepared by the probate code study commission.)
Title
Guardianships, estate administration, trust matters, and wills.
Sponsors
History
Date | Chamber | Action |
---|---|---|
2010-03-25 | Sections 26 through 40 effective 07/01/2010 | |
2010-03-25 | Section 25 effective retroactive to 07/01/2009 | |
2010-03-25 | Sections 14 through 24 effective 07/01/2010 | |
2010-03-25 | Section 13 effective retroactive to 12/01/2009 | |
2010-03-25 | Sections 7 through 12 effective 07/01/2010 | |
2010-03-25 | Section 6 effective retroactive to 12/01/2009 | |
2010-03-25 | Sections 1 through 5 effective 07/01/2010 | |
2010-03-25 | Public Law 6 | |
2010-03-12 | Signed by the Governor | |
2010-03-11 | Signed by the President of the Senate | |
2010-03-08 | Signed by the Speaker | |
2010-03-04 | Signed by the President Pro Tempore | |
2010-03-01 | Senate concurred in House amendments; Roll Call 242: Yeas 46, Nays 0 | |
2010-03-01 | Motion to concur in House amendments filed | |
2010-02-25 | Returned to the Senate with amendments | |
2010-02-25 | Third reading: passed; Roll Call 224: Yeas 95, Nays 0 | |
2010-02-24 | Second reading: ordered engrossed | |
2010-02-22 | Committee report: amend do pass, adopted | |
2010-02-02 | First reading: referred to Committee on Judiciary | |
2010-01-26 | Senator Broden added as second author | |
2010-01-26 | Cosponsor: Rep. Foley | |
2010-01-26 | House sponsor: Rep. VanHaaften | |
2010-01-26 | Referred to the House | |
2010-01-26 | Third reading: passed; Roll Call 36: Yeas 50 and Nays 0 | |
2010-01-21 | Amendment 1 (Zakas), prevailed; | |
2010-01-21 | Second reading: amended, ordered engrossed | |
2010-01-19 | Committee report: amend do pass, adopted | |
2010-01-05 | First reading: referred to Committee on Judiciary | |
2010-01-05 | Authored by Senator Zakas |