KY HB78 | 2014 | Regular Session
Status
Completed Legislative Action
Spectrum: Bipartisan Bill
Status: Passed on April 7 2014 - 100% progression
Action: 2014-04-07 - signed by Governor (Acts, ch. 25)
Text: Latest bill text (Draft #5) [MS Word]
Spectrum: Bipartisan Bill
Status: Passed on April 7 2014 - 100% progression
Action: 2014-04-07 - signed by Governor (Acts, ch. 25)
Text: Latest bill text (Draft #5) [MS Word]
Summary
Establish KRS Chapter 386B and create subchapters and sections thereof to enact the Kentucky Uniform Trust Code; provide for the creation, administration, modification, termination, and validity of trusts; address definitions, general provisions, venue, jurisdiction, and administration of trusts; establish method of sending notice and waiving notice; allow trust matter to be commenced in District or Circuit Court; provide uniformity regarding representation in transactions or proceedings related to a trust; allow a minor, incapacitated person, unborn individual, or person whose identity is unknown to be represented and legally bound by another having a substantially identical interest with respect to a particular question or dispute in a trust matter; require that most trusts to have a definite beneficiary and, alternatively, allow and legitimatize trusts for care of animals, charitable trusts, and trusts for a noncharitable purpose; allow the creation of a trust without a trust instrument; allow oral trusts; require clear and convincing evidence as the standard of proof for oral trusts; provide that courts may apply the doctrine of cy pres to a charitable trust when the charitable purpose is no longer obtainable and a comparable purpose may be selected; give express statutory direction for creditor
Title
AN ACT relating to trusts and estates.
Sponsors
History
| Date | Chamber | Action |
|---|---|---|
| 2014-04-07 | House | signed by Governor (Acts, ch. 25) |
| 2014-03-26 | House | delivered to Governor |
| 2014-03-26 | House | enrolled, signed by President of the Senate |
| 2014-03-26 | House | enrolled, signed by Speaker of the House |
| 2014-03-26 | House | received in House |
| 2014-03-25 | Senate | 3rd reading, passed 38-0 |
| 2014-03-24 | Senate | posted for passage in the Consent Orders of the Day for Tuesday, March 25, 2014 |
| 2014-03-21 | Senate | 2nd reading, to Rules |
| 2014-03-20 | Senate | reported favorably, 1st reading, to Consent Calendar |
| 2014-03-07 | Senate | to Judiciary (S) |
| 2014-03-05 | Senate | received in Senate |
| 2014-03-04 | House | 3rd reading, passed 97-0 with Committee Substitute (2) |
| 2014-03-04 | House | Committee Substitute (1) withdrawn |
| 2014-02-27 | House | posted for passage in the Consent Orders of the Day for Tuesday, March 4, 2014 |
| 2014-02-26 | House | reported favorably, to Rules with Committee Substitute (2) as a Consent Bill |
| 2014-01-15 | House | recommitted to Judiciary (H) |
| 2014-01-09 | House | 2nd reading, to Rules |
| 2014-01-08 | House | reported favorably, 1st reading, to Consent Calendar with Committee Substitute |
| 2014-01-07 | House | posting waived |
| 2014-01-07 | House | to Judiciary (H) |
| 2014-01-07 | House | introduced in House |
