Representation of trust beneficiaries.
Vote required
Majority
Fiscal committee
No
Appropriation
No
Current location
Chaptered
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Progress
Where this bill stands in the legislative process.
- Introduced
- Passed Assembly
- Passed Senate
- To Governor
- Became Law
Overview
This bill changes how notice is given regarding trusts. Currently, a trust beneficiary must be directly notified of certain actions. This bill allows a person authorized to represent another to provide notice on their behalf, and that notice is considered valid as if given directly to the beneficiary. It also requires written consent for representation and includes specific limitations to prevent conflicts of interest and protect beneficiaries.
Key provisions
- Notice given by a representative is sufficient for trust-related notices.
- Written consent is required for a person to represent another for trust matters.
- Representatives must not have conflicts of interest.
- Settlors cannot represent beneficiaries regarding trust termination or modification.
- Specific representative relationships are authorized (e.g., parent representing minor children, conservator representing conservatee).
- Representation of successive interests is permitted under certain circumstances.
- A lifetime power of appointment holder can represent appointees in default.
Who is affected
- Trust beneficiaries
- Trustees
- Legal representatives
- Estate planning attorneys
- Individuals with trusts
Notable changes
- Replaces indirect notice requirements with direct representation by authorized individuals.
Bill text
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Sponsors
Official sponsors from legislative records.
1 on record
Primary sponsor
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