Various trust and probate issues

The House Judiciary Committee heard SB 50 on various trust and probate issues for amend and vote.  The bill is authored by Sen. Freeman and makes various changes to trust and probate laws concerning proof of title affidavits, small estate affidavits, execution of a trust by a third party, silent trusts, nonjudicial settlements of accounts, and legacy trusts.  The introduced version of this bill was prepared by the probate code study commission. The bill was amended by consent to provide that a witness or notary acknowledgment is not necessary for certain electronically signed inter vivos trusts and require certain electronic trust instruments to indicate that the trust instrument is being signed: (1) at the direction of the settlor; and (2) in the direct physical presence of the settlor. The amendment also specifies that certain electronically signed trusts are the creation of the named settlor.  The amended bill passed 12-0.

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