HB 402 (BR 850) - J. Barrows
AN ACT relating to property.
Create a new section of KRS Chapter 386 to permit the amendment of trusts; amend KRS 391.030 to raise from $7,500 to $15,000 the amount of money set aside for the surviving spouse of a person who dies intestate or, if there is no surviving spouse, to the living descendants of the deceased person; amend KRS 392.080 to require that if a surviving spouse takes against a will, the spouse shall be deemed to have predeceased the testator for the purposes of any inter vivos trust created by the testator; amend KRS 395.455 to permit children, and other lineal descendants, to dispense with administration in the same way as a surviving spouse.
HB 402 - AMENDMENTS
HCA (1, J. Vincent) - Permit a personal representative to apply to select up to $15,000 out of an estate without the approval of the District Court.
HCA (2, J. Vincent) - Prohibit beneficiaries and claimants from assigning certain probatable assets; permit the court to dispense with the administration of an estate under certain circumstances.
HCA (3, J. Vincent) - Permit the surviving spouse to petition the District Court to withdraw from any bank $2,500, rather than the current $1,000, belonging to the estate of the deceased.
HCA (4, B. Yonts) - Require that property prevented from passing to a former spouse because of revocation by divorce or annulment passes to any contingent beneficiary or class of contingent beneficiaries, identified in the will, as if the former spouse failed to survive the decedent; require that if there is no contingent beneficiary or class of contingent beneficiaries, identified in the will, entitled to the spouse's inheritance, the property passes to the residuary estate.
Jan 19-introduced in House
Jan 20-to Judiciary (H)
Jan 28-posted in committee
Feb 10-reported favorably, 1st reading, to Calendar with committee amendments (1) (2) (3) and (4)
Feb 14-2nd reading, to Rules; posted for passage in the Regular Orders of the Day for Tuesday, February 15, 2000
Feb 16-3rd reading, passed 92-2 with committee amendments (1) (2) (3) and (4)
Feb 17-received in Senate
Feb 22-to Judiciary (S)