HB 188 (BR 425) - T. Kerr
AN ACT relating to trusts and estates.
Create new sections of KRS Chapter 381 to establish new standards and requirements relating to the rule against perpetuities in Kentucky; amend KRS 386.185 to increase to $50,000 the cap on the size of a trust which may be terminated and distributed upon court order; amend KRS 386.450 to modify the definition of district court approval "and define notice"; amend KRS 386.454 to add additional considerations for a fiduciary in considering potential adjustments between principal and income; amend KRS 386.480 to address allocations of payments made from a separate fund; amend KRS 386.715 to delineate to whom a trustee's duties are owed while a trust is still revocable; amend KRS 391.030 to increase to $2,500 the amount of a money a surviving spouse may initially withdraw from estate funds prior to administration and to establish a structure for the initial $15,000 estate set aside where the decedent dies testate; amend KRS 392.080 to set out the form to be used by a surviving spouse in renouncing a will; amend KRS 286.3-219, 381.223, and 386.478 to conform; repeal KRS 381.215, 381.216, and 381.217.
HB 188 - AMENDMENTS
HCS - Make technical corrections.
Jan 5-introduced in House
Jan 6-to Judiciary (H)
Jan 12-posting waived
Jan 13-reported favorably, 1st reading, to Calendar with Committee Substitute
Jan 14-2nd reading, to Rules
Jan 20-posted for passage in the Regular Orders of the Day for Thursday, January 21, 2010
Jan 21-3rd reading, passed 98-0 with Committee Substitute
Jan 22-received in Senate
Jan 25-to Judiciary (S)
Mar 4-reported favorably, 1st reading, to Consent Calendar
Mar 5-2nd reading, to Rules
Mar 9-posted for passage in the Consent Orders of the Day for Wednesday, March 10, 2010
Mar 10-3rd reading, passed 37-0; received in House; enrolled, signed by Speaker of the House
Mar 11-enrolled, signed by President of the Senate; delivered to Governor
Mar 18-signed by Governor (Acts ch. 21)