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House Amendment 6037

Amendment Text

PAG LIN
  1  1    Amend House File 2500 as follows:
  1  2    #1.  Page 1, by inserting before line 1 the
  1  3 following:
  1  4    "Sec.    .  Section 614.14, subsection 4, paragraph
  1  5 b, Code 1995, is amended to read as follows:
  1  6    b.  That, to the knowledge of the trustee, the
  1  7 person creating the trust was under no disability or
  1  8 infirmity at the time the trust was created.
  1  9    Sec.    .  Section 633.10, subsection 4, Code 1995,
  1 10 is amended by adding the following new paragraph:
  1 11    NEW PARAGRAPH.  d.  A trust that is administered
  1 12 solely or jointly by an individual trustee or trustees
  1 13 is not subject to the jurisdiction of the court unless
  1 14 jurisdiction is invoked by a trustee or beneficiary,
  1 15 or if otherwise provided by the governing instrument.
  1 16 Upon application of all trustees administering a trust
  1 17 which is subject to the court's jurisdiction, and
  1 18 following notice to beneficiaries as provided in
  1 19 section 633.40, subsection 4, the court shall release
  1 20 the trust from further jurisdiction unless one or more
  1 21 beneficiaries object, on the condition that
  1 22 jurisdiction may thereafter be invoked by a trustee or
  1 23 beneficiary.  The provisions of this paragraph shall
  1 24 be effective for applications filed on or after July
  1 25 1, 1996.
  1 26    Sec.    .  Section 633.31, Code 1995, is amended by
  1 27 adding the following new subsection:
  1 28    NEW SUBSECTION.  3.  The fee set forth in
  1 29 subsection 2, paragraph "k" shall not be charged on
  1 30 any property transferred to a testamentary trust from
  1 31 an estate that has been administered in this state and
  1 32 for which court costs have been assessed and paid.
  1 33    Sec.    .  Section 633.410, Code Supplement 1995,
  1 34 is amended to read as follows:
  1 35    633.410  LIMITATION ON FILING CLAIMS AGAINST
  1 36 DECEDENT'S ESTATE.
  1 37    All claims against a decedent's estate, other than
  1 38 charges, whether due or to become due, absolute or
  1 39 contingent, liquidated or unliquidated, founded on
  1 40 contract or otherwise, are forever barred against the
  1 41 estate, the personal representative, and the
  1 42 distributees of the estate, unless filed with the
  1 43 clerk within the later to occur of four months after
  1 44 the date of the second publication of the notice to
  1 45 creditors or, as to each claimant whose identity is
  1 46 reasonably ascertainable, one month after service of
  1 47 notice by ordinary mail to the claimant's last known
  1 48 address.  However, notice is not required to be given
  1 49 by mail to any creditor whose claim will be paid or
  1 50 otherwise satisfied during administration and the
  2  1 personal representative may waive the limitation on
  2  2 filing provided under this section.  This section does
  2  3 not bar claims for which there is insurance coverage,
  2  4 to the extent of the coverage, claims for debts
  2  5 created under section 249A.5 relating to the recovery
  2  6 of medical assistance payments, or claimants entitled
  2  7 to equitable relief due to peculiar circumstances.
  2  8    Sec.    .  Section 633.440, Code 1995, is amended
  2  9 to read as follows:
  2 10    633.440  CONTENTS OF NOTICE OF DISALLOWANCE.
  2 11    Such a notice of disallowance shall advise the
  2 12 claimant that the claim has been disallowed and will
  2 13 be forever barred unless the claimant shall within
  2 14 twenty days after the date of mailing the notice, file
  2 15 a request for hearing on the claim with the clerk, and
  2 16 mail a copy of such request for hearing to the
  2 17 personal representative and the attorney of record, if
  2 18 any, by certified mail.
  2 19    Sec.    .  Section 633.681, Code 1995, is amended
  2 20 to read as follows:
  2 21    633.681  ASSETS OF MINOR WARD EXHAUSTED.
  2 22    When the assets of a minor ward's conservatorship
  2 23 are exhausted or consist of personal property only of
  2 24 an aggregate value not in excess of four ten thousand
  2 25 dollars, the court, upon application or upon its own
  2 26 motion, may terminate the conservatorship and.  The
  2 27 order for termination shall direct the conservator to
  2 28 deliver the any property remaining after the payment
  2 29 of allowed claims and expenses of administration to
  2 30 the parent or other person entitled to the custody of
  2 31 the minor ward, for the use of the ward, after payment
  2 32 of allowed claims and expenses of administration a
  2 33 custodian under any uniform transfers to minors Act.
  2 34 Such delivery shall have the same force and effect as
  2 35 if delivery had been made to the ward after attaining
  2 36 majority.
  2 37    Sec.    .  Section 633.704, subsection 3, paragraph
  2 38 a, Code Supplement 1995, is amended to read as
  2 39 follows:
  2 40    a.  PASSAGE OF DISCLAIMED INTEREST OR PROPERTY.
  2 41 Unless the transferor has otherwise provided, the
  2 42 property, interest, or right disclaimed, and any
  2 43 future interest which is to take effect in possession
  2 44 or enjoyment at or after the termination of the
  2 45 interest or right disclaimed, descends or shall be
  2 46 distributed as if the disclaimant has died prior to
  2 47 the date of the transfer, or if the disclaimant is one
  2 48 designated to take pursuant to a power of appointment
  2 49 exercised by testamentary instrument, then as if the
  2 50 disclaimant has predeceased the donee of the power
  3  1 unless the donee of the power has otherwise provided.
  3  2 In every case, the disclaimer relates back for all
  3  3 purposes to the date of the transfer.  In the case of
  3  4 a disclaiming beneficiary under a will, other than a
  3  5 spouse, the property, interest, or right disclaimed
  3  6 passes to the heirs of the disclaimant unless from the
  3  7 terms of the transferor's will the intent is clear and
  3  8 explicit to the contrary, in which event the property,
  3  9 interest, or right disclaimed passes pursuant to the
  3 10 will.  In the case of a disclaimer under a will by a
  3 11 spouse the property, interest, or right disclaimed
  3 12 lapses unless from the terms of the transferor's will
  3 13 the intent is clear and explicit to the contrary."
  3 14    #2.  Title page, line 1, by inserting after the
  3 15 word "for" the following:  "certain changes in the
  3 16 probate code, including changes in the jurisdiction of
  3 17 the probate court on certain testamentary trusts, fees
  3 18 payable on certain trusts, claims against estates for
  3 19 medical assistance payments, and".
  3 20    #3.  By renumbering as necessary.  
  3 21 
  3 22 
  3 23                              
  3 24 LAMBERTI of Polk
  3 25 HF 2500.201 76
  3 26 jls/jj
     

Text: H06036                            Text: H06038
Text: H06000 - H06099                   Text: H Index
Bills and Amendments: General Index     Bill History: General Index

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