Text: HSB00743 Text: HSB00745 Text: HSB00700 - HSB00799 Text: HSB Index Bills and Amendments: General Index Bill History: General Index
PAG LIN 1 1 Section 1. Section 633.31, subsection 3, Code Supplement 1 2 1999, is amended to read as follows: 1 3 3. The fee set forth in subsection 2, paragraph "k", shall 1 4 not be charged on anyproperty transferred to a testamentary1 5 trustfrom an estate that has been administered in this state1 6and for which court costs have been assessed and paid. 1 7 Sec. 2. Section 633.32, subsections 1 and 2, Code 1999, 1 8 are amended to read as follows: 1 9 1. OnMayJune 1 andNovemberDecember 1 of each year, the 1 10 clerk shall notify the fiduciary and the fiduciary's attorney 1 11 of any delinquent inventories or reports due by law in any 1 12 pending estate, trust, guardianship, or conservatorship, and 1 13 that unless such delinquent inventory or report is filed 1 14 within sixty days thereafter, the matter shall be reported to 1 15 the presiding judge. If the delinquent inventory is not filed 1 16 within the time so specified, the fiduciary will be subject to 1 17 removal under the provisions of section 633.65 of this Code. 1 18 2. OnJulyAugust 1 andJanuaryFebruary 1 of each year, 1 19 the clerk shall report to the presiding judge all delinquent 1 20 inventories or reports in estates, trusts, guardianships or 1 21 conservatorships on which such notice has been given and no 1 22 report or inventory has been filed in response to the notice. 1 23 Sec. 3. Section 633.108, Code 1999, is amended to read as 1 24 follows: 1 25 633.108 SMALL DISTRIBUTIONS TO MINORS PAYMENT. 1 26 Whenever a minor becomes entitled under the terms of a will 1 27 to a bequest or legacy, to a share of the estate of an 1 28 intestate, or to a beneficial interest in a trust fund upon 1 29 the distribution of the trust fund, and the value of the 1 30 bequest, legacy, share, or interest does not exceed the sum of 1 31 ten thousand dollars,and a conservator for the minor has not1 32been appointed, the court having jurisdiction of the1 33distribution of the funds may, in its discretion, upon the1 34application of the fiduciary, enter an order authorizing the1 35fiduciary to pay the bequest, legacy, share, or interestthe 2 1 personal representative or trustee may pay the bequest, 2 2 legacy, share, or interest to a custodian under any uniform 2 3 transfers to minors Act. Receipt by the custodian, when 2 4 presented to the court or filed with the report of 2 5 distribution of the fiduciary, shall have the same force and 2 6 effect as though the payment had been made to a duly appointed 2 7 and qualified conservator for the minor. 2 8 Sec. 4. Section 633.271, Code 1999, is amended to read as 2 9 follows: 2 10 633.271 EFFECT OF DIVORCE OR DISSOLUTION. 2 11 If after making a will the testator is divorced or the 2 12 marriage is dissolved, all provisions in the will in favor of 2 13 the testator's spouse, including but not limited to 2 14 dispositions, appointments relating to property, and 2 15 nominations to serve in any fiduciary or representative 2 16 capacity, are thereby revoked. In the event the testator and 2 17 spouse remarry each other, the provisions of the will revoked 2 18 by the divorce or dissolution of marriage shall be reinstated 2 19 unless otherwise revoked by the testator. 2 20 Sec. 5. Section 633.304, unnumbered paragraph 2, Code 2 21 1999, is amended to read as follows: 2 22 As used in this section, "heir" means only such person as 2 23 would, in an intestate estate, be entitled to a share under 2 24 section 633.219, subsection 1, 2,or3, or 4of section2 25633.219. 2 26 Sec. 6. Section 633.305, unnumbered paragraph 2, Code 2 27 1999, is amended to read as follows: 2 28 As used in this section, "heir" means only such person as 2 29 would, in an intestate estate, be entitled to a share under 2 30 section 633.219, subsection 1, 2,or3, or 4of section2 31633.219. 2 32 Sec. 7. Section 633.705, Code 1999, is amended to read as 2 33 follows: 2 34 633.705 WHEN POWER OF ATTORNEY NOT AFFECTED BY DISABILITY. 2 35 1. Whenever a principal designates another the principal's 3 1 attorney in fact or agent by a power of attorney in writing 3 2 and the writing contains the words "This power of attorney 3 3 shall not be affected by disability of the principal", or 3 4 "This power of attorney shall become effective upon the 3 5 disability of the principal", or similar words showing the 3 6 intent of the principal that the authority conferred shall be 3 7 exercisable notwithstanding the principal's disability, the 3 8 authority of the attorney in fact or agent is exercisable as 3 9 provided in the power on behalf of the principal 3 10 notwithstanding later disability or incapacity of the 3 11 principal or later uncertainty as to whether the principal is 3 12 dead or alive. All acts done by the attorney in fact or agent 3 13 pursuant to the power during any period of disability or 3 14 incompetence or uncertainty as to whether the principal is 3 15 dead or alive have the same effect and inure to the benefit of 3 16 and bind the principal and the principal's heirs, devisees and 3 17 personal representatives as if the principal were alive, 3 18 competent and not disabled. If a conservator thereafter is 3 19 appointed for the principal, the attorney in fact or agent, 3 20 during the continuance of the appointment, shall account to 3 21 the conservator rather than the principal, and the conservator 3 22 shall have the power to revoke the power of attorney on behalf 3 23 of the principal. 3 24 2. An affidavit, executed by the attorney in fact or agent 3 25 stating that the attorney in fact or agent did not have, at 3 26 the time of doing an act pursuant to the power of attorney, 3 27 actual knowledge of the revocation or termination of the power 3 28 of attorney by death or by the act of the principal, is, in 3 29 the absence of fraud, conclusive proof of the nonrevocation or 3 30 nontermination of the power at that time. If the exercise of 3 31 the power requires execution and delivery of any instrument 3 32 which is recordable, the affidavit when properly acknowledged 3 33 is also recordable. 3 34 EXPLANATION 3 35 This bill amends several sections of Code chapter 633 4 1 relating to probate. 4 2 The bill amends Code section 633.31 to specify that court 4 3 costs are not taxable on any type of trust, whether it is 4 4 testamentary or inter vivos. 4 5 The bill amends Code section 633.32 to change the notice 4 6 and reporting date schedule for delinquent inventories and 4 7 reports due by law by one month. 4 8 The bill amends Code section 633.108 to allow bequests of 4 9 $10,000 or less to a minor to be paid to a custodian for the 4 10 minor under the uniform transfers to minors Act, without a 4 11 court order. 4 12 The bill amends Code section 633.271 to specify that when a 4 13 divorce of the testator revokes will provisions relating to 4 14 the testator's spouse, the revocation includes dispositions, 4 15 appointments of property, or nominations to serve in a 4 16 fiduciary or representative capacity. 4 17 The bill amends the definition of "heir" in Code sections 4 18 633.304 and 633.305 as it relates to those who are entitled to 4 19 receive notice of probate. The amendment includes notice to 4 20 grandparents or issue of grandparents of the decedent, in 4 21 addition to the decedent's children and parents, in line with 4 22 those entitled to inherit from an intestate estate under Code 4 23 section 633.219. 4 24 The bill amends Code section 633.705 to add a provision 4 25 parallel to that contained in Code section 633.706 that allows 4 26 an attorney in fact or agent to complete an affidavit that the 4 27 attorney in fact or agent had no knowledge of the revocation 4 28 or termination of a power of attorney at the time of an act 4 29 pursuant to the power of attorney. 4 30 LSB 5716YC 78 4 31 jj/gg/8
Text: HSB00743 Text: HSB00745 Text: HSB00700 - HSB00799 Text: HSB Index Bills and Amendments: General Index Bill History: General Index
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