HB 1205 IN

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Became Law

Allows a trustee of an irrevocable trust to appoint a successor trustee or multiple trustees. Provides that a trustee's power to appoint a successor trustee includes the power to allocate trustee powers to one or more trustees. Enacts the uniform trust decanting act. Creates a definition of the decanting power to include a power by a trustee to make limited modifications to an irrevocable trust, including an asset transfer to a new trust. Requires that a modification be consistent with a settlor's or charitable organization's intent. Permits the trustee of an existing trust to make modifications to or distributions from an existing trust for the benefit of a disabled beneficiary. Prohibits a trustee from being required to decant. Requires advanced notice to all qualified beneficiaries. Provides that the decanting power of an authorized fiduciary is not precluded by certain terms. (The introduced version of this bill was prepared by the Probate Code Commission.)

• John Young · author
• Aaron Freeman Republican · sponsor
• Eric Koch Republican · sponsor

1. Jan 6, 2022 Authored by Representative Young J · lower
2. Jan 6, 2022 First reading: referred to Committee on Judiciary · lower
3. Jan 13, 2022 Committee report: do pass, adopted · lower
4. Jan 18, 2022 Second reading: ordered engrossed · lower
5. Jan 20, 2022 Senate sponsors: Senators Freeman and Koch · lower
6. Jan 20, 2022 Third reading: passed; Roll Call 50: yeas 84, nays 0 · lower
7. Jan 21, 2022 Referred to the Senate · lower
8. Feb 1, 2022 First reading: referred to Committee on Judiciary · upper
9. Feb 10, 2022 Committee report: amend do pass, adopted · upper
10. Feb 14, 2022 Second reading: ordered engrossed · upper
11. Feb 15, 2022 Third reading: passed; Roll Call 201: yeas 47, nays 0 · upper
12. Feb 16, 2022 Returned to the House with amendments · upper
13. Feb 21, 2022 Motion to concur filed · lower
14. Feb 22, 2022 House concurred in Senate amendments; Roll Call 246: yeas 92, nays 0 · lower
15. Feb 24, 2022 Signed by the Speaker · lower
16. Feb 24, 2022 Signed by the President Pro Tempore · upper
17. Mar 15, 2022 Signed by the President of the Senate · upper
18. Mar 18, 2022 Signed by the Governor · executive
19. Mar 18, 2022 Public Law 161 · lower

The published texts of this bill as it moves through the legislature. Each links to the official document on the state legislature site. Data from OpenStates.

• Enrolled House Bill (H) · Feb 22, 2022 · PDF
• Introduced House Bill (H) · Jan 5, 2022 · PDF
• House Bill (H) · Jan 13, 2022 · PDF
• House Bill (S) · Feb 10, 2022 · PDF