Wills and Decedents' Estates Passed HB490 Inheritance. Provides that when parental rights are involuntarily terminated the child may still inherit from the parent but the parent may not inherit from the child. Ancestors of the parent and descendants of ancestors, other than the parent whose rights were terminated, may inherit from the child. These provisions apply unless the termination order states otherwise. Patron - Howell HB761 Augmented estate. Provides that the value of an insurance policy which is included in the augmented estate is determined as of the date of an irrevocable transfer of the policy during the decedent's life and is the cost of a comparable policy on that date or its "interpolated policy reserve." The value of premiums paid on a policy owned by another is the amount of the premiums. Patron - McClure Failed HB488 Exemption and revocation of wills. Eliminates the requirement of strict adherence to the formalities required for the execution of a will or revocation of a will upon clear and convincing evidence that the decedent intended the writing to be a will or revocation. This remedy is available only in actions brought within one year from the decedent's death and is available to excuse compliance with the requirement of a testator's signature only when it is shown that two people mistakenly signed the other's will or that a person mistakenly signed the self-proving certificate instead of the will. The bill is based upon a similar provision in the Uniform Probate Code (§ 2-503). Patron - Howell HB985 Disbarred attorneys. Provides that if the attorney who drafted the will is subsequently disbarred he must notify the testator, who must execute a codicil acknowledging the disbarment and reaffirming his desire to have the attorney serve as executor. If the testator fails to act, the attorney is not allowed to serve as an executor. If the disbarment is subsequent to the testator's death the attorney must notify the court. Patron - McEachin SB8 Execution and revocation of wills. Eliminates the requirement of strict adherence to the formalities required for the execution of a will or revocation of a will upon clear and convincing evidence that the decedent intended the writing to be a will or revocation. This remedy is available only in actions brought within one year from the decedent's death and is available to excuse compliance with the requirement of a testator's signature only when it is shown that two people mistakenly signed the other's will or that a person mistakenly signed the self-proving certificate instead of the will. The bill is based upon a similar provision in the Uniform Probate Code (§ 2-503). Patron - Benedetti Carried Over HB759 Payment of small sums to trustee. Requires a financial institution to pay up to $10,000, whether principal or income, to a trustee or personal representative of a decedent to whom such money is owed if there has been no qualification on the decedent's estate for 60 days. Patron - McClure HB1049 Marital trusts. Grants the trustee or personal representative a general power of appointment of all income of a marital trust to the surviving spouse or the surviving spouse's estate without regard to the decedent's date of death or execution of the will. Patron - McClure < PREVIOUS | CONTENTS | NEXT >