WV SB622 | 2010 | Regular Session

Status

Spectrum: Partisan Bill (Democrat 3-0)
Status: Introduced on February 19 2010 - 25% progression, died in committee
Action: 2010-02-19 - To Judiciary
Pending: Senate Judiciary Committee

Summary

The purpose of this bill is to make comprehensive revision to the state's trust laws by substantially enacting the Uniform Trust Code and integrating it into the existing statutes in West Virginia which deal with trusts. The Uniform Trust Code was adopted by the National Conference of Commissioners on Uniform State Laws and approved by the American Bar Association, the ABA Real Property, Probate and Trust Law Section, and the AARP and provides a comprehensive model for codifying the law of trusts. The original language of the Uniform Trust Code has been modified where necessary to conform to existing West Virginia practices and procedures. In order to eliminate confusion, clarifications have also been made where necessary to existing statutory provisions governing personal representatives of estates, who are also fiduciaries like trustees, and provisions governing trustees of real estate deeds of trust. The Uniform Trust Code would apply beginning July 1, 2011.

Tracking Information

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Title

Relating to estate and trust administration

Sponsors


History

DateChamberAction
2010-02-19 To Judiciary
2010-02-19 To Judiciary
2010-02-19 Introduced in Senate
2010-02-19 To Judiciary
2010-02-19 Filed for introduction

Subjects


Code Citations

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West Virginia State Sources


Bill Comments

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