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2001 SESSION
HB 1729 Nonprobate transfers on death.
Introduced by: William J. Howell | all patrons ... notes | add to my profiles | history
SUMMARY AS PASSED:
Nonprobate transfers on death. Specifies that a provision for a nonprobate transfer on death in an insurance policy, contract of employment, bond, mortgage, promissory note, certificated or uncertificated security, account agreement, custodial agreement, deposit agreement, compensation plan, pension plan, individual retirement plan, employee benefit plan, trust, conveyance, deed of gift, marital property agreement, or other written instrument of a similar nature is nontestamentary. The bill clarifies recent court decisions on the subject. The bill is a modified version of Section 6-101 of the Uniform Probate Code.
SUMMARY AS INTRODUCED:
Nonprobate transfers on death. Specifies that a provision for a nonprobate transfer on death in an insurance policy, contract of employment, bond, mortgage, promissory note, certificated or uncertificated security, account agreement, custodial agreement, deposit agreement, compensation plan, pension plan, individual retirement plan, employee benefit plan, trust, conveyance, deed of gift, marital property agreement, or other written instrument of a similar nature is nontestamentary. The bill clarifies recent court decisions on the subject. The bill is a modified version of Section 6-101 of the Uniform Probate Code.