SB 170
Modifies provisions regarding qualified spousal trusts
LR Number:
Last Action:
1/11/2017 - Second Read and Referred S Judiciary and Civil and Criminal Jurisprudence Committee
Journal Page:
Calendar Position:
Effective Date:
August 28, 2017

Current Bill Summary

SB 170 - This act provides that a qualified spousal trust may be revoked by one settlor after the death or incapacity of the other. Property in a qualified spousal trust is exempt from the claims of a separate creditor of either settlor, but not from the claims of the settlors' joint creditors.

Upon the death of a settlor, the trust property may be held in or transferred to the surviving settlor's separate share of the trust, as specified by the trust instrument or titling of the property.