SB 1025 - 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.

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

This act is identical to SB 170 (2017).


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