SB 2685

RELATING TO TRUSTS AND ESTATES

By Senator(s) MIZUGUCHI (BR)

Companion Bill: HB 2646

Subjects: Judiciary

Keywords: DEPARTMENT OF BUDGET AND FINANCE, GUARDIANS AND TRUSTEES, PROBATE LAW AND PRACTICE, TAXATION

Report Title: Probate

Description: Authorizes trustees to split a trust into separate trusts. Reroutes unclaimed assets to the State rather than to the guardian. Apportions the expenses of the fiduciary with the tax among the persons interested in the estate. Raises threshold for classification as a small estate from $60,000 to $100,000.

 1-25-00        S Introduced and passed First Reading                      
 1-26-00        S Referred to 1. JDC 2. WAM                                
 1-28-00        S Bill scheduled to be heard by JDC on 02-03-00 at
                  9:00 a.m. in conference room 229
 2- 3-00        S The measure is deferred until 02-04-00 at 9:00 a.m.         
                  in conference room 229.
 2- 4-00        S The committee on JDC recommends that the measure be         
                  PASSED, UNAMENDED.
 2- 4-00        S The votes in JDC were as follows: 5 Ayes: Senator(s)        
                  Chumbley, Matsunaga, Chun Oakland, Sakamoto, Tanaka;        
                  Ayes with reservations: Senator(s) ; none Noes:
                  Senator(s) ; and 2 Excused: Senator(s) Ihara,
                  Anderson
 2-14-00        S Reported from JDC (Stand. Com. Rep. No. 2083) with
                  recommendation of passage on Second Reading and
                  referral to WAM
 2-14-00        S Report adopted; Passed Second Reading and referred
                  to WAM.
 2-28-00        S Bill scheduled for decision making by WAM on
                  03-01-00 at 6:00 p.m. in conference room 211.
 3- 2-00        S The committee on WAM recommends that the measure be         
                  PASSED, UNAMENDED.
 3- 2-00        S The votes in WAM were as follows: 11 Ayes:
                  Senator(s) Fukunaga, Levin, Buen, Chun, Chun
                  Oakland, M. Ige, Iwase, Kawamoto, Nakata, Tam,
                  Taniguchi; Ayes with reservations: Senator(s) ; none        
                  Noes: Senator(s) ; and 2 Excused: Senator(s) D. Ige,        
                  Anderson
 3- 3-00        S Reported from WAM (Stand. Com. Rep. No. 2544) with
                  recommendation of passage on Third Reading
 3- 3-00        S 24 hours notice 03-07-00                                 
 3- 7-00        S Report adopted; Passed Third Reading. Ayes, 25. 
                  Noes, none.  Excused, none.
 3- 7-00        S Transmitted to House                                     
 3- 7-00        H Received from Senate (Sen. Com. No. 232)                 
 3- 9-00        H Introduced and passed First Reading                      
 3- 9-00        H Referred to the committees on 1. JHA 2. FIN ,
                  referral sheet 29