HF 2484: Relating to trusts, including optional notices to creditors when a will has been admitted to probate without administration and the trust is the beneficiary of the estate, trust accounting, specific powers of a trustee, and representation of holders of power and similar interests

What it does

This bill relates to trusts, including optional notices to creditors when a will has been admitted to probate without administration and the trust is the beneficiary of the estate, trust accounting, specific powers of a trustee, and representation of holders of power and similar interests. The bill provides optional language that may be included in a notice given to creditors, heirs, and surviving spouses for when a decedent’s will has been admitted to probate without administration. If such notice is provided, creditors must mail proof of claims to the trustee within four months or else be barred from asserting such claims.

Lobbying · 3 for, 0 against

For: Iowa State Bar Association; Patterson Law Firm LLP; The Iowa Academy of Trust and Estate Counsel

In plain words

1. February 18, 2022Filed in the House
2. March 14, 2022Passed the House, 93–0
3. March 15, 2022Arrived in the Senate
4. March 30, 2022Took the place of SF 2316 on the Senate floor (the same legislation)
5. March 30, 2022Passed the Senate, 48–0
6. May 23, 2022Sent to the Governor
7. May 23, 2022Signed into law