Bill Status of SB2050  95th General Assembly

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Short Description:  NONPROBATE TRANSFER ACT

Senate Sponsors
Sen. Carole Pankau

Last Action

Date	Chamber	Action
1/13/2009	Senate	Session Sine Die

Statutes Amended In Order of Appearance

New Act

Synopsis As Introduced
Creates the Nonprobate Transfer Act. Authorizes a transferring entity to act as an agent for an owner of property subject to a nonprobate transfer. Provides that a nonprobate transfer is nontestamentary and is exempt from the requirements of the Probate Act of 1975 and lists the provisions allowed for the nonprobate transfer. Outlines the transfer, registration, and revocation procedures for nonprobate transfers. Provides that prior to the death of the owner, a beneficiary shall have no rights in the property by reason of the beneficiary designation. Provides that, if a beneficiary disclaims, in whole or in part, the nonprobate transfer, then the disclaimant is treated as having predeceased the owner, unless the beneficiary designation provides otherwise. Disqualifies a beneficiary designation in the event that it is procured by fraud, duress, or undue influence. Sets out rules. Provides that recipients of a recoverable transfer shall pay a pro rata share to cover statutory allowances and claims due by the estate.

Actions 

Date	Chamber	Action
2/7/2008	Senate	Filed with Secretary by Sen. Carole Pankau
2/7/2008	Senate	First Reading
2/7/2008	Senate	Referred to Rules
2/14/2008	Senate	Assigned to Judiciary Civil Law
2/21/2008	Senate	Held in Judiciary Civil Law
2/28/2008	Senate	Held in Judiciary Civil Law
3/6/2008	Senate	Held in Judiciary Civil Law
3/13/2008	Senate	Held in Judiciary Civil Law
3/14/2008	Senate	Rule 3-9(a) / Re-referred to Rules
1/13/2009	Senate	Session Sine Die