Kentucky HB 288: AN ACT relating to property and trusts. Create a new section of Chapter 386 and provide definitions related to the creation of a community property trust; provide the requirements for the creation of a community property trust by spouses; provide what spouses may agree on and provide in writing related to community property trusts; enumerate what happens to a community property trust upon the death of a spouse; amend KRS 141.010 to provide federal tax guidelines related to community property trusts; amend KRS 386.175 to provide that a second trust may be created from an original trust whose terms have been modified pursuant to KRS 386.175; create a new section of KRS Chapter 396 to provide that certain creditor's claims are barred six months after the appointment of a personal representative after the decedent's death; amend KRS 396.011 to conform.

Status: Posted in committee (as of 2018-02-05)

State: Kentucky · Session: 2018RS · Bill: HB 288

Sponsors: C. Harris

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