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Committee adopts substitute and hears technical case for Unitrust Act and perpetuities fixes
Summary
The House Judiciary Committee adopted a substitute to House Bill 4034 and heard sponsor and technical testimony on HB 4033 (Unitrust Act) and HB 4034 (perpetuities technical fixes), with proponents saying the bills modernize trustee rules without forcing trustees to change practices.
The House Judiciary Committee adopted substitute H‑1 to House Bill 4034 and heard testimony on two related probate measures aimed at modernizing trustee law.
Representative Wozniak introduced House Bill 4033, the Unitrust Act, and House Bill 4034, described as technical fixes related to the statutory rule against perpetuities. "Both bills were introduced last term and have overwhelming support," Wozniak said during his opening remarks.
Following the sponsor’s introduction, the committee took a…
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