Bill Summary for S 50 (2021)

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Summary date: 

Jun 8 2021

Bill Information:

View NCGA Bill Details2021
Senate Bill 50 (Public) Filed Wednesday, February 3, 2021
AN ACT TO MAKE VARIOUS CHANGES TO THE GENERAL STATUTES REGARDING ESTATES AND TRUSTS.
Intro. by Daniel, Galey.

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Bill summary

House committee substitute amends the 3rd edition as follows.

Part I.

Amends proposed 36C-4C-405 concerning a declaration by a court declaring a revocable trust to be valid and the subsequent bar to contesting the revocable trust's validity. Adds a new subsection to specify that the new Article 4C does not preclude a party from seeking relief from a judgement pursuant to Rule 60 of the NC Rules of Civil Procedure, including without limitation, for fraud upon the court. 

Adds a new section to the act, amending GS 28A-2B-4 concerning a declaration by a court declaring a will or codicil to be valid and the subsequent bar to filing a caveat to the will or codicil. Deletes the provision which allows a party bound by the judgement to make a motion that the party be permitted to file a caveat if that party shows by clear and convincing evidence that before and during the hearing the petitioner was subject to financial or physical duress or coercion which was significant enough that the petitioner would not have reasonably disclosed it at the hearing. Adds a new subsection to the statute, mirroring the subsection added to proposed GS 36C-4C-405 concerning revocable trusts, to specify that Article 2B does not preclude a party from seeking relief from a judgement pursuant to Rule 60 of the NC Rules of Civil Procedure, including without limitation, for fraud upon the court. 

Changes the act's long title.