Bill Summary for S 197 (2021-2022)

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Bill: GSC TRUSTS & ESTATES AMENDMENTS.

Summary date: 

Jul 8 2021
S.L. 2021-85

Bill Information:

View NCGA Bill Details2021
Senate Bill 197 (Public) Filed Monday, March 8, 2021
AN ACT TO (I) REMOVE THE LOCATION REQUIREMENT FOR HOLOGRAPHIC WILLS TO ALIGN NORTH CAROLINA WITH ALL OTHER STATES RECOGNIZING HOLOGRAPHIC WILLS, (II) UPDATE THE DEFINITIONS OF "TERMS OF A TRUST" AND "TRUST INSTRUMENT" AND REVISE THE ARTICLE ON POWER HOLDERS OF TRUSTS, AND (III) CLARIFY THE TRUST EXCLUSION TO THE RULE AGAINST PERPETUITIES AND MAKE TECHNICAL CHANGES IN THE SURROUNDING LANGUAGE, AS RECOMMENDED BY THE GENERAL STATUTES COMMISSION.
Intro. by Edwards, Galey.

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Bill summary

AN ACT TO (I) REMOVE THE LOCATION REQUIREMENT FOR HOLOGRAPHIC WILLS TO ALIGN NORTH CAROLINA WITH ALL OTHER STATES RECOGNIZING HOLOGRAPHIC WILLS, (II) UPDATE THE DEFINITIONS OF "TERMS OF A TRUST" AND "TRUST INSTRUMENT" AND REVISE THE ARTICLE ON POWER HOLDERS OF TRUSTS, AND (III) CLARIFY THE TRUST EXCLUSION TO THE RULE AGAINST PERPETUITIES AND MAKE TECHNICAL CHANGES IN THE SURROUNDING LANGUAGE, AS RECOMMENDED BY THE GENERAL STATUTES COMMISSION. SL 2021-85. Enacted July 8, 2021. Effective July 8, 2021, except as otherwise provided.