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HB4033 • 2026

Probate: trusts; procedures relating to the administration of unitrusts and income trusts; provide for. Creates new act.

Probate: trusts; procedures relating to the administration of unitrusts and income trusts; provide for. Creates new act.

Active

The official status still shows this bill as active or still awaiting another formal step.

Sponsor
Douglas Wozniak (District 59), Timothy Beson (District 96), Brian BeGole (District 71), Joseph Aragona (District 60)
Last action
2025-04-29
Official status
REFERRED TO COMMITTEE ON CIVIL RIGHTS, JUDICIARY, AND PUBLIC SAFETY
Effective date
Not listed

Plain English Breakdown

Official source material is limited, providing only a brief description of the bill's intent without detailed specifics.

Rules for Trusts in Probate

This law sets rules about how to manage unitrusts and income trusts when someone dies.

What This Bill Does

  • Creates new rules for managing unitrusts and income trusts after a person passes away.

Who It Names or Affects

  • People who have unitrusts or income trusts in their wills.
  • Trust administrators responsible for managing these trusts after someone dies.
  • Courts that handle probate cases involving unitrusts and income trusts.

Terms To Know

unitrust
A type of trust where the trustee must pay a fixed percentage of the trust's value each year to the beneficiary.
income trust
A trust that distributes income from investments to beneficiaries, rather than principal or assets.

Limits and Unknowns

  • The bill does not provide specific details on how these trusts should be managed.
  • It is unclear what the exact procedures will be until more information is provided by the committee.

Amendments

These notes stay tied to the official amendment files and metadata from the legislature.

H-1

10

substitute (H-1) adopted

Plain English: substitute (H-1) adopted 10

  • The official amendment file could not be read automatically during the last sync, so only the official amendment metadata is shown right now.

Bill History

  1. 2025-04-29 SJ 37 Pg. 374

    PASSED BY HOUSE WITH IMMEDIATE EFFECT

  2. 2025-04-29 SJ 37 Pg. 374

    REFERRED TO COMMITTEE ON CIVIL RIGHTS, JUDICIARY, AND PUBLIC SAFETY

  3. 2025-04-23 HJ 38 Pg. 398

    read a third time

  4. 2025-04-23 HJ 38 Pg. 398

    substitute (H-1) adopted

  5. 2025-04-23 HJ 38 Pg. 398

    passed; given immediate effect Roll Call #65 Yeas 106 Nays 0 Excused 0 Not Voting 4

  6. 2025-04-23 HJ 38 Pg. 398

    transmitted

  7. 2025-04-22 HJ 37 Pg. 387

    read a second time

  8. 2025-04-22 HJ 37 Pg. 387

    placed on third reading

  9. 2025-04-16 HJ 35 Pg. 343

    reported with recommendation without amendment

  10. 2025-04-16 HJ 35 Pg. 343

    referred to second reading

  11. 2025-01-29 HJ 9 Pg. 77

    bill electronically reproduced 01/28/2025

  12. 2025-01-28 HJ 8 Pg. 70

    introduced by Representative Rep. Douglas Wozniak

  13. 2025-01-28 HJ 8 Pg. 70

    read a first time

  14. 2025-01-28 HJ 8 Pg. 70

    referred to Committee on Judiciary

Official Summary Text

Probate: trusts; procedures relating to the administration of unitrusts and income trusts; provide for. Creates new act.