Substitute Senate Bill No. 272, known as Public Act No. 24-104, is a legislative proposal that establishes the "Connecticut Uniform Trust Decanting Act," which will take effect on January 1, 2025. The act provides a framework for the decanting of trusts, a process that allows an authorized fiduciary to distribute property from one trust to a second trust or to modify the terms of the first trust. It defines key terms related to trusts and specifies the types of trusts to which the act applies, excluding trusts held solely for charitable purposes or statutory trusts created under chapter 615 of the general statutes. The bill also includes detailed provisions for the exercise of decanting power, notice requirements, and protections for trustees. It does not mention specific insertions or deletions to current law.

The bill further addresses the jurisdiction and powers of the Superior Court and Probate Courts concerning trusts, specifying that the Superior Court has original jurisdiction over all matters relating to inter vivos trusts, while the Probate Courts have concurrent original jurisdiction on a range of trust-related issues. It includes a deletion of the word "and" and an insertion of a new item (17) that allows the Probate Courts to hear and decide petitions related to the exercise of a decanting power. Additionally, the bill repeals and replaces Section 45a-106a of the 2024 supplement to the general statutes, setting the fee for various Probate Court filings at two hundred fifty dollars and introducing a new fee for filing a petition to exercise the decanting power under section 9 of the act at three hundred dollars. The bill was approved on June 4, 2024.

Statutes affected:
Raised Bill:
JUD Joint Favorable Substitute:
File No. 503:
Public Act No. 24-104: