Connecticut House Bill HB05341

Connecticut 2023 Regular Session

• Introduced: 1/13/23
• Refer: 1/13/23

Caption

An Act Concerning The Disclosure Of Property Held In Trust By The Executor Of A Will.

Impact

The implications of HB 5341 on state laws include a more rigorous accounting process for assets subject to probate. By mandating that executors disclose trusts that might otherwise be obscured in the absence of formal requirements, the bill aims to mitigate potential conflicts or disputes arising from undisclosed assets. This change is particularly significant as it aligns the handling of trusts with existing probate procedures, potentially minimizing uncertainty for beneficiaries and creditors alike.

Summary

House Bill 5341 aims to amend Chapter 802b of the general statutes to require executors of wills to file a copy of any trust containing real or personal property that is not delineated in the will with the Probate Court. The bill intends to enhance the transparency and accountability of estate management by ensuring all assets held in trust by a decedent are properly disclosed and accounted for during the probate process. This change is expected to facilitate a more comprehensive understanding of a decedent's financial situation and ensure that all claims against the estate can be addressed appropriately.

Contention

Notable points of contention regarding the bill may arise around privacy concerns associated with the disclosure of trusts. Opponents might argue that requiring executors to file this information could infringe upon the privacy of the decedent and the subsequent beneficiaries. Additionally, some might raise questions about the administrative burden placed on executors, especially in instances where large or complex trusts are involved. Advocates, however, contend that the benefits of increased accountability and transparency far outweigh these concerns, arguing that such measures will ultimately serve the best interests of all parties involved.