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First Substitute S.B. 121

Senator John L. Valentine proposes the following substitute bill:


             1     
UTAH UNIFORM PROBATE CODE

             2     
AMENDMENTS

             3     
2010 GENERAL SESSION

             4     
STATE OF UTAH

             5     
Chief Sponsor: John L. Valentine

             6     
House Sponsor: Brian S. King

             7     
             8      LONG TITLE
             9      General Description:
             10          This bill allows a personal representative to be appointed for the purpose of
             11      representing a deceased person in any proceeding to establish liability when the
             12      deceased person was protected by liability insurance and makes changes to
             13      accommodate the repeal of the Federal Estate Tax.
             14      Highlighted Provisions:
             15          This bill:
             16          .    removes a three-year limitation to appoint a personal representative when the
             17      deceased person was protected by liability insurance; and
             18          .    creates a stopgap provision to alleviate difficulties caused by the repeal of the
             19      Federal Estate Tax for taxable transfers occurring during 2010.
             20      Monies Appropriated in this Bill:
             21          None
             22      Other Special Clauses:
             23          This bill provides retrospective operation to January 1, 2010 for Section 75-3-917 only.
             24      Utah Code Sections Affected:
             25      AMENDS:


             26          75-3-803, as last amended by Laws of Utah 1992, Chapter 179
             27      ENACTS:
             28          75-3-917, Utah Code Annotated 1953
             29     
             30      Be it enacted by the Legislature of the state of Utah:
             31          Section 1. Section 75-3-803 is amended to read:
             32           75-3-803. Limitations on presentation of claims.
             33          (1) All claims against a decedent's estate which arose before the death of the decedent,
             34      including claims of the state and any subdivision of it, whether due or to become due, absolute
             35      or contingent, liquidated or unliquidated, founded on contract, tort, or other legal basis, if not
             36      barred earlier by other statute of limitations, are barred against the estate, the personal
             37      representative, and the heirs and devisees of the decedent, unless presented within the earlier of
             38      the following dates:
             39          (a) one year after the decedent's death; or
             40          (b) within the time provided by Subsection 75-3-801 (2) for creditors who are given
             41      actual notice, and where notice is published, within the time provided in Subsection
             42      75-3-801 (1) for all claims barred by publication.
             43          (2) In all events, claims barred by the nonclaim statute at the decedent's domicile are
             44      also barred in this state.
             45          (3) All claims against a decedent's estate which arise at or after the death of the
             46      decedent, including claims of the state and any of its subdivisions, whether due or to become
             47      due, absolute or contingent, liquidated or unliquidated, founded on contract, tort, or other legal
             48      basis are barred against the estate, the personal representative, and the heirs and devisees of the
             49      decedent, unless presented as follows:
             50          (a) a claim based on a contract with the personal representative within three months
             51      after performance by the personal representative is due; or
             52          (b) any other claim within the later of three months after it arises, or the time specified
             53      in Subsection (1)(a).
             54          (4) Nothing in this section affects or prevents:
             55          (a) any proceeding to enforce any mortgage, pledge, or other lien upon property of the
             56      estate;


             57          (b) to the limits of the insurance protection only, any proceeding to establish liability of
             58      the decedent or the personal representative for which he is protected by liability insurance; or
             59          (c) collection of compensation for services rendered and reimbursement for expenses
             60      advanced by the personal representative or by the attorney or accountant for the personal
             61      representative of the estate.
             62          (5) If a personal representative has not been timely appointed in accordance with this
             63      chapter, one may be appointed for the limited purposes of Subsection (4)(b) for any claim
             64      timely brought against the decedent.
             65          Section 2. Section 75-3-917 is enacted to read:
             66          75-3-917. Certain formula clauses to be construed to refer to federal estate and
             67      generation-skipping transfer tax rules applicable to estates of decedents dying after
             68      December 31, 2009.
             69          (1) A will or trust of a decedent who dies after December 31, 2009 and before January
             70      1, 2011, that contains a formula referring to the "unified credit," "estate tax exemption,"
             71      "applicable exemption amount," "generation-skipping transfer tax exemption" or "GST
             72      exemption," or that measures a share of an estate or trust based on the amount that can pass
             73      free of federal estate or generation-skipping transfer taxes, or that is otherwise based on a
             74      similar provision of federal estate tax or generation-skipping transfer tax law, shall be
             75      considered to refer to the federal estate and generation-skipping transfer tax laws as they
             76      applied with respect to estates of decedents dying on December 31, 2009.
             77          (a) This provision may not apply with respect to a will or trust executed or amended
             78      after December 31, 2009, or that manifests an intent that a contrary rule shall apply if the
             79      decedent dies on a date on which there is no then-applicable federal estate or
             80      generation-skipping transfer tax.
             81          (b) The reference to January 1, 2011 in Subsection (1) shall, if the federal estate and
             82      generation-skipping transfer tax becomes effective before that date, refer instead to the first
             83      date on which the tax becomes legally effective.
             84          (2) A proceeding to determine whether the decedent intended that the references under
             85      Subsection (1) be construed with respect to the law as it existed after December 31, 2009, shall
             86      be filed within 12 months of the date of death of the testator or grantor. It may be filed by the
             87      personal representative or any affected beneficiary under the will or other instrument.


             88          Section 3. Retrospective operation.
             89          Section 73-3-917 of this bill has retrospective operation to January 1, 2010.


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