There were 831 press releases posted in the last 24 hours and 345,202 in the last 365 days.

Senate Bill 1034 Printer's Number 1357

PENNSYLVANIA, January 26 - to the provisions of inter vivos trusts.] Rules of construction

and interpretation.

Unless the terms of the trust contain contrary rules of

construction or interpretation, the rules in section 2514

(relating to rules of interpretation) and other judicial rules

of interpretation that apply to wills and testamentary trusts

shall be applied in interpreting the terms of all inter vivos

trusts, as appropriate. Whenever a provision in section 2514

refers to a "will," "estate," "testator" or similar term

relevant primarily to wills and estates or a taker under a will

or estate, the term shall be modified to mean "terms of the

trust," "trust," "settlor," "trust beneficiary" or a similar

term to reflect the application of the principles of those

provisions to an inter vivos trust.

Section 5. Title 20 is amended by adding sections to read:

§ 7710.3. Modification by circumstances.

(a) Circumstances.--Revocable trusts shall be modified upon

the occurrence of any of the following circumstances, among

others:

(1) Divorce or pending divorce.--Any provision in a

settlor's revocable trust in favor of or relating to the

settlor's spouse shall become ineffective for all purposes,

unless it appears from the revocable trust that the provision

was intended to survive a divorce, if the settlor after

making the revocable trust:

(i) is divorced from such spouse; or

(ii) dies domiciled in this Commonwealth during the

course of divorce proceedings, no decree of divorce has

been entered pursuant to 23 Pa.C.S. § 3323 (relating to

decree of court) and grounds have been established as

20220SB1034PN1357 - 5 -

1

2

3

4

5

6

7

8

9

10

11

12

13

14

15

16

17

18

19

20

21

22

23

24

25

26

27

28

29

30

Legal Disclaimer:

EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.