On Apr. 10, 2025, IDNA LEG reported governor signed HB 1088, effective Jul. 1, 2025.
On Apr. 3, IDNA LEG passed bill on requirements related to probate.
IDNA LEG passed HB 1088 on probate matters, including creditors, distributions.
Amends IDNA LEG 29-1-7-7 (administration notice) adds clarifications, requirements.
Bill Provisions
Personal representative must serve notice to creditor of decedent within one month.
If notice served on creditor more than one month after notice published, personal representative must file, serve new proposed notice with the clerk of court for creditor.
Creditor served notice more than one month after the notice is published must file a claim against the estate within two months of the date of service of the notice.
Provides template for notice served more than one month after notice is published.
Allows personal representative of an unsupervised estate, trustee of a trust to distribute decedent interest in retirement plan, retirement account without court order.
Defines a direct postmortem transfer as a transfer of an asset to a testamentary trust established in a will that is admitted to probate if the will meets certain conditions.
Establishes that effective date of testamentary trust is the date of decedent's death.
Provides that power of attorney to take actions on tax matters does not terminate upon death of the principal, but terminates on appointment of personal representative.
Legislative History
On Jan. 8, 2025, bill introduced in House; on Mar. 27, 2025, bill passed in House.
On Feb. 18, 2025, bill introduced in Senate; on Apr. 3, 2025, bill passed in Senate.
Effectiveness
If approved by the governor, HEA 1088 becomes effective on Jul. 1, 2025.
Apr. 2025 IDNA Governor Approval
On Apr. 10, 2025, IDNA LEG reported governor signed HB 1088, effective Jul. 1, 2025.
Regulators
IDNA LEG
Entity Types
Bank; Corp; Fiduciary
Reference
Bill, 4/10/2025; Bill HEA1088, 4/3/2025; Citation: IDNA LEG 29-1-7-7;
