Existing law provides for the creation and administration of trusts, including irrevocable trusts. Existing law makes invalid provisions of a trust that restrict the transfer of the settlor's interest if the settlor of the trust is a beneficiary. Existing law also authorizes the creditors of a settlor who is also a beneficiary of the trust to reach the amount of income or principal of the trust that the trustee could, at their discretion, pay to or for the benefit of the settlor under the trust instrument, as specified.
California AB 1866 (20212022) — Irrevocable trusts: limitations.
Existing law provides for the creation and administration of trusts, including irrevocable trusts. Existing law makes invalid provisions of a trust that restrict the transfer of the settlor's interest if the settlor of the trust is a beneficiary. Existing law also authorizes the creditors of a settlor who is also a beneficiary of the trust to reach the amount of income or principal of the trust that the trustee could, at their discretion, pay to or for the benefit of the settlor under the trust instrument, as specified.
Version chain
The bill's text revisions, in order — the diff chain from filing to enrollment.