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AL HB546
Bill
Status
5/20/2013
Primary Sponsor
John Merrill
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AI Summary
HB546 Summary
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Amends Alabama Family Trust law by deleting the definition of "donor" and replacing references to "donor" with "contributor" or "settlor" throughout the statute.
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Adds definition of "settlor" as a person who establishes an AFT Trust account for a life beneficiary.
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Expands definition of "contributor" to mean any person who makes a donation directly to the AFT Corporation or the AFT Charitable Trust.
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Requires that upon death of a life beneficiary, remaining account amounts be first dispersed to reimburse the State of Alabama and other states for medical assistance paid on behalf of the beneficiary before any remaining balance is distributed per the settlor's designation.
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Effective the first day of the third month following passage and approval by the Governor.
Legislative Description
Alabama Family Trust, definitions of contributor and settlor added, references to donor replaced with defined terms contributor or settlor, reimbursement upon death of life beneficiary to other jurisdictions for certain public benefits, Secs. 38-9B-2, 38-9B-3, 38-9B-5, 38-9B-6, 38-9B-7 am'd.
Alabama Family Trust
Last Action
Forwarded to Governor on May 20, 2013 at 10:25 p.m. on May 20, 2013.
5/20/2013