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CA SB801
Bill
AI Summary
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Enacts the California Uniform Directed Trust Act to regulate "directed trusts" where a non-trustee person (trust director) exercises power over trust administration.
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Requires consent of public administrator, public guardian, or public conservator before appointment as trust director or directed trustee.
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Establishes that directed trustees must take reasonable action to comply with trust director decisions, except when compliance would constitute willful misconduct.
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Exempts health care providers acting in their professional capacity from duties and liabilities under the act when exercising trust director powers.
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Applies to trusts with principal place of administration in California as of January 1, 2024, and specifies duties, fiduciary responsibilities, and liability limitations for trust directors and directed trustees.
Legislative Description
California Uniform Directed Trust Act.
Last Action
Chaptered by Secretary of State. Chapter 721, Statutes of 2023.
10/10/2023