DE SB155

Amends Delaware's Qualified Dispositions in Trust Act to clarify that a transferor cannot serve as trustee of a trust to maintain qualified disposition status, though they may serve as an investment adviser under specific conditions.

Permits transfers to trusts to qualify as "qualified dispositions" even when the transferor retains a limited lifetime power of appointment or a lifetime general power of appointment restricted to reimbursing the transferor for income taxes attributable to trust income.

Clarifies that a transferor's right to remove and replace trustees and advisers includes the right to appoint additional trustees and advisers.

Corrects cross-references to align with Treasury Regulations regarding qualified personal residence trusts and grantor-retained annuity trusts as permissible qualified dispositions.

Revises Section 3592 to ensure that incomplete disposition of trust assets does not prevent a transfer from qualifying as a qualified disposition under Delaware asset protection trust law.