DE HB164

Clarifies that retirement plan exemptions under Delaware Code § 4915 apply to inherited IRAs and Roth IRAs, addressing concerns raised by the Supreme Court's Clark v. Rameker decision.

Establishes pre-mortem will validation procedure allowing testators to notify beneficiaries and potential contestants in writing, with a 120-day period to challenge the will's validity before the testator's death.

Creates similar pre-mortem validation procedure for exercises of powers of appointment by written instruments other than wills, with 120-day challenge period and 2-year post-death deadline.

Modifies fiduciary investment and trust administration rules including: clarifying disclosure requirements for affiliated investments, expanding definitions of investment decisions, permitting trust mergers and decanting, establishing Delaware as place of administration safe harbor, and protecting attorney-client privilege for fiduciary counsel.

Amends trustee accounting requirements for testamentary trusts, permits non-corporate trustees to terminate small trusts under specified conditions, and clarifies that damages for breach of trust are limited to monetary relief as defined in the statute.