S50 - Estate Planning Law Changes. (SL 2021-53)

Overview: S.L. 2021-53 does the following:

• Permits the settlor of a revocable trust to seek a judicial determination that the trust is valid.
• Permits the clerk of superior court to authorize single transactions benefiting a minor or other incompetent without appointing a guardian.
• Updates venue and procedural rules governing estate proceedings and trust proceedings.
• Updates the North Carolina Uniform Powers of Appointment Act to broaden the list of permissible appointees for holders of a nongeneral power of appointment.

Parts I, II, and III of the act became effective October 1, 2021, and apply to proceedings initiated on or after that date. The remainder of the act became effective when it became law. Please see the summary for more information on dates of application for Part IV.