Sec. 45a-483. (Formerly Sec. 45-94). Settlement of trust estate when beneficiary has been absent seven years.
Sec. 45a-483. (Formerly Sec. 45-94). Settlement of trust estate when beneficiary has been absent seven years. The trustee of any trust for the benefit of any person
who has been absent from his home and unheard of for seven years or more may settle
his account as such trustee in the court of probate having jurisdiction thereof. Upon the
order of the court, the trustee shall distribute such trust estate to the persons entitled to
the remainder thereof as determined by the court, and the trustee shall not thereafter be
liable to any such absent beneficiary, his heirs, executors, administrators or assigns in
any action for such trust estate or any interest therein or income thereof. A person shall
not be entitled to receive any portion of such estate from the trustee until such person
has filed in the court of probate a bond with surety to the acceptance of the court, payable
to the state, conditioned to return such trust estate to the trustee or his successor on the
reappearance of the person presumed to be dead within thirteen years from the date of
such order authorizing distribution. After the expiration of such thirteen-year period,
such person entitled to the remainder shall not be liable to any such absent beneficiary,
his heirs, executors, administrators or assigns in any action for such trust estate or any
interest therein or income thereof.
(1949 Rev., S. 6891; P.A. 80-476, S. 222.)
History: P.A. 80-476 rephrased provisions; Sec. 45-94 transferred to Sec. 45a-483 in 1991.