Kansas HB2590 enacts the Kansas Community Property Trust Act, authorizing community property trusts during marriage and amending the Kansas Uniform.

Kansas HB2590, known as the Kansas Community Property Trust Act, allows married couples in Kansas to establish community property trusts during their marriage. These trusts maintain the community property character of the assets within them. The act also amends the Kansas Uniform Trust Code to permit trustees to reimburse settlors of grantor trusts, authorize designated representatives for trusts, and allow governing instruments to modify certain general rules for fiduciaries, trusts, and trust administration.

Kansas HB2590 enacts the Kansas Community Property Trust Act, authorizing community property trusts during marriage and amending the Kansas Uniform.

Kansas HB2590, known as the Kansas Community Property Trust Act, allows married couples in Kansas to establish community property trusts during their marriage. These trusts maintain the community property character of the assets within them. The act also amends the Kansas Uniform Trust Code to permit trustees to reimburse settlors of grantor trusts, authorize designated representatives for trusts, and allow governing instruments to modify certain general rules for fiduciaries, trusts, and trust administration.