GENERAL ASSEMBLY OF NORTH CAROLINA

1985 SESSION

CHAPTER 855

SENATE BILL 936

AN ACT TO PROVIDE THAT WHEN A TRUST UNDER A WILL IS ADMINISTERED, NO COSTS ARE ASSESSED ON PERSONALTY RECEIVED IF THE ESTATE OF A DECEDENT HAD ALREADY PAID COSTS ON THE PERSONALTY.

The General Assembly of North Carolina enacts:

Section 1.  G.S. 7A-307(a) is amended by adding a new subdivision to read:

"(2a)    Notwithstanding subdivision (2) of this subsection, the fee of forty cents (40c) per one hundred dollars ($100.00), or major fraction, of the gross estate shall not be assessed on personalty received by a trust under a will when the estate of the decedent was administered under Chapters 28 or 28A of the General Statutes. Instead, a fee of ten dollars ($10.00) shall be assessed on the filing of each annual and final account."

Sec. 2.  This act is effective upon ratification and applies to personalty received by trusts under a will on or after that date.

In the General Assembly read three times and ratified, this the 1st day of July, 1986.