§ 33-15-37.1. Minimization of taxes — Estate planning.
(a) The superior or probate court, upon the petition of a conservator, limited guardian or guardian, other than the guardian of a minor, and after notice by publication as the court directs and other notice to all persons interested, may authorize the conservator, limited guardian or guardian to exercise any and all powers over the estate and business affairs of the ward which the ward could exercise if present and not under disability. The court may authorize the taking of such action, or the application of any funds as are not required for the ward’s own maintenance and support, in any fashion as the court shall approve as being in keeping with the ward’s wishes, so far as they can be ascertained, or which the conservator, guardian or limited guardian can demonstrate is in the best interest of the ward. In ascertaining and carrying out the ward’s wishes, or in determining which actions are in the ward’s best interests, the court may consider, but shall not be limited to minimization of current or prospective state or federal income, estate and inheritance taxes, and providing for gifts to charities, relatives and friends as would be likely recipients of donations or future inheritances from the ward.
(b) This action or application of funds may include, but shall not be limited to, the making of gifts, to the conveyance or release of the ward’s contingent and expectant interests in property including marital property rights, and any right of survivorship incident to joint tenancy or tenancy by the entirety, to the exercise or release of the ward’s powers as donee of a power of appointment, the making of contracts, the creation of revocable or irrevocable trusts of property of the ward’s estate which may extend beyond the ward’s disability or life and for which the ward may or may not be a beneficiary, the exercise of options of the ward to purchase securities or other property, the exercise of the ward’s right to elect options and to change beneficiaries under insurance and annuity policies, and the surrendering of policies for their cash value, the exercise of the ward’s right to an elective share in the estate of the ward’s deceased spouse, and the renunciation or disclaimer of any interest acquired by testate or intestate succession or by inter vivos transfer.
(c) The guardian, limited guardian or conservator in the petition shall briefly outline the action or application of funds for which approval is sought, the results expected to be accomplished thereby and the tax savings, if any, expected to accrue. The proposed action or application of funds may include gifts of the ward’s personal property or real estate. Gifts may be for the benefit of prospective legatees, devisees or heirs apparent of the ward, or may be made to individuals or charities in which the ward is believed to have an interest. The conservator, limited guardian or guardian shall also indicate in the petition that any planned disposition is consistent with the intentions of the ward insofar as they can be ascertained, or are otherwise in the best interest of the ward. If the ward’s intentions cannot be ascertained, the ward will be presumed to favor reduction in the incidence of the various forms of taxation, and the partial distribution of the ward’s estate during his or her lifetime, as provided in this section. The conservator, limited guardian or guardian shall not, however, be required to include as a beneficiary any person whom there is reason to believe would be excluded by the ward.
History of Section.P.L. 1982, ch. 306, § 1; P.L. 1992, ch. 493, § 3; P.L. 1996, ch. 110, § 9.
Structure Rhode Island General Laws
Title 33 - Probate Practice and Procedure
Chapter 33-15 - Limited Guardianship and Guardianship of Adults
Section 33-15-1. - Legislative intent.
Section 33-15-1.1. - Repealed.
Section 33-15-2. - Petition for appointment of a limited guardian or guardian.
Section 33-15-3. - Power of probate court to appoint limited guardians or guardians.
Section 33-15-4. - Limited guardianship.
Section 33-15-4.1. - Good Samaritan guardians.
Section 33-15-4.2. - Waiver of filing fees for good Samaritan guardianships.
Section 33-15-4.3. - No cash surety required.
Section 33-15-4.4. - Immunity of good Samaritan guardians.
Section 33-15-4.5. - Continuing duties of good Samaritan guardians.
Section 33-15-6. - Who may be appointed limited guardian or guardian.
Section 33-15-8. - Authority of limited guardian or guardian.
Section 33-15-8.1. - Temporary guardianship for specific purpose.
Section 33-15-10. - Appointment of temporary limited guardian or guardian.
Section 33-15-11. - Tenure of temporary limited guardian or guardian.
Section 33-15-12. - Powers of temporary limited guardian or guardian — Bond.
Section 33-15-13. - Recording of petition in land records — Disability to contract.
Section 33-15-14. - Expense of prosecuting or defending against petition.
Section 33-15-15. - Exemption of welfare agencies from costs and bond.
Section 33-15-16. - Guardian of estate of nonresident.
Section 33-15-18. - Removal of limited guardian or guardian or conservator — Resignation.
Section 33-15-19. - Inventory and appraisement of estate.
Section 33-15-20. - Statements of claims against estate.
Section 33-15-21. - Demands payable in future.
Section 33-15-22. - Addresses of creditors — Affidavit to support claim.
Section 33-15-23. - Notice of disallowance of claims.
Section 33-15-25. - Action on limited guardian’s or guardian’s bond.
Section 33-15-26. - Annual account.
Section 33-15-26.1. - Annual status report.
Section 33-15-27. - Allowances to limited guardian or guardians.
Section 33-15-31. - Application of personal property to debts — Priority of claims.
Section 33-15-32. - Sale or mortgage of real estate.
Section 33-15-33. - Sale of personal property.
Section 33-15-35. - Investment of surplus funds — Relief from bond requirements.
Section 33-15-36. - Powers of limited guardian or guardian with respect to corporate stock.
Section 33-15-37. - Support of dependents for whom ward has no legal obligation to provide.
Section 33-15-37.1. - Minimization of taxes — Estate planning.
Section 33-15-38. - Powers unimpaired by §§ 33-15-37 and 33-15-37.1.
Section 33-15-40. - Appeal to supreme court from proceedings under §§ 33-15-37 and 33-15-37.1.
Section 33-15-41. - Applicability of §§ 33-15-37 — 33-15-40.
Section 33-15-42. - Removal of property by nonresident guardian.
Section 33-15-43. - Order to resident guardian to deliver property to nonresident guardian.
Section 33-15-44. - Conservator for incompetent person — Disability to contract.
Section 33-15-45. - Conservator’s bond and inventory — Management and accounting.