§ 45a-487o — No retained interest of transferor.

A qualified disposition shall be subject to sections 45a-487j to 45a-487s, inclusive, notwithstanding a transferor's retention of any of the powers and rights described in section 45a-487n and the transferor's service as investment director or advisor pursuant to section 45a-487 l. The transferor shall have only such powers and rights as are conferred by the trust instrument. Except as provided in the trust instrument, and permitted by section 45a-487 l and in section 45a-487n, a transferor has no rights or authority with respect to the property that is the subject of a qualified disposition or the income therefrom, and any agreement or understanding purporting to grant or permit the retention of any greater rights or authority is void.

Legislative History

(P.A. 19-137, S. 104.) History: P.A. 19-137 effective January 1, 2020.