Connecticut § 12-345 - Revocable trusts.
Full text of Connecticut Connecticut General Statutes § 12-345 — Revocable trusts., with citation guidance and answers to common questions.
§ 12-345. Revocable trusts.
Sec. 12-345. Revocable trusts. A transfer of property by deed of trust wherein the settlor reserved to himself, or to himself and others not beneficiaries, powers of revocation, alteration or amendment, upon the exercise of which the property might revest in him, shall, upon the death of the settlor, be taxable to the extent of the value of the property subject to such powers and with respect to which such powers remained unexercised. The word “property”, as used in this section, shall not include the proceeds of any policy of life, accident or health insurance, payable to a named beneficiary or beneficiaries, or the executors of the will or the administrators of the estate of the insured, nor the proceeds of any policy of war risk insurance, United States government life insurance or national service life insurance.
(1949 Rev., S. 2024; September, 1957, P.A. 11, S. 49; 1969, P.A. 784, S. 2.)
History: 1969 act excluded from consideration as property proceeds of policy payable to executors or administrators, reversing previous provision.
Cited. 122 C. 122. Purpose of section to clarify the law, not to bring within scope of statutes transfers not otherwise taxable. 129 C. 185.
Frequently Asked Questions About Connecticut § 12-345
What does Connecticut General Statutes § 12-345 cover?
Section 12-345 ("Revocable trusts.") is part of the Connecticut General Statutes, the codified statutory law of Connecticut. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Connecticut § 12-345?
A common citation format is "Connecticut General Statutes § 12-345" (Connecticut). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Connecticut law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Connecticut official source linked on this page or consult a licensed Connecticut attorney.
How does Connecticut § 12-345 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Connecticut can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Connecticut.