Uniform Trust Code: Difference between revisions
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==Contents== |
==Contents== |
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The Uniform Trust Code consists of eleven articles:<ref>{{Cite web |authors=MAURICE A. HARTNETT, III; FRANK W. DAYKIN; E. EDWIN ECK, II; JOHN H. LANGBEIN; GLEE S. SMITH; NATHANIEL STERLING; RICHARD V. WELLMAN; DAVID M. ENGLISH; FRED H. MILLER; REX BLACKBURN; JOSEPH KARTIGANER; WILLIAM H. HENNING; WILLIAM J. PIERCE |date=2010 |others=contact person: ULC Chief Counsel Benjamin Orzeske: (312) 450-6621, borzeske@uniformlaws.org |title=UNIFORM TRUST CODE |url=https://www.uniformlaws.org/HigherLogic/System/DownloadDocumentFile.ashx?DocumentFileKey=972361c6-b31b-86bc-fac2-368306ab939d&forceDialog=0 |archive-url=http://web.archive.org/web/20221218023707/https://higherlogicdownload.s3-external-1.amazonaws.com/UNIFORMLAWS/972361c6-b31b-86bc-fac2-368306ab939d_file.pdf?AWSAccessKeyId=AKIAVRDO7IEREB57R7MT&Expires=1671334627&Signature=6hYcMjL5bbuiYtgBD11VsOYpKYU%3D |archive-date=18 Dec 2022 |website=Uniform Law Commission |series=Trust Code (193ff839-7955-4846-8f3c-ce74ac23938d) |publisher=The National Conference of Commissioners on Uniform State Laws (NCCUSL) |publication-place=111 N. Wabash Ave., Suite 1010, Chicago, IL 60602 |publication-date=27 Sep 2022}}</ref> |
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The Uniform Trust Code consists in eleven articles, of which eight substantive articles:<ref>[http://uniformlaws.org/ActSummary.aspx?title=Trust%20Code Trust Code Summary], Uniform Law Commission</ref> |
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# General Provisions and Definitions |
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# Judicial Proceedings |
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# Representation |
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# Creation, Validity, Modification and Termination of a Trust |
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# Creditor's Claim, Spendthrift and Discretionary Trusts |
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# Revocable Trusts |
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* Article 7 – Office of Trustee |
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# Office of Trustee |
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# Duties and Powers of the Trustee |
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# Uniform Prudent Investor Act |
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# Liability of Trustees and Rights of Persons Dealing with the Trustee |
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# Miscellaneous Provisions |
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Revision as of 02:52, 18 December 2022
The Uniform Trust Code is a model law in the United States, which although not binding, is influential in the states, and used by many as a model law. As of January 1, 2020, 34 States have enacted a version of the Uniform Trust Code (Alabama, Arizona, Arkansas, Colorado, Connecticut, Florida, Illinois, Kansas, Kentucky, Maine, Maryland, Massachusetts, Michigan, Minnesota, Mississippi, Missouri, Montana, Nebraska, New Jersey, New Hampshire, New Mexico, North Carolina, North Dakota, Ohio, Oregon, Pennsylvania, South Carolina, Tennessee, Utah, Vermont, Virginia, West Virginia, Wisconsin, and Wyoming). Legislation has currently[when?] been proposed in New York to adopt the UTC. [1]
Background
The goal of the uniform law is to standardize the law of trusts to a greater extent, given their increased use as a substitute for the "last will and testament" as the primary estate planning mechanism.
![[icon]](/wiki/File:Wiki_letter_w_cropped.svg){kind=small} | This section needs expansion. You can help by adding to it. (February 2012) |
Contents
The Uniform Trust Code consists of eleven articles:[2]
- General Provisions and Definitions
- Judicial Proceedings
- Representation
- Creation, Validity, Modification and Termination of a Trust
- Creditor's Claim, Spendthrift and Discretionary Trusts
- Revocable Trusts
- Office of Trustee
- Duties and Powers of the Trustee
- Uniform Prudent Investor Act
- Liability of Trustees and Rights of Persons Dealing with the Trustee
- Miscellaneous Provisions
| This section needs expansion. You can help by adding to it. (February 2012) |
See also
Notes
- ^ Roth, Renee and LaPiana, William P.; "A New Trust Code for New York"; https://www.law.com/newyorklawjournal/2020/01/16/a-new-trust-code-for-new-york/?slreturn=20200928163020
- ^ "UNIFORM TRUST CODE" (PDF). Uniform Law Commission. Trust Code (193ff839-7955-4846-8f3c-ce74ac23938d). contact person: ULC Chief Counsel Benjamin Orzeske: (312) 450-6621, borzeske@uniformlaws.org. 111 N. Wabash Ave., Suite 1010, Chicago, IL 60602: The National Conference of Commissioners on Uniform State Laws (NCCUSL) (published 27 Sep 2022). 2010. Archived from the original on 18 Dec 2022.
{{cite web}}: Cite uses deprecated parameter|authors=(help)CS1 maint: location (link) CS1 maint: others (link)
External links
- Trust Code, Uniform Law Commission - detailed information including an enactment status map
- Law Commission
- Text of the Uniform Trust Code 2005
- The Uniform Trust Code (2005) - overview of the act by law professor David English up through 2005
- https://www.mattersoftrustlaw.com/2016/03/uniform-trust-code-will-impact-blog/