Uniform Trust Code
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 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 in eleven articles, of which eight substantive articles:[2]
- Article 2 – Judicial Proceedings
- Article 3 – Representation
- Article 4 – Creation, Validity, Modification and Termination of a Trust
- Article 5 – Creditor's Claim, Spendthrift and Discretionary Trusts
- Article 6 – Revocable Trusts
- Article 7 – Office of Trustee
- Article 8 – Duties and Powers of the Trustee
- Article 10 – Liability of Trustees and Rights of Persons Dealing with the Trustee
| 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
- ^ Trust Code Summary, Uniform Law Commission
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/