Uniform Trust Code

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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 July 2012, 25 states have adopted some substantive form of the UTC with three others having introduced it into the legislature for adoption.

Background[edit]

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 for the affluent.

Contents[edit]

The Uniform Trust Code consists in eleven articles, of which eight substantive articles:[1]

  • 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

See also[edit]

Notes[edit]

  1. ^ Trust Code Summary, Uniform Law Commission

External links[edit]