The Uniform Trust Code is a
model law
A model act, also called a model law or a piece of model legislation, is a suggested example for a law, drafted centrally to be disseminated and suggested for enactment in multiple independent legislatures. The motivation classically has been the ...
in the
United States
The United States of America (U.S.A. or USA), commonly known as the United States (U.S. or US) or America, is a country primarily located in North America. It consists of 50 states, a federal district, five major unincorporated territorie ...
, 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.
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.
Contents
The Uniform Trust Code consists of eleven articles:
# 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
See also
*
US trusts law
United States trust law is the body of law regulating the legal instrument for holding wealth known as a trust.
Most law regulating the creation and administration of trusts in the United States is now statutory at the state level. In August 2004 ...
*
English trusts law
English trust law concerns the protection of assets, usually when they are held by one party for another's benefit. Trusts were a creation of the English law of property and obligations, and share a subsequent history with countries across the ...
*
Uniform Probate Code
The Uniform Probate Code ( commonly abbreviated UPC) is a uniform act drafted by National Conference of Commissioners on Uniform State Laws (NCCUSL) governing inheritance and the decedents' estates in the United States. The primary purposes of ...
*
Uniform Power of Attorney Act
The Uniform Power of Attorney Act (2006) (UPOAA) was a law proposed by the National Conference of Commissioners on Uniform State Laws (ULC) to create a uniform framework for power of attorney provisions throughout the United States.
History
Hi ...
Notes
{{Reflist, 2
External links
Trust Code Uniform Law Commission - detailed information including an enactment status map
Law CommissionText of the Uniform Trust Code 2005The 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/
United States trusts law
Wills and trusts
Uniform Acts