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

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

See also

• US trusts law
• English trusts law
• Uniform Probate Code

Notes

External links

• Trust Code, Uniform Law Commission - detailed information including an enactment status map
• Text of the Uniform Trust Code 2005
• The Uniform Trust Code (2005) - overview of the act by law professor David English up through 2005