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).

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 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
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gollark: Anyway, try and work out what subtopics offer the highest exam marks per unit time, then focus on revising those, but don't spend too long on that or you will lose time on actually revising it.
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See also

Notes
  1. Trust Code Summary, Uniform Law Commission
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