The Uniform Trust Code is a model law in the United States created by the Uniform Law Commission, which, although not binding, is influential in the states and used by many as a model law. As of October 2022, 36 states and jurisdictions have enacted a version of the Uniform Trust Code (Alabama, Arizona, Arkansas, Colorado, Connecticut, District of Columbia, Florida, Hawaii, Illinois, Kansas, Kentucky, Maine, Maryland, Massachusetts, Michigan, Minnesota, Mississippi, Missouri, Montana, Nebraska, New Hampshire, New Jersey, New Mexico, North Carolina, North Dakota, Ohio, Oregon, Pennsylvania, South Carolina, Tennessee, Utah, Vermont, Virginia, West Virginia, Wisconsin, and Wyoming). As of October 2022, legislation has been proposed in New York to adopt the UTC. [1]
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.
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The Uniform Trust Code consists of eleven articles: [2]
This section needs expansion. You can help by
adding to it. (February 2012) |
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