Rather than rely on common law, twenty-six states now have some form of a trust decanting statute. Local estate planning attorneys think it is time for Massachusetts to join the list. A bill proposing local adoption of the Uniform Trust Decanting Act (UTDA) is currently making its way through the Massachusetts legislature.
Hemenway & Barnes partner, Joseph L. Bierwirth, Jr., spoke in favor of the proposed uniform act in a recent interview with Massachusetts Lawyers Weekly, “Generally, the adoption of the act ensures that trustees have the flexibility to react to changing circumstances for the benefit of the beneficiaries and have the protection of law in reframing some trust provisions to look out for their interests.”
To read the full article, please click here: https://masslawyersweekly.com/2019/03/28/wide-support-seen-for-uniform-decanting-bill/