summary
Introduced
01/22/2019
01/22/2019
In Committee
01/22/2019
01/22/2019
Crossed Over
Passed
Dead
12/31/2020
12/31/2020
Introduced Session
191st General Court
Bill Summary
For legislation relative to the Massachusetts Uniform Trust Decanting Act. The Judiciary.
AI Summary
This bill proposes to enact the Massachusetts Uniform Trust Decanting Act, which would allow authorized fiduciaries (such as trustees) with discretion over the distribution of trust principal to modify the terms of an irrevocable or revocable trust by "decanting" the trust property into a new or modified trust, subject to certain limitations. The bill defines key terms, outlines the scope and procedures for exercising the decanting power, and imposes restrictions to protect charitable interests and tax benefits. The bill also addresses issues related to trust duration, fees, liability, and the treatment of later-discovered or acquired property. The bill would take effect on January 1, 2020.
Committee Categories
Justice
Sponsors (1)
Last Action
Accompanied a study order, see S2496 (on 02/03/2020)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://malegislature.gov/Bills/191/S896 |
| Bill | https://malegislature.gov/Bills/191/S896.pdf |
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