MA S964

Bill

MA S964

Relative to the Massachusetts Uniform Trust Decanting Act

Introduced
03/29/2021

In Committee
03/29/2021

Crossed Over

Passed

Dead
12/31/2022

Introduced Session

192nd General Court

Bill Summary

For legislation relative to the Massachusetts Uniform Trust Decanting Act. The Judiciary.

AI Summary

This bill enacts the Massachusetts Uniform Trust Decanting Act, which allows an authorized fiduciary of an irrevocable or revocable trust to "decant" or distribute the trust property to a new second trust with modified terms, subject to certain requirements and limitations. The bill defines key terms such as "authorized fiduciary," "first trust," and "second trust," and sets forth the fiduciary duties, notice requirements, court involvement, and tax-related limitations on the exercise of the decanting power. The bill also includes provisions to protect charitable interests and trusts for beneficiaries with disabilities. The act will take effect on January 1, 2022.

Committee Categories

Justice

Sponsors (1)

Cynthia Creem (D)*,

Last Action

Accompanied a study order, see S2665 (on 02/07/2022)

Official Document

https://malegislature.gov/Bills/192/S964

(23 Companion Bills)

Version:

Document Type	Source Location
State Bill Page	https://malegislature.gov/Bills/192/S964
Bill	https://malegislature.gov/Bills/192/S964.pdf

Bill	Bill Name	Last Action	Type
H1749	For uniform fiduciary access to digital assets	Accompanied a study order, see H4844	Similar To
H2013	Relative to relief for the Municipal Affordable Housing Trust Fund	Accompanied a study order, see H5023	Similar To
H2754	Relative to the retirement benefits of the surviving beneficiary of William Coulter	Accompanied a study order, see H4960	Similar To
H3449	Relative to beneficiary designation on motor vehicle registration	No further action taken	Similar To
H3894	Relative to investment of certain trust funds in the town of Weston	Signed by the Governor, Chapter 57 of the Acts of 2022	Similar To
H4005	Relative to the water supply protection trust	Chapter 66 of the Acts of 2021	Similar To
H4047	Message from His Excellency the Governor returning with his objections thereto in writing the engrossed Bill relative to the water supply protection trust (see House, No. 4005). August 3, 2021	See H4005	Similar To
H4059	Establishing a housing trust fund in the town of Chatham	No further action taken	Similar To
H4359	Fostering voter opportunities, trust, equity and security	Published as amended, see H4367	Similar To
H538	Relative to the safety of schools, residences, and public assemblies	Accompanied H653	Similar To
H90	Financing a program for improvements to the Unemployment Insurance Trust Fund and providing relief to employers and workers in the Commonwealth	For actions on the section returned with recommendations of amendments, see H3702	Similar To
S1582	To provide automated external defibrillators in all public safety vehicles	Bill reported favorably by committee and referred to the committee on Senate Ways and Means	Similar To
S1976	Creating the Preservation of Historic Buildings Trust Fund	Accompanied a study order, see S2743	Similar To
S2535	To revitalize agriculture, conditioning and simulcasting	Accompanied a new draft, see S3094	Similar To
S2665	Order relative to authorizing the joint committee on the Judiciary to make an investigation and study of certain current Senate documents relative to judiciary matters	Discharged to the committee on Senate Rules	Replaced by
S332	Relative to carbon monoxide detectors in schools	Accompanied H653	Similar To
S35	Similar Bills	See H90	Similar To
S505	Relative to funding water infrastructure and addressing economic target areas	Bill reported favorably by committee and referred to the committee on Senate Ways and Means	Similar To
S527	Improving municipal water infrastructure	Bill reported favorably by committee and referred to the committee on Senate Ways and Means	Similar To
S532	Relative to the Douglas State Forest Maintenance Trust Fund	Bill reported favorably by committee and referred to the committee on Senate Ways and Means	Similar To
S767	Relative to fiduciary responsibility	Accompanied a study order, see S2800	Similar To
S779	Relative to the utilization of public health benefits by large employers	Accompanied a study order, see S2800	Similar To
S791	To promote public health through the prevention and wellness trust fund	Accompanied a study order, see S2917	Similar To

Bill

Bill Name

Last Action

Type

H1749

For uniform fiduciary access to digital assets

Accompanied a study order, see H4844

Similar To

H2013

Relative to relief for the Municipal Affordable Housing Trust Fund

Accompanied a study order, see H5023

Similar To

H2754

Relative to the retirement benefits of the surviving beneficiary of William Coulter

Accompanied a study order, see H4960

Similar To

H3449

Relative to beneficiary designation on motor vehicle registration

No further action taken

Similar To

H3894

Relative to investment of certain trust funds in the town of Weston

Signed by the Governor, Chapter 57 of the Acts of 2022

Similar To

H4005

Relative to the water supply protection trust

Chapter 66 of the Acts of 2021

Similar To

H4047

Message from His Excellency the Governor returning with his objections thereto in writing the engrossed Bill relative to the water supply protection trust (see House, No. 4005). August 3, 2021

See H4005

Similar To

H4059

Establishing a housing trust fund in the town of Chatham

No further action taken

Similar To

H4359

Fostering voter opportunities, trust, equity and security

Published as amended, see H4367

Similar To

H538

Relative to the safety of schools, residences, and public assemblies

Accompanied H653

Similar To

H90

Financing a program for improvements to the Unemployment Insurance Trust Fund and providing relief to employers and workers in the Commonwealth

For actions on the section returned with recommendations of amendments, see H3702

Similar To

S1582

To provide automated external defibrillators in all public safety vehicles

Bill reported favorably by committee and referred to the committee on Senate Ways and Means

Similar To

S1976

Creating the Preservation of Historic Buildings Trust Fund

Accompanied a study order, see S2743

Similar To

S2535

To revitalize agriculture, conditioning and simulcasting

Accompanied a new draft, see S3094

Similar To

S2665

Order relative to authorizing the joint committee on the Judiciary to make an investigation and study of certain current Senate documents relative to judiciary matters

Discharged to the committee on Senate Rules

Replaced by

S332

Relative to carbon monoxide detectors in schools

Accompanied H653

Similar To

S35

Similar Bills

See H90

Similar To

S505

Relative to funding water infrastructure and addressing economic target areas

Bill reported favorably by committee and referred to the committee on Senate Ways and Means

Similar To

S527

Improving municipal water infrastructure

Bill reported favorably by committee and referred to the committee on Senate Ways and Means

Similar To

S532

Relative to the Douglas State Forest Maintenance Trust Fund

Bill reported favorably by committee and referred to the committee on Senate Ways and Means

Similar To

S767

Relative to fiduciary responsibility

Accompanied a study order, see S2800

Similar To

S779

Relative to the utilization of public health benefits by large employers

Accompanied a study order, see S2800

Similar To

S791

To promote public health through the prevention and wellness trust fund

Accompanied a study order, see S2917

Similar To

Bill > S964

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Introduced Session

Bill Summary

AI Summary

Committee Categories

Sponsors (1)

Last Action

Official Document

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