summary
Introduced
02/16/2023
02/16/2023
In Committee
02/16/2023
02/16/2023
Crossed Over
Passed
Dead
12/31/2024
12/31/2024
Introduced Session
193rd General Court
Bill Summary
For legislation relative to the Massachusetts Uniform Trust Decanting Act. The Judiciary.
AI Summary
This bill establishes the Massachusetts Uniform Trust Decanting Act, which allows an authorized trustee to distribute the property of an irrevocable or revocable trust to a new or modified trust, subject to certain requirements and restrictions. The act defines key terms, outlines the scope and application of the decanting power, and sets forth procedures for exercising the power, including notice requirements and court involvement. The bill also includes provisions related to tax implications, the duration of the second trust, and the treatment of later-discovered or acquired trust property. The bill would take effect on January 1, 2024.
Committee Categories
Justice
Sponsors (1)
Last Action
Accompanied a study order, see S2926 (on 07/30/2024)
Official Document
bill text
bill summary
Loading...
bill summary
Loading...
bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://malegislature.gov/Bills/193/S977 |
| BillText | https://malegislature.gov/Bills/193/S977.pdf |
Loading...