Bill > H1648

This bill enacts the Massachusetts Uniform Trust Decanting Act, which allows an authorized fiduciary (such as a trustee) to distribute property from an existing trust ("first trust") to a new trust ("second trust") or modify the terms of the existing trust, subject to certain limitations and requirements. The bill defines key terms, outlines the scope and application of the Act, establishes fiduciary duties, provides notice and court involvement procedures, and sets forth rules governing the decanting power based on the level of the fiduciary's discretion. The bill also includes provisions to protect charitable interests and accommodate trusts for beneficiaries with disabilities, and it addresses tax-related limitations and other technical aspects. The bill will take effect on January 1, 2024.

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https://malegislature.gov/Bills/193/H1648