On January 15, 2009 the Governor Patrick signed into law the Massachusetts Uniform Probate Code (MUPC). The MUPC contains provisions relating to wills, intestacy, estate administration and trust administration that will go into effect on January 2, 2012.
Article VII of the MUPC focuses on the way the Probate Court deals with trusts, and the key changes from current law relate to taking trust administration outside of court supervision in most cases the same way the MUPC takes estate administration outside of court supervision. Article VII overlaps with the Uniform Trust Code, which is currently being considered for enactment in Massachusetts, but the Uniform Trust Code is far broader and touches on additional substantive topics relating to trusts. If enacted, the Uniform Trust Code will repeal and incorporate many of the provisions of Article VII.
This program will focus on the both actual and expected changes to the law affecting the administration of trusts and the duties and obligations of trustees. There will also be a focus on transition rules that will govern trusts already in effect at the time the MUPC and the Trust Code go into effect.
Specific Topics:
Duty to Inform and Account to Beneficiaries
Change of Trustee
Statute of Limitations for Claims Against Trustees
Trustees Act by Majority Decision
Virtual Representation
Non-Judicial Settlement Agreements
Animal Trusts and Purpose Trusts
Reformation and Modification
Spendthrift Provisions
Revocable Trusts
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