Are Express Trusts part of the Uniform Trust Code?    

Feb 04, 2023
 
 

Yes, express trusts are a key component of the Uniform Trust Code (UTC). The UTC provides a comprehensive framework for the creation, administration, and termination of express trusts, which are trusts that are created by the express declaration of the settlor (the person creating the trust). The UTC sets out the rules for the formation of express trusts, including the requirements for the validity of trust instruments and the creation of trusts through transfers of property. The UTC also addresses the duties and responsibilities of trustees and the rights of beneficiaries, as well as various issues related to the administration of trusts, such as investment, distribution, and termination. In this way, the UTC provides a unified and comprehensive set of rules for the governance of express trusts in the states that have adopted the UTC.

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