What does the Uniform Trust Code say about the Terms of an Express Trusts?
Feb 04, 2023The Uniform Trust Code (UTC) sets out the rules and requirements for the terms of an express trust. According to the UTC, the terms of an express trust are defined by the trust instrument, which is the document that sets forth the settlor's intention for the trust and the provisions governing its administration. The UTC provides that the terms of the trust may be expressed in the trust instrument, or may be implied from the circumstances surrounding the creation of the trust.
The UTC also provides that the terms of the trust may be amended or modified if the trust instrument so provides or if all of the qualified beneficiaries consent. The UTC sets out the rules for the interpretation of the terms of the trust, including the standards for determining the settlor's intention and the priorities among conflicting provisions. In this way, the UTC provides a comprehensive framework for defining and interpreting the terms of an express trust.
Are you ready to take make the decision to change your life and take theory into practice and establish your first private express trust? Begin today by clicking the link below.
