Question 1

What standard must a court satisfy before modifying a trust under the Uniform Trust Code’s equitable deviation provision?

Accepted Answer

A court may modify administrative or dispositive provisions when circumstances not anticipated by the settlor have arisen and the modification will further the purposes of the trust.

Question 2

To whom does a trustee owe fiduciary duties while a trust remains revocable under the Uniform Trust Code?

Accepted Answer

While a trust is revocable the rights of the beneficiaries are subject to the control of the settlor and the trustee’s duties are owed exclusively to the settlor.

Question 3

Does the Uniform Trust Code permit a majority of co-trustees to act without unanimous consent?

Accepted Answer

Yes. The code rejects the common-law unanimity rule and allows action by a majority of the co-trustees unless the trust instrument provides otherwise.

Question 4

Which creditors may reach a beneficiary’s interest despite a spendthrift clause under the Uniform Trust Code?

Accepted Answer

The code limits exceptions to child-support and spousal-support creditors, certain governmental claims, and judgment creditors who provided services protecting the beneficiary’s interest in the trust.

Uniform Trust Code

Common Examples

Special Needs Trust Conversion

Revocable Trust Duties

Cases

Uniform Acts

Restatements

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