ULC

Acts

Trust Decanting

Description

“Decanting” is the term used to describe the distribution of assets from one trust into a second trust, like wine is decanted from the bottle to another vessel. Decanting can be a useful strategy for changing the outdated terms of an otherwise irrevocable trust, but can also be abused to defeat the settlor’s intent. The Uniform Trust Decanting Act allows a trustee to reform an irrevocable trust document within reasonable limits that ensure the trust will achieve the settlor’s original intent. The act prevents decanting when it would defeat a charitable or tax-related purpose of the settlor.

Staff Contact

Benjamin Orzeske borzeske@uniformlaws.org

 

Enactment Status Map

Map of USA Alabama Alaska Arizona Arkansas California Colorado Connecticut Delaware District of Columbia Florida Georgia Hawaii Idaho Illinois Indiana Iowa Kansas Kentucky Louisiana Maine Maryland Massachusetts Michigan Minnesota Mississippi Missouri Montana Nebraska Nevada New Hampshire New Jersey New Mexico New York North Carolina North Dakota Ohio Oklahoma Oregon Pennsylvania Puerto Rico Rhode Island South Carolina South Dakota Tennessee Texas Utah Vermont U.S. Virgin Islands Virginia Washington West Virginia Wisconsin Wyoming

Legislative Tracking

2018 Introductions & Enactments
StateBillSponsorStatus
Alabama HB 163 BeckmanIntroduced
California SB 909 HertzbergIntroduced
Illinois HB 2526 WilliamsIntroduced

 

Drafting History

Origin: Completed by the Uniform Law Commission in 2015.
Committee/Resources: Trust Decanting