Originally enacted in 1931 and then revised in 1962, UPAIA was last comprehensively revised in 1997. Much has changed in the nearly two decades since then. The drafting committee will undertake a number of revisions to bring the UPAIA up to date and to add a unitrust provision. Modern trust law requires a trustee to invest for the best total return and simultaneously to treat income and remainder beneficiaries impartially. In order to fulfill these duties, a trustee should be able to make adjustments between income and principal or to make a unitrust election. The drafting committee will address many other issues, including (1) the treatment of money that a trust receives in partial liquidation of an entity in which the trust owns an interest and (2) the allocation of capital gains to income for income tax purposes.