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ARTICLE · 20 JANUARY 2012

Changes To Washington Trust Laws Impact Trustees And Beneficiaries

New legislation affecting the administration of trusts, the obligations of trustees, and the rights of trust beneficiaries was recently signed into law.

United StatesGovernment, Public Sector

New legislation affecting the administration of trusts, the obligations of trustees, and the rights of trust beneficiaries was recently signed into law. The new law took effect on January 1, 2012, and, with one exception, will apply to all trusts regardless of when the trust was created.

The new law does not require individuals to execute new trust documents, but in light of the changes, a review of personal estate planning documents is advisable. Furthermore, individuals serving as trustees should seek advice on whether their duties have changed under the new law. Additionally, some of these changes may affect the administration of existing trusts that have been established and ongoing for many years.

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