Massachusetts Uniform Trust Code Enacted

The Massachusetts Uniform Trust Code (the "MUTC") was signed into law on July 8, 2012 and became effective immediately.  It repeals Article VII of the Massachusetts Uniform Probate Code which governed certain aspects of trust administration.  The MUTC contains provisions that give trustees flexibility in administering trusts, reduce the necessity for court intervention and clarify the rights of the trust beneficiaries.  It applies to all trusts in existence before, on and after its effective date, with a few limited exceptions that are prospective only.  Many, but not all, of the provisions of the MUTC can be overridden by the terms of the trust instrument.

Here are some highlights of the MUTC: