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Spendthrift And Discretionary Trusts: Alive And Well Under The Uniform Trust Code, Alan Newman

Alan Newman

Spendthrift and Discretionary Trusts: Alive and Well under the Uniform Trust Code

Among the provisions of the Uniform Trust Code (“UTC” or the “Code”) that have attracted the most attention are those of Article 5: Creditor’s Claims; Spendthrift and Discretionary Trusts. Although much of the UTC is a codification of the common law of trusts, there are many differences among the states in their handling of various creditors’ rights issues, and many jurisdictions have no law on some of those issues. As a result, there is no well-accepted, established common law on some of the issues addressed by Article 5. …