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Article Five Of The Utc And The Future Of Creditors' Rights In Trusts, Robert T. Danforth
Article Five Of The Utc And The Future Of Creditors' Rights In Trusts, Robert T. Danforth
Scholarly Articles
The Uniform Trust Code ("UTC") is the first comprehensive codification of the law of trusts. Approved in 2000 by the National Conference of Commissioners on Uniform State Laws, the UTC has since been enacted (sometimes in modified form) in at least a dozen jurisdictions. The UTC has not been without controversy. In particular, Article Five of the UTC - concerning creditors' rights - has generated a veritable war of words, with opponents claiming that enactment of the UTC will result in dire consequences to the traditional creditor-protection benefits associated with spendthrift and discretionary trusts. The purpose of this article is …