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Modification And Termination Of Irrevocable Trusts Under The Ohio Uniform Trust Code, Alan Newman, Jamie R. Minor
Modification And Termination Of Irrevocable Trusts Under The Ohio Uniform Trust Code, Alan Newman, Jamie R. Minor
Alan Newman
The adoption of the Ohio Uniform Trust Code (the “OUTC” or “the Code”) will constitute a comprehensive codification of trust law in Ohio. Among the many subjects it covers are the modification and termination of trusts. As noted in a comment to the national Uniform Trust Code (the “UTC”), “the overall objective of these [modification and termination] sections is to enhance flexibility consistent with the principle that preserving the settlor’s intent is paramount.” Given such factors as the increased use of trusts in recent years (including trusts created by non-lawyers and lawyers who do not specialize in estate planning); the …
Codify -- Not Modify: Creditor Remedies And The Ohio Uniform Trust Code, Alan Newman, Richard E. Davis
Codify -- Not Modify: Creditor Remedies And The Ohio Uniform Trust Code, Alan Newman, Richard E. Davis
Alan Newman
In a number of states that have considered the Uniform Trust Code (“UTC”), Article 5, "Creditor’s Claims; Spendthrift And Discretionary Trusts," has become a flash point of controversy. The prefatory note to the UTC states that much of the UTC is a codification of the common law of trusts, but that it also introduces a number of innovative provisions. UTC critics, on the one hand, claim that more than a hundred years of common law have been tossed aside, giving creditors greatly expanded abilities to reach through once impenetrable barriers that previously protected trust beneficiaries, while supporters, on the other …
Ohio Uniform Trust Code Takes Shape, Alan Newman
Ohio Uniform Trust Code Takes Shape, Alan Newman
Alan Newman
The Uniform Trust Code (UTC) has been under study in Ohio since shortly after its approval by the National Conference of Commissioners on Uniform State Laws in 2000. See, e.g., Susan S. Locke, et. al., Uniform Trust Code, 11 PLJO 49 (Mar./Apr. 2001); David M. English, The Uniform Trust Code (2000) and Its Application to Ohio, 12 PLJO 1 (Sept./Oct. 2001); and David M. English, The Uniform Trust Code (2000) and its Application to Ohio, 30 Capital University Law Review 1 (2000).
Substantial progress has been made towards the adoption of a modified version of the UTC in Ohio. At …