S1112
An Act establishing the Massachusetts Uniform Trust Decanting Act
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Bill overview
This bill establishes the Massachusetts Uniform Trust Decanting Act, which aims to streamline the process of transferring assets from an aging or poorly managed trust to a more suitable one. Currently, decanting trusts in Massachusetts can be complex and costly. This legislation seeks to create a more efficient and predictable procedure for trustees to manage trusts when the original terms no longer serve the beneficiary’s best interests. The goal is to provide greater flexibility and control for trustees while protecting the interests of the trust beneficiaries.
Key provisions
- Allows a trustee to transfer assets from an existing trust to a new trust under certain circumstances.
- Establishes specific criteria for when decanting is permissible.
- Specifies procedures for notifying interested parties, such as beneficiaries and the court.
- Provides for the transfer of assets without court approval in limited situations.
- Defines the roles and responsibilities of trustees during the decanting process.
- Addresses potential conflicts of interest.
- Requires the new trust to provide similar or better terms to the beneficiaries.
- Creates a framework for handling any disputes that may arise during the decanting process.
Who is affected
- Trustees
- Beneficiaries of trusts
- Estate planning attorneys
- Financial advisors
- The probate court system
Notable changes
Sponsors
Official sponsors from legislative records.
Primary sponsor
Barry R. Finegold
Cosponsor
Barry R. Finegold
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Bill S.1112 194th (Current)
An Act establishing the Massachusetts Uniform Trust Decanting Act
By Mr. Finegold, a petition (accompanied by bill, Senate, No. 1112) of Barry R. Finegold for legislation relative to the Massachusetts Uniform Trust Decanting Act. The Judiciary.
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Bill Information
Bill Information
Presenter: Barry R. Finegold Status: Referred to Senate Committee on Ways and Means
Tabs
Bill History Petitioners Committee Vote Primary Sponsor Summary
Bill History
Displaying 5 actions for Bill S.1112
| Date | Branch | Action |
| 2/27/2025 | Senate | Referred to the committee on The Judiciary |
| 2/27/2025 | House | House concurred |
| 4/18/2025 | Joint | Hearing scheduled for 04/22/2025 from 01:00 PM-05:00 PM in A-2 |
| 10/9/2025 | Senate | Bill reported favorably by committee and referred to the committee on Senate Ways and Means |
| 10/14/2025 | Joint | Hearing scheduled for 04/22/2025 from 01:00 PM-05:00 PM in A-2 |
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