H 4330
An Act relative to the Massachusetts Uniform Trust Decanting Act
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Bill overview
This bill establishes the Massachusetts Uniform Trust Decanting Act, which governs the process of transferring assets from an existing trust to a new trust. It defines key terms related to trusts and decanting, outlines the procedures for exercising the decanting power, and addresses issues such as beneficiary rights, fiduciary duties, and tax implications. The act aims to provide a standardized framework for trust decanting in Massachusetts, offering flexibility while safeguarding the interests of beneficiaries and ensuring compliance with relevant laws.
Key provisions
- Defines key terms related to trusts, including ‘decanting power,’ ‘first trust,’ ‘second trust,’ and ‘authorized fiduciary.’
- Establishes procedures for exercising the decanting power, requiring notice to relevant parties and court approval in certain circumstances.
- Addresses fiduciary duties and liability during the decanting process.
- Specifies limitations on the decanting power, such as restrictions on altering charitable interests or reducing beneficiary rights.
- Provides rules for handling later-discovered or acquired property related to the trust.
- Outlines requirements for the terms of the second trust, ensuring alignment with the original trust’s purpose.
- Addresses the impact of the decanting power on tax implications, particularly regarding charitable deductions and grantor trusts.
- Clarifies the roles and responsibilities of the protector of an animal trust.
Who is affected
Sponsors
Official sponsors from legislative records.
Primary sponsor
Joint Committee on the Judiciary
Cosponsor
Jay D. Livingstone
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Bill H.4330 194th (Current)
An Act relative to the Massachusetts Uniform Trust Decanting Act
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Bill Information
Bill Information
Sponsor: Joint Committee on the Judiciary Status: Referred to House Committee on Ways and Means
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Bill History Cosponsors Committee Summary
Bill History
Displaying 3 actions for Bill H.4330
| Date | Branch | Action |
| 7/30/2025 | House | Reported from the committee on The Judiciary |
| 7/30/2025 | House | New draft of H1856 |
| 7/30/2025 | House | Bill reported favorably by committee and referred to the committee on House Ways and Means |
Similar Bills
H.1856 194th (Current)
An Act relative to the Massachusetts Uniform Trust Decanting Act
H.1648 193rd (2023 - 2024)
An Act relative to the Massachusetts Uniform Trust Decanting Act
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