Modification and Termination of Trusts in the 21st Century: The Uniform Trust Code Leads a Quiet Revolution

Abstract:     
The author argues that the trend toward allowing and creating long-term trusts necessitates easier modification and termination of these trusts. The author recommends reexamining the principle that modification of a trust that runs counter to the "material purpose" of the settlor is unacceptable. He also recommends that, to the extent possible, private and charitable trusts be treated the same for modification purposes. The Article includes a discussion of the sections of the Uniform Trust Code concerning modification and termination of private and charitable trusts. (Current section numbers are plus one from those used in this article)

Accepted Paper Series