Non-Charitable Purpose Trusts: Past, Present, and Future
52 Pages Posted: 7 Dec 2016
Date Written: December 6, 2016
This Article focuses on non-charitable purpose trusts and how they enable estate planners to better carry out their clients’ objectives. Specifically, it explores the history of non-charitable purpose trusts and summarizes the differences between private trusts, charitable trusts, and non-charitable purpose trusts. This Article also examines the treatment of non-charitable purpose trusts in England and the United States prior to the promulgation of the Restatement of Trusts in 1935. This Article surveys the recent adoption of non-charitable purpose trust provisions in the Uniform Trust Code and various Restatements and gives advice on drafting the trust instruments. Lastly, this Article concludes with suggested revisions to the Uniform Trust Code.
Keywords: Trust and Estates, trusts, estate planner, non-charitable, non-charitable purpose trusts, private trusts, charitable trusts, England, United States, Uniform Trust Code
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