What is the Uniform Trust Code (UTC) and why should it be adopted in New Jersey? The Uniform Trust Code is, as the name denotes, an attempt to codify rules related to trust administration and planning. It was originally proposed by the National Conference of Commissioners on Uniform State Laws (also called the Uniform Law Commission) in 2000, but it was primarily for jurisdictions that had little or no established trust law.
In New Jersey, unlike many other states, our trust law has been developed and has been settled for more than 150 years. Thus, many questions have been asked and answered. The UTC is designed to provide precise comprehensive and accessible guidance on trust law questions. Because of the established case law, New Jersey is not a jurisdiction that needs the UTC, but there are still fantastic reasons for adoption, e.g., consolidation of the rules in one place will assist lawyers, judges and clients alike.
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