B25-0224 - Uniform Trust Decanting Act of 2023
Washington D.C. - 25th Council
Introduced byPhil Mendelson
Last updated over 1 year ago
1 Co-Sponsor
As introduced Bill 25-224 would provide statutory rules for a trustee’s distribution of assets from one irrevocable trust to another. It provides appropriate limits on a trustee’s ability to decant to ensure that the settlor’s intent is carried out. It would protect beneficiaries by requiring notice and protecting all vested interests. It would provide that charitable interests may not be reduced or eliminated and also would protect successor trustees from liability.
STATUS
Introduced
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