Tuesday, May 31, 2022
Directed trusts have been gaining popularity in recent years as many states allow someone other than the trustee the power over some aspect of a trust’s administration. The Uniform Law Commission introduced the Uniform Directed Trust Act (UDTA) to provide clear guidelines that allow a settlor to structure a directed trust for any situation while preserving safeguards for beneficiaries.
The increasing number of variables that go into estate planning mean directed trusts are more important than ever. Understanding the governing law and situs for a directed trust and how they vary by jurisdictions is paramount.
For more Information:
See Michael A. Sneeringer and Jordan D. Veurink, “Directions to Trust Directors of Directed Trusts”, ABA Probate & Property Magazine, May/June 2022.