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1 THE OREGON UNIFORM TRUST CODE - Oregon State Bar 2026

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  1. Click ‘Get Form’ to open it in the editor.
  2. Begin by reviewing the General Provisions and Definitions section. Familiarize yourself with key terms such as 'Settlor' and 'Qualified Beneficiary' to understand your rights and responsibilities.
  3. Proceed to fill out the specific sections relevant to your trust. For example, if you are creating a trust, ensure you complete Section 21 regarding Methods of Creating Trust accurately.
  4. Utilize our platform's commenting feature to add notes or questions directly on the document for future reference or discussion with legal counsel.
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Who should create a trust versus a will? Individuals who want to distribute their assets during their lifetime or have more control over their estate planning should consider creating a trust, while those who want a simpler and less costly process may opt for a will.
But, jurisdictions like California, New York, Nevada, Texas, Dela- ware and South Dakota remain notable states which continue to resist the adoption of the UTC.
In my mind, if you have less than $1 million in assets and your financial world is pretty simple and straightforward a will gets the job done just fine. One of the most important differences between wills and trusts is the ability to name a guardian for your minor children.
The deceased spouses estate typically funds the B Trust (also known as the Family Trust) up to the Oregon exclusion amount, currently $1 million. This protects the first $1 million from estate tax since taxes are only applied to amounts over the $1 million exclusion.
The law of trusts in Oregon was overhauled, effective January 1, 2006, with the adoption of much of the Uniform Trust Code. Over the past several years, several additional modifications have been made to the Oregon Uniform Trust Code (the OUTC).

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Individuals who want to distribute their assets during their lifetime or have more control over their estate planning should consider creating a trust, while those who want a simpler and less costly process may opt for a will.
The Uniform Trust Code, known as the UTC, was drafted in 2000 by the National Conference of Commissioners on Uniform State Laws. It was drafted to collect, unify, and codify trust law. The UTC has been exceptionally influential on trust law throughout the United States.
Assets in a living trust skip probate, allowing your heirs to receive them faster. Privacy: A will becomes public record during the probate process. Trusts remain private, which can be attractive to those who want to protect the identity of their heirs and the details of their property.

Related links

Oregon Revised Statutes

Chapter 130 Uniform Trust Code. 2025 EDITION. UNIFORM TRUST CODE. PROTECTIVE PROCEEDINGS; POWERS OF ATTORNEY; TRUSTS. GENERAL PROVISIONS AND DEFINITIONS.Read more

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Report of Oregon Uniform Trust Code Work Group SB 592.pdf

The law of trusts in Oregon was overhauled, effective January 1, 2006, with the adoption of much of the Uniform Trust Code.

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