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Non-Judicial Settlement Agreements under Massachusetts Uniform Trust Code 2025

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The document discusses Non-Judicial Settlement Agreements under the Massachusetts Uniform Trust Code, outlining key statutory provisions that allow interested persons to enter binding agreements regarding trust matters without court approval, provided they do not violate the trust's material purpose. It details various matters that can be resolved through such agreements, including trustee actions, modifications, and terminations of trusts. The document also includes examples and a sample fact pattern illustrating the application of these provisions.

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What is a Non-Judicial Settlement Agreement under the Massachusetts Uniform Trust Code?

It is an agreement entered into by interested persons regarding matters involving a trust, which can be binding without court approval as long as it does not violate the material purpose of the trust.

Who qualifies as an 'interested person' in the context of these agreements?

An 'interested person' refers to individuals whose consent would be necessary for a binding settlement if it were to be approved by the court.

What types of matters can be resolved through a Non-Judicial Settlement Agreement?

Matters include interpretation of trust terms, approval of trustee reports, resignation or appointment of trustees, and liability issues related to trustees.

Can minors or incapacitated beneficiaries participate in these agreements?

Yes, their interests can be represented by another beneficiary with a substantially identical interest, barring any conflict of interest.

What happens if not all beneficiaries consent to a modification or termination of the trust?

The court may still approve modifications or terminations if it determines that the interests of non-consenting beneficiaries are adequately protected.

non judicial settlement agreement

MASSACHUSETTS small trust statute Massachusetts trust execution requirements How to dissolve an irrevocable trust in Massachusetts MASSACHUSETTS General Law Chapter 203E 411 Mutc Qualified beneficiary MASSACHUSETTS trustee powers Mutc 813

What is the Uniform Trust Code 108?

Section 108(b) of the Uniform Trust Code says that: A trustee is under a continuing duty to administer the trust at a place appropriate to its purposes, its administration, and the interests of the beneficiaries.

What are the powers of a trustee?

Trustees can manage the investments of the trust, including selling current investments and reinvesting in more suitable avenues. However, if a beneficiary is competent to contract, this power can only be exercised with their written consent.

What is the Uniform Trust Code?

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.

What is the Uniform Trust Code 808?

SECTION 808. POWERS TO DIRECT. (d) A person, other than a beneficiary, who holds a power to direct is presumptively a fiduciary who, as such, is required to act in good faith with regard to the purposes of the trust and the interests of the beneficiaries.

What is Section 813 of the Massachusetts Uniform Trust Code?

Section 813: Duty to inform and report Unless unreasonable under the circumstances, a trustee shall promptly respond to a qualified beneficiarys request for information related to the administration of the trust.