HB 6441 - Connecticut Uniform Trust Code

• Adopts the Connecticut Uniform Trust Code (sections 1-86) effective July 1, 2011, establishing comprehensive statutory framework for creation, administration, and enforcement of express trusts in Connecticut.

• Applies to all express trusts (testamentary and inter vivos, charitable and noncharitable) created before, on, or after the effective date, as well as statutory trusts unless inconsistent with existing law.

• Establishes trustee duties including good faith administration, prudent investment management, accounting to beneficiaries, duty to disclose information to current and qualified beneficiaries, and conflict-of-interest restrictions.

• Defines beneficiary rights, including receipt of notices and reports, and creditor protections through spendthrift provisions; allows modification or termination of trusts under specified circumstances with court approval or by consent of settlor and all qualified beneficiaries.

• Creates procedures for trustee appointment, removal, and resignation; establishes jurisdiction and venue rules for probate and superior courts; and provides limitations on judicial proceedings against trustees for breach of trust (one to two years depending on circumstances).