Establishes the Massachusetts Uniform Trust Decanting Act to allow trustees to transfer trust property to new trusts.

The Massachusetts Uniform Trust Decanting Act allows trustees to transfer property from an existing trust, known as the "first trust," to one or more new trusts, referred to as "second trusts." Trustees can exercise this "decanting power" without court approval or beneficiary consent, provided they follow certain rules. Trustees must give notice to specified parties before exercising the decanting power. The act outlines conditions under which the decanting power can and cannot be exercised, including restrictions on increasing trustee compensation and modifying fiduciary duties.

Establishes the Massachusetts Uniform Trust Decanting Act to allow trustees to transfer trust property to new trusts.

The Massachusetts Uniform Trust Decanting Act allows trustees to transfer property from an existing trust, known as the "first trust," to one or more new trusts, referred to as "second trusts." Trustees can exercise this "decanting power" without court approval or beneficiary consent, provided they follow certain rules. Trustees must give notice to specified parties before exercising the decanting power. The act outlines conditions under which the decanting power can and cannot be exercised, including restrictions on increasing trustee compensation and modifying fiduciary duties.