An Act relative to total return unitrusts

This bill amends Massachusetts law to allow trustees of certain private trusts to convert them into "total return unitrusts" without needing court approval. Under the new rules, a trustee who is not personally interested in the trust's assets can change how distributions are calculated, shifting from fixed income payments to a percentage of the trust's total market value. The legislation requires the trustee to provide written notice to the trust creator and beneficiaries at least 60 days before making such changes, ensuring those affected have a chance to object. This process applies to both converting an existing income trust into a unitrust and reversing that conversion back to an income-based structure.