An Act relative to the Massachusetts Uniform Trust Decanting Act

This bill establishes the Massachusetts Uniform Trust Decanting Act, creating a legal framework for trustees to modify existing trusts. It defines key terms like "decanting power" (the ability to transfer assets to a new trust with updated terms) and "authorized fiduciary" (trustees or others with authority to make these changes). The act directly affects trustees managing trusts, beneficiaries (including charitable organizations named in trusts), and individuals with powers of appointment. Its key mechanism allows trustees to adjust trust terms - such as extending duration or changing distribution rules - without court approval, provided they follow the defined process. This streamlines trust management while maintaining legal safeguards for beneficiaries.