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House advances two uniform trust bills to third reading after committee reports
Summary
The House advanced H.279 (Uniform Trust Decanting Act) and H.350 (Uniform Directed Trust Act) to third reading after committee reports. Sponsors said the measures codify common‑law practices, add beneficiary notice rules and director duties, and were vetted by legal and banking stakeholders.
The Vermont House ordered two uniform trust bills to third reading after floor presentations and committee reports Thursday.
Representative Adriano, speaking for committees, told members H.279, the Uniform Trust Decanting Act, would put statutory "guardrails" around trust decanting — the practice of pouring assets from one trust into another to better serve beneficiaries. The bill, placed in chapter 14a of the Vermont Statutes Annotated, sets definitions, limits the…
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