United States trust law (original) (raw)

United States trust law is the body of law regulating the legal instrument for holding wealth known as a trust. Most law regulating the creation and administration of trusts in the United States is now statutory at the state level. In August 2004, the National Conference of Commissioners on Uniform State Laws created the first attempt to codify generally accepted common law principles in Anglo-American law regarding trusts into a uniform statutory code for the fifty states, called the Uniform Trust Code (UTC). As of July 2012, 25 states have adopted some substantive form of the UTC with three others having introduced it into the legislature for adoption.