Thursday, August 15, 2013
Recently, the Delaware Governor signed a new law regarding the Delaware trust laws. The piece of legislation called the Trust Act 2013 is effective immediately. The Act offers advancements in Delaware trust law that will increase flexibility to settlors, beneficiaries, and trustees to achieve their estate planning goals more easily. The new law also allows the use of " nonjudicial settlement agreements" in Delaware.
See Morris Nichols Trust Act 2013 Changes to the Delaware Code, Trusts,Estates & Tax Group, Aug. 6, 2013.