Fiduciary Litigators Beware: the Overlapping Coverage of the Uniform Trust Code and the Uniform Prudent Management of Institutional Funds Act is Muddling Standing Jurisprudence
By EsqSocial Corporation 06/05/25
Some administered charitable gifts may qualify as “charitable trusts” under the Uniform Trust Code (UTC) and as “institutional funds” under the Uniform Prudent Management of Institutional Funds Act (UPMIFA). An “institutional fund” is defined in UPMIFA as a fund held by an institution exclusively for charitable purposes. This textual overlap is muddling standing jurisprudence. The UTC affords the settlor of a charitable trust standing to seek its enforcement. UPMIFA, on the other hand, has been...
By: Charles E. Rounds, Jr. - Suffolk University