Trust Act 2014 Legislative Update
On February 25, 2014, Delaware Governor Jack Markell signed Senate Bills 155 and 156 into law, effective immediately. On July 22, 2014, Governor Markell signed House Bill 142 into law, effective as of August 1, 2014. These laws (collectively “Trust Act 2014”) provide many advancements in Delaware trust law that will provide settlors, beneficiaries and fiduciaries of trusts with more tools and greater flexibility to accomplish their various objectives. The Morris Nichols Trusts, Estates & Tax Group is pleased to share this Delaware legislative update with you.
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