On July 29, 2016, the governor of Delaware signed new trust legislation into law, modifying Delaware’s nonjudicial settlement agreement (NSJA) statute. It will expand the utility and availability of NJSAs. These agreements will help resolve trust administration issues without the time commitment and expense of going to court. Also, this new trust legislation will add a new statue, allowing modification of trusts when the settlor is living and upon consent of the settlor, all living fiduciaries, and all beneficiaries.
See Morris, Nichols, Arsht & Tunnell LLP, Trust Act 2016 Legislative Update, Trusts, Estates & Tax Alert, August 1, 2016.
