Article: Was It Wise to Try to Implement Trust Law Reforms Through the Uniform Prudent Management of Institutional Funds Act?

C. Boone Schwartzel recently published an article entitled, Was It Wise to Try to Implement Trust Law Reforms Through the Uniform Prudent Management of Institutional Funds Act?, Estate Planning Journal Volume 14, Issue 1 (2022).

Provided below is the abstract to the Article: 

UPMIFA’s new remedies empower courts and charitable institutions to more easily modify donor restrictions when they become outdated, wasteful, or impossible to carry out. Many UTC reforms, including its liberalized trust law deviation and cy pres remedies, weaken trust law’s historic ties to donor intent and raise important public policy questions (as well as potential constitutional law concerns) over both the wisdom and validity of those reforms, especially as applied under UPMIFA.