This presentation will focus on giving estate, trust, and elder law practitioners an understanding of Nonjudicial Settlement Agreements (NJSAs) as authorized under Pennsylvania’s Uniform Trust Act as well as the Uniform Trust Code in general. NJSAs have emerged as a cost-effective, private, and efficient method to resolve trust-related disputes or to make necessary administrative and substantive modifications to trusts. We will cover the uses, benefits, and limitations of NJSAs, and compare their application across some sister jurisdictions who have adopted the Uniform Trust Code. Case studies will be examined. We will also explore the interplay of Pennsylvania’s new Directed Trust Act, and how drafting attorneys may write trusts prospectively, with future flexibility in mind.
Presented by:
Alan J. Cohen,
Attorney with Mette Attorneys at Law