A trust may be created by: (1) Transfer of property to another person as trustee during the settlor's lifetime, by deed or otherwise, or by will or other disposition taking effect upon the settlor's death; (2) declaration by the owner of property that the owner holds identifiable property as trustee; (3) exercise of a power of appointment or distribution in favor of a trustee; (4) transfer of property pursuant to a statute or judgment that requires property to be administered in the manner of an express trust, including, but not limited to, (A) a trust created by the guardian of the estate of a minor or by the conservator of an estate; or (B) a trust described in 42 USC 1396p(d)(4), as amended from time to time; or (5) court order.
(P.A. 19-137, S. 22.)
History: P.A. 19-137 effective January 1, 2020.
Structure Connecticut General Statutes
Title 45a - Probate Courts and Procedure
Section 45a-473. (Formerly Sec. 45-83). - Bonds of testamentary trustees.
Section 45a-474. (Formerly Sec. 45-84). - Vacancies in office of trustee.
Section 45a-476. (Formerly Sec. 45-86). - Legal title vests in trustee appointed to fill vacancy.
Section 45a-482. (Formerly Sec. 45-93a). - Distribution of assets of inoperative trust.
Section 45a-484. (Formerly Sec. 45-79c). - Termination of small trusts.
Section 45a-487j. - Short title: “Connecticut Qualified Dispositions in Trust Act”.
Section 45a-487k. - Definitions.
Section 45a-487l. - Appointment of trust director by transferor.
Section 45a-487n. - Irrevocability of trust instrument.
Section 45a-487o. - No retained interest of transferor.
Section 45a-487p. - Avoidance of qualified dispositions.
Section 45a-487q. - Persons not subject to qualified dispositions.
Section 45a-487r. - Effect of avoidance of qualified dispositions.
Section 45a-487s. - Applicability of sections 45a-487k to 45a-487r to qualified dispositions.
Section 45a-487t. - Applicability of rules.
Section 45a-490. - Short title: Uniform Statutory Rule Against Perpetuities.
Section 45a-491. - Statutory rule against perpetuities.
Section 45a-492. - When nonvested property interest or power of appointment created.
Section 45a-493. - Reformation.
Section 45a-494. - Exclusions from statutory rule against perpetuities.
Section 45a-495. - Prospective application.
Section 45a-496. - Uniformity of application and construction.
Section 45a-499a. - Short title: “Connecticut Uniform Trust Code”.
Section 45a-499aa. - Creation of trust induced by fraud, duress or undue influence.
Section 45a-499aaa. - Duty to administer trust.
Section 45a-499bb. - Evidence of oral trust.
Section 45a-499bbb. - Duty of loyalty.
Section 45a-499c. - Definitions.
Section 45a-499cc. - Noncharitable trust without ascertainable beneficiary.
Section 45a-499ccc. - Impartiality.
Section 45a-499d. - Knowledge.
Section 45a-499dd. - Modification or termination of trust; proceedings for approval or disapproval.
Section 45a-499ddd. - Prudent administration.
Section 45a-499e. - Default and mandatory rules.
Section 45a-499ee. - Modification or termination of noncharitable irrevocable trust by consent.
Section 45a-499eee. - Delegation by trustee.
Section 45a-499f. - Common law of trusts; principles of equity.
Section 45a-499fff. - Creditor's claims against settlor.
Section 45a-499g. - Governing law.
Section 45a-499ggg. - Control and protection of trust property.
Section 45a-499h. - Principal place of administration.
Section 45a-499hh. - Limitation on court authority to apply cy pres.
Section 45a-499hhh. - Recordkeeping and identification of trust property.
Section 45a-499i. - Methods and waiver of notice.
Section 45a-499ii. - Modification or termination of uneconomic trust.
Section 45a-499iii. - Enforcement and defense of claims.
Section 45a-499j. - Others treated as qualified beneficiaries.
Section 45a-499jj. - Reformation of noncharitable trust to correct mistakes.
Section 45a-499jjj. - Collecting trust property.
Section 45a-499k. - Nonjudicial settlement agreements.
Section 45a-499kk. - Modification to achieve settlor's tax objectives.
Section 45a-499kkk. - Trustee's duty to inform and report.
Section 45a-499l. - Insurable interest of trustee.
Section 45a-499ll. - Combination and division of trusts.
Section 45a-499lll. - Discretionary powers; tax savings.
Section 45a-499m. - Role of court in administration of trust.
Section 45a-499mm. - Personal obligations of trustee.
Section 45a-499mmm. - General powers of trustee.
Section 45a-499n. - Jurisdiction over trustee and beneficiary.
Section 45a-499nnn. - Specific powers of trustee.
Section 45a-499o. - Subject matter jurisdiction of Probate Courts and the Superior Court.
Section 45a-499oo. - Revocation or amendment of revocable trust.
Section 45a-499ooo. - Distribution of trust property upon termination.
Section 45a-499pp. - Settlor's powers; powers of withdrawal.
Section 45a-499ppp. - Breach of trust.
Section 45a-499q. - Representation: Basic effect.
Section 45a-499qqq. - Damages in absence of breach.
Section 45a-499r. - Representation by holder of general testamentary power of appointment.
Section 45a-499rr. - Accepting or declining trusteeship.
Section 45a-499rrr. - Limitation of action against trustee.
Section 45a-499ss. - Trustee's bond.
Section 45a-499sss. - Reliance on trust instrument.
Section 45a-499t. - Appointment of representative.
Section 45a-499tt. - Cotrustees.
Section 45a-499ttt. - Event affecting administration or distribution.
Section 45a-499u. - Designated representative.
Section 45a-499uu. - Vacancy in trusteeship; appointment of successor.
Section 45a-499uuu. - Exculpation of trustee.
Section 45a-499v. - Methods of creating trust.
Section 45a-499vv. - Resignation of trustee.
Section 45a-499vvv. - Beneficiary's consent, release or ratification.
Section 45a-499w. - Requirements for creation.
Section 45a-499ww. - Removal of trustee.
Section 45a-499www. - Limitation on personal liability of trustee.
Section 45a-499x. - Trusts created in other jurisdictions.
Section 45a-499xx. - Delivery of property by former trustee.
Section 45a-499xxx. - Interest as general partner.
Section 45a-499y. - Trust purposes.
Section 45a-499yy. - Compensation of trustee.
Section 45a-499yyy. - Protection of person dealing with trustee.
Section 45a-499z. - Charitable purposes; enforcement; conversion to new entity.
Section 45a-499zz. - Reimbursement of expenses.
Section 45a-499zzz. - Certification of trust.
Section 45a-500. - Uniformity of application and construction of trust.
Section 45a-500a. - Severability clause.
Section 45a-500b. - Short title: Connecticut Uniform Directed Trust Act.
Section 45a-500c. - Application; principal place of administration.
Section 45a-500d. - Common law and principles of equity.
Section 45a-500e. - Exclusions.
Section 45a-500f. - Powers of trust director.
Section 45a-500g. - Limitations on trust director.
Section 45a-500h. - Duty and liability of trust director.
Section 45a-500i. - Duty and liability of directed trustee.
Section 45a-500j. - Duty to provide information to trust director or trustee.
Section 45a-500k. - No duty to monitor, inform or advise.
Section 45a-500l. - Application to cotrustee.
Section 45a-500m. - Limitation of action against trust director.
Section 45a-500n. - Defenses in action against trust director.
Section 45a-500o. - Jurisdiction over trust director.
Section 45a-500p. - Office of trust director.
Section 45a-500q. - Uniformity of application and construction.
Section 45a-500r. - Relation to Electronic Signatures in Global and National Commerce Act.
Section 45a-503. (Formerly Sec. 45-95). - Rule against perpetuities. “Second look” doctrine.
Section 45a-504. (Formerly Sec. 45-96). - Reduction of age contingency to preserve interest.
Section 45a-506. (Formerly Sec. 45-98). - Limitations not invalidated, when.
Section 45a-507. (Formerly Sec. 45-99). - Application of rule.
Section 45a-514. (Formerly Sec. 45-79). - Charitable trusts.
Section 45a-515. (Formerly Sec. 45-80). - Charitable uses determined by trustee, when.
Section 45a-516. (Formerly Sec. 45-81). - Gifts to charitable community trust.
Section 45a-520. (Formerly Sec. 45-79b). - Termination of charitable trusts.
Section 45a-535. - Short title: Uniform Prudent Management of Institutional Funds Act.
Section 45a-535a. - Definitions.
Section 45a-535b. - Standard of conduct in managing and investing institutional funds.
Section 45a-535d. - Delegation of management and investment of institutional fund.
Section 45a-535f. - Determination of compliance with act.
Section 45a-535g. - Application to existing institutional funds.
Section 45a-535h. - Relation of act to Electronic Signatures in Global and National Commerce Act.
Section 45a-535i. - Uniformity of application and construction of act.
Section 45a-540. (Formerly Secs. 45-100a to 45-100c). - Powers in trust instruments act.
Section 45a-541. - Short title: Connecticut Uniform Prudent Investor Act.
Section 45a-541a. - Prudent investor rule.
Section 45a-541b. - Standard of care. Portfolio strategy. Risk and return objectives.
Section 45a-541c. - Diversification.
Section 45a-541d. - Duties at inception of trusteeship.
Section 45a-541f. - Impartiality.
Section 45a-541g. - Investment costs.
Section 45a-541h. - Reviewing compliance.
Section 45a-541i. - Delegation of investment and management functions.
Section 45a-541j. - Language invoking standards of act.
Section 45a-541k. - Uniformity of application and construction.
Section 45a-541l. - Applicability.
Section 45a-542. - Short title: Connecticut Principal and Income Act.
Section 45a-542a. - Definitions.
Section 45a-542aa. - Transfers from income to reimburse principal.
Section 45a-542b. - Fiduciary duties.
Section 45a-542bb. - Income taxes.
Section 45a-542c. - Trustee's power to adjust.
Section 45a-542cc. - Adjustments between principal and income as result of taxes.
Section 45a-542dd. - Uniformity of application and construction.
Section 45a-542e. - Distribution to beneficiaries.
Section 45a-542ee. - Severability clause.
Section 45a-542f. - Right to income.
Section 45a-542ff. - Application to existing trust or decedent's estate.
Section 45a-542h. - Apportionment when income interest ends.
Section 45a-542i. - Character of receipts.
Section 45a-542j. - Distribution from trust or estate.
Section 45a-542k. - Business and other activities conducted by trustee.
Section 45a-542l. - Principal receipts.
Section 45a-542m. - Rental property.
Section 45a-542n. - Obligation to pay money.
Section 45a-542o. - Insurance policies and similar contracts.
Section 45a-542p. - Insubstantial allocations not required.
Section 45a-542q. - Deferred compensation, annuities and similar payments. Separate funds.
Section 45a-542r. - Liquidating asset.
Section 45a-542s. - Minerals, water and other natural resources.
Section 45a-542u. - Property not productive of income.
Section 45a-542v. - Derivatives and options.
Section 45a-542w. - Asset-backed securities.
Section 45a-542x. - Disbursements from income.
Section 45a-542y. - Disbursements from principal.
Section 45a-542z. - Transfers from income to principal for depreciation.
Section 45a-543. - Determination by court re abuse of discretion by fiduciary.