TRUST LAWS STUDY GROUP
James G. Houston III
Watkins & Eager PLLC
James R. Young
Wells Marble & Hurst PLLC
The Trust Laws Study Group was created in the summer of 2009 by the Secretary of State’s Office to consider needed changes to Mississippi’s trust laws. After meeting throughout the year, the Group recommended the adoption of the Uniform Prudent Management of Institutional Funds Act, the Uniform Principal and Income Act, several chapters of the Uniform Trust code, a statute recognizing self-settled spendthrift trusts, a proposed law allowing for so-called "dynasty" trusts, and a statute providing for virtural representation in legal proceedings involving trusts.
While these recommendations were not adopted by the Legislature during the 2010 Session, the Secretary of State's Office will ask the Legislature to consider key portions of the Group's recommendations in the 2011 Session.