§ 7740.5 — Reformation to correct mistakes - UTC 415

Pennsylvania § 7740.5

• Jurisdiction: Pennsylvania
• Title 20: DECEDENTS, ESTATES AND FIDUCIARIES
• Ch. 77: TRUSTS
• Subch.: CREATION, VALIDITY, MODIFICATION

Text

The court may reform the terms of a trust, even if unambiguous, to conform to the settlor's probable intention if it is proved by clear and convincing evidence that both the settlor's intent and the terms of the trust were affected by a mistake of fact or law, whether in expression or inducement. The court may provide that the modification have retroactive effect.

Legislative History

(July 15, 2024, P.L.786, No.64, eff. 90 days) 2024 Amendment.See section 11 of Act 64 in the appendix to this title for special provisions relating to Uniform Trust Code. Cross References.Section 7740.5 is referred to in sections 7705, 7740 of this title.