Uniform Trustees' Powers Act

In August 1964 the Uniform Law Commnission adopted the Uniform Trustees' Powers Act in response to a long felt need for legislative reform in the area of trustees' powers. The new act applies the "prudent man" concept to the entire field of trustees' powers, an approach proposed by Professor William F. Fratcher in an article published in 1962 entitled Trustees' Powers Legislation. Charles Horowitz, Esq., Chairman of the Uniform Law Commission's Special Committee which was responsible for drafting the new act, discusses the basic approach of the act and the changes the act will effect in the traditional law of trusts.