Feb 282017

Does Alberta Need a New Trustee Act?

The Alberta Law Reform Institute (ALRI) has just released their Final Report 109 with recommendations on implementing a new Trustee Act in Alberta. Details can be found at www.alri.ualberta.ca/.

ALRI recommends clear, simple, and comprehensible legislation with its latest publication, Final Report 109 – A New Trustee Act for Alberta.

What is a Trust?

Trusts are used by many Albertans as a way to manage property and assets, both before and after death. Having modern and clear rules for setting up and handling trusts is important to allow Albertans to manage and distribute their property. The current Trustee Act is outdated and has not kept pace with the modern world.

A Trustee Act Tailored for Alberta

ALRI has just released Final Report No. 109 – A New Trustee Act for Alberta. The Report sets out ALRI’s final recommendations for new trustee legislation in Alberta. While based on the Uniform Law Conference of Canada’s Uniform Trustee Act, 2012, ALRI has tailored its recommendations to reflect Alberta’s trusts law and practice.

Recommendations Based on Extensive Consultation

ALRI has relied on the exceptionable feedback from the trusts and estates bar in the province in crafting the final recommendations. The Final Report is distinctly better with input of those trusts professionals who assisted by completing surveys, writing or calling with comments, and participating in presentations and discussions.

The Trustee Act is long overdue for modernization. ALRI is hopeful that new trustee legislation based on its recommendations will be enacted.

ALRI invites you to review Final Report No. 109 – A New Trustee Act for Alberta.