A new uniform trust code will be submitted to the New York state legislature for its consideration. The new code will modernize New York's trust law, clarify existing law, and provide greater accessibility for out-of-state lawyers.  The proposed uniform trust code will be a default statute that a testator or settlor can elect not to apply.  According to Judge C. Raymond Radigan, with respect to the uniform trust code's provisions on the rights of creditors in the case of spendthrift or discretionary trusts, much of New York's law is retained and the uniform trust code provisions are not adopted by the committee submitting the legislation.  One important change is that a trust will be considered revocable or amendable by the settlor unless a contrary direction is given in the trust agreement. 

The uniform trust code will have retroactive effect covering existing trusts.