Index
Using the Index
References are to paragraph (¶) numbers, not pages. A reference such as 1220.05 is to ¶ 1220.05 in Chapter 12; a reference to a whole section, such as 1610, covers every subsection of that section. References beginning with a letter (for example D50.01) are to the Appendices. Each reference links to its paragraph.
Headings are arranged word by word. See directs the reader to the heading under which a subject is indexed; See also lists related headings. Cases and statutes are listed with their paragraph references in the Table of Cases and the Table of Statutes and Regulations.
A
A v. C decision, 1340.04, 1360.01, 1360.03, 1380.01, 1380.02, 1390.04
fiduciary status of protectors, 1340.05, 1350.01, 1350.02, 1350.03, 1350.05
Accounts and accountings, 3070.01, 3070.02, 3070.03
airdrops, 3570.01, 3570.02, 3570.03, 3570.04, 3570.05, 3570.06
conflict of laws, 470.05
controlling-trustee exception, 3070.05
distributing entity interests, 3070.07
federal income tax, 3070.06
fiduciary accounting income, 3070.04
Nevada, 470.05
Rollins decisions, 3030.05
staking and forks, 3570.01, 3570.02, 3570.03, 3570.04, 3570.05, 3570.06
Accumulation distributions
throwback rules, 4360.03, 4360.04, 4360.07, 4390.04
undistributed net income, 4360.03, 4360.05, 4360.07
See also Throwback rules
Actual intent to defraud, 3701.04
Adding and removing beneficiaries, 1260.01, 1280.04, 1280.07, 4020.07
adverse parties, 1280.07, 1380.07
power to terminate, 1260.04
powers of appointment, 1260.05
removal and replacement of trustees, 1260.03
uses of the power, 1260.02
Adopted children, 350.05, 1280.04, 1910.07, 4020.03, 4020.05, 4020.06, 4120.04
definitions article, 2490.01, 2490.02
family office rule, 2970.05, 2970.08
Investment Advisers Act, 2970.05, 2970.08
nonmarital children, 2420.01, 2420.02, 2420.03, 2420.04, 2420.05, 2420.06
Adverse parties, 350.05, 870.03, 870.06, 1280.03, 1280.07, 2850.06, 4010.03, 4020.08, 4120.03, 4120.05
adverse party, 4120.02
distribution advisers, 870.03, 4680.04
family members as advisers, 870.02, 870.06
family protector, 1380.07
foreign grantor trusts, 4350.02
McLean v. Ponder decision, 1220.06
nonadverse parties, 870.02, 1280.02, 1280.03, 4010.04
related or subordinate parties, 1410.08, 2850.06, 4010.04, 4010.07, 4420.03, 4430.04, 4680.04
removal and replacement of trustees, 350.04, 1220.06, 4430.04
retained powers, 350.04, 350.05
section 672(f), 4350.02
South Dakota, 3760.06
tax consequences of the protector's identity, 1380.05
Advisers. See Trust advisers
Advisors. See Trust advisers
Affordable Media decision, 1160.06, 1240.03
duress clauses, 330.06, 1290.04, 1290.06, 1480.03, 1480.06
Airdrops, 3540.03, 3590.01, 4670.07
Bitcoin and Ether, 3550.07, 3570.06
staking and forks, 3570.01, 3570.02, 3570.03, 3570.04, 3570.05, 3570.06
Alaska, 470.07, 470.08, 470.09, 760.06, 1760.03, 1920.09, 2030.02, 2230.04, 2540.07, 2660.05, 2750.07, 3770.02, 3770.04, 3780.01, 4160.04
Alaska Trust Act, 2050.06
Bankruptcy Code section 548(e), 3780.01
conflict of laws, 3770.02
decanting, 1790.04
Delaware section 3339, 1920.09
designated representatives, 2650.07
enforcers, 2750.07
exclusive jurisdiction, 3770.04
firewall statutes, 260.06
forced heirship, 260.06
mandatory distributions, 470.08, 2540.07
Nevada, 1210.01
New Hampshire trust law, 2650.07
South Dakota, 1230.02, 2660.05
trust protectors, 1120.06, 1320.09
Uniform Probate Code, 470.07
Uniform Trust Decanting Act, 1790.04
Wyoming Uniform Trust Code, 1210.01
Alimony. See Exception creditors
Alimony and support, 3830.08
Berlinger decision, 3860.01
child support claims, 3930.05
divorce and marital claims, 3630.04, 3850.01, 3850.05, 3890.05, 3901.02, 3901.04, 3910.04, 3930.01, 3930.02, 3930.03, 3930.04, 3930.06, 3950.07, 3960.02, 3970.03
equitable distribution, 3720.03, 3910.04
exception creditors, 3630.04, 3630.05, 3650.01, 3720.03, 3901.02, 3930.01, 3930.02, 3930.03, 3930.04, 3930.05, 3930.06
imputed income, 3850.05
Allocation of fiduciary functions, 960.01, 960.03
code's rules, 960.02
compared with delegation, 960.06
directed trust act's cotrustee provision, 960.04
excluded cotrustees, 960.05
excluded fiduciaries, 960.05
executor cases, 960.07
unbundling the trustee, 150.06
Annual exclusion, 4210.02
Crummey powers, 2330.06, 2370.04
decanting, 1780.07, 1801.02, 1850.06, C40.05, E30.04
dynasty trusts, 2370.04
incomplete-gift nongrantor trusts, 4130.05, 4130.08, 4130.09
Anti-Bartlett clauses
irreducible core, 3060.04
Jersey, 3060.03
underlying companies, 3060.01, 3060.02, 3060.04, 3060.05, 3060.06, 3060.07
Anti-money laundering, 2860.01, 2860.06
antiquities, 3480.04
cultural property rules, 3480.06
domestic and foreign trust classification, 3480.05
European Union, 3480.03
family office rule, 2860.03, 2860.04
family offices, 2860.02, 2860.03, 2860.04, 2860.07
freeports, 3480.01, 3480.02, 3480.03, 3480.04, 3480.05, 3480.06
holding out and names, 2860.05
Appointors, 1470.02, 1520.02, 1540.02, E20.03
Jersey, 1450.05
lapse of powers, 1450.04, 1450.05
Van Rooyen decision, 1340.03
Appraisals, 670.04, 2550.03, 3401.03, 3460.03, 3460.06, 4090.05
art and collectibles, 3440.07, 3450.02
buy-sell agreements, 3250.03, 3250.06
household and personal effects, 3460.02
intentionally defective grantor trusts, 4050.04, 4050.07
power of direction, 640.03, B20.01
power of substitution, 4030.05, 4030.06
sales to grantor trusts, 4050.04, 4050.07
special holdings, 840.03, 840.05, 3180.04
special-holdings advisers, 840.03, 840.05
Arbitration clauses, 2960.04, 4530.01, 4540.02, 4540.03
Arizona, 4530.04
confidentiality of trust litigation, 4540.06, 4580.03
dispute clauses, 1960.07
Florida, 4530.02
forum selection clauses, 570.06
mediation, 4580.03
minor and unborn beneficiaries, 2670.07, 4540.04, 4540.06
New Hampshire, 4530.06
New Hampshire trust law, 4530.06
no-contest clauses, 570.06, 4510.04, 4560.01, 4590.03
powers and remedies, 4540.05
Rachal decision, 4520.01, 4520.02, 4520.03
Schoneberger decision, 4520.01, 4520.02
South Dakota, 4530.05
South Dakota Trust Code, 4590.03
Wyoming, 4570.05
See also No-contest clauses
Arizona, 2240.06
arbitration clauses, 4520.02, 4530.04
Brown Bros. Harriman v. Benson decision, 2250.06
rule against perpetuities, 2250.06
Schoneberger decision, 4520.02, 4530.04
statutory menus, 1120.07
Wyoming Uniform Trust Code, 1120.07
Armitage v. Nurse decision, 520.02, 520.03, 520.04, 520.05, 520.06, 520.07
exculpation clauses, 540.02, 540.08, 1370.05
gross negligence, 540.02, 540.08, 550.04, 550.05, 550.06
irreducible core, 520.01, 520.02, 520.03, 520.04, 520.05, 520.06, 520.07, 3060.04
Art and collectibles
Bakalar v. Vavra decision, 3450.07
basis at death, 3440.06
collectibles tax rate, 3440.02
conflict of laws, 3450.03
holding costs, 3440.07
like-kind exchanges, 3440.05
look-through for entities and trusts, 3440.03
precious metals, 3440.01, 3440.04, 3440.08
provenance, 3450.01, 3450.02, 3450.03, 3450.04, 3450.05, 3450.06, 3450.07
retirement accounts, 3440.04
sale and charitable disposition, 3490.06
section 1031 exchanges, 3440.05
Ascertainable standards, 3830.08, 3890.02, 4260.05, 4410.06
authorized fiduciaries, C10.02
beneficiary as trustee, 2450.05, 3870.05, 4420.02
charitable trusts, C10.02
decanting, 1710.05, 1740.01, 1860.03
divorce and marital claims, 1860.05, 3890.05
independent trustees, 3890.05, 4290.01
South Dakota, 3840.03
Assisted reproduction
Astrue v. Capato decision, 2430.04
child of assisted reproduction, 2430.01, 2430.02, 2430.03, 2430.04, 2430.05
divorce and marital claims, 2430.02
Massachusetts, 2430.03
spendthrift provisions, 4640.01
Attorney-client privilege, 1001.01, 1080.01, 1080.03, 1080.04, 1080.06
consent-to-jurisdiction provisions, 1080.02
fiduciary exception, 1080.05
litigation and privilege, 2570.07
Automatic migration provisions, 1590.05, 4330.04
control test, 4330.06
domestic and foreign trust classification, 1250.06, 1580.04, 2080.03, 4310.03, 4330.05, 4330.06
inadvertent migration, 4330.01, 4330.02, 4330.03, 4330.04, 4330.07, 4330.08
trust migration, 1580.04, 2090.07, 4330.01, 4330.02, 4330.03, 4330.05, 4330.07, 4330.08, 4390.06
B
Bacardi v. White decision, 3860.01
Bad faith
Delaware Qualified Dispositions in Trusts Act, 3730.06
exculpation clauses, 540.01, 540.08, 880.02, 1370.02
gross negligence, 490.01, 540.08, 890.05, 1020.06
liability of trust directors, 1050.03, 1050.04
Mennen decisions, 880.02, 1050.03
qualified dispositions, 3730.06
willful misconduct, 1020.06
Bailments, 4670.07
court petitions and instructions, 3430.09
vault storage, 3430.01, 3430.02, 3430.03, 3430.04, 3430.05, 3430.06, 3430.07, 3430.08, 3430.09
Bankruptcy
Alaska, 3780.01
disclaimers, 3670.04
federal tax liens, 3670.01, 3670.02, 3670.03, 3670.04, 3670.05
no-contest clauses, 3670.01
solvency, 3780.01, 3780.02, 3780.03, 3780.04, 3780.05
spendthrift provisions, 3670.05
Basic exclusion amount, 4190.01, 4210.02, 4230.06
estate tax liquidity, 3260.01, 3260.03
exemption after 2025, 2330.03, 4230.01, 4230.03
grandfathered trusts, 2380.06, 2380.07
incomplete-gift nongrantor trusts, 4130.09, 4180.09
portability, 2330.03
statutory link, 2330.01
BDITs. See Beneficiary-deemed-owner trusts
Belize, 550.07, 970.06, 970.08, 1110.04, 1110.05, 1330.01, 1501.03, 1510.02, 1540.01, 1690.02, 1980.02, 2070.02, 2280.03, 2280.04, 2580.04, 2760.05
Affordable Media decision, 1290.06
appointors, 1450.05
Cayman Islands, 3160.05
charitable trusts, 1690.02
combination and division of trusts, 2110.11
confidentiality of trust litigation, 2580.04
duress clauses, 1290.06, 1480.05, 1540.06, 1550.02, 1560.05
events of duress, 1560.05
exculpation clauses, 550.08
farmland and ranches, 2790.07
firewall statutes, 260.05, 3980.04, 4570.04
forced heirship, 260.05
gross negligence, 550.07, 550.08
guardians ad litem, 2680.06, 2680.07
Jersey, 1110.09, 2180.04, 3160.05
lapse of powers, 1450.03, 1450.05
minor and unborn beneficiaries, 1690.02, 1980.02, 2680.07
Nevis, 1210.04, 1250.02, 1450.03, 2680.06
protector powers, 1110.09
qualified beneficiaries, 2110.11
rescission for mistake, 2180.04
rule against perpetuities, 2280.04
solvency, 1480.05, 1540.05, 3680.02
spendthrift provisions, 3680.02
trust migration, 2070.02
United Kingdom, 3980.04
veto powers, 1540.06
Beneficiary as trustee, 1850.05, 1860.03, 3820.04, 3830.08, 3890.02, 4420.02
ascertainable standards, 2450.05
decanting, 1740.08, 1860.03, 1890.03
divorce and marital claims, 3990.04, 4640.08
family bank, 3870.01, 3870.02, 3870.03, 3870.04, 3870.05, 3870.06, 3870.07, 3870.08, 4640.04
Beneficiary classes, 2410.03, 2410.04
choosing a method, 2410.06
class gifts, 2410.01
closing the class, 2410.08
default form of distribution, 2410.02
distribution advisers, 4190.07
distribution committees, 4190.07
half blood and relatives by marriage, 2410.07
per stirpes, 2410.05
special holdings, E10.03
special-holdings advisers, E10.03
Beneficiary-deemed-owner trusts, 1280.05, 4040.01, 4040.02, 4040.03, 4040.04, 4040.05, 4040.06, 4120.07
disclaimers, 4040.03
lapse of powers, 4040.05
Benefit-the-beneficiaries rule, 530.01, 530.02, 530.03, 530.05, 3001.03, 3760.02
authorization distinguished from elimination, 530.06
gross negligence, 450.03, 650.04
investment advisers, 530.04
Bird Charitable Trust decision, 1380.01
Bitcoin and Ether, 3560.07
airdrops, 3570.06
funding the trust, 3520.06
private keys, 3560.04
staking and forks, 3570.06
trustee with special skills, 3550.07
wallets and custody arrangements, 3520.06
Breach of trust, 670.04, 680.05, 2550.03, 3040.01
anti-Bartlett clauses, 3060.02, 3060.03
directed trustees, 1060.01, B30.02
duty to diversify, 3110.06, 3120.02
exculpation clauses, 540.01, 880.02, 1060.01
Mennen decisions, 880.02, 1050.03
removal of trustees by the court, 4480.02
British Virgin Islands, 2870.04, 3101.03
closely held businesses, 840.02, 4670.06
intervention calls, 3150.07
private trust companies, 2870.04, 2870.07
Saunders v. Vautier rule, 3150.09
special holdings, 3180.03, 3180.06
VISTA trusts, 2760.07, 3150.01, 3150.02, 3150.03, 3150.04, 3150.05, 3150.06, 3150.07, 3150.08, 3150.10
Brown Bros. Harriman v. Benson decision
North Carolina, 2230.06, 2250.03
rule against perpetuities, 2220.02, 2250.03, 2250.04, 2250.06
Uniform Statutory Rule Against Perpetuities, 2220.02, 2220.04
Business advisers
business trusts, 3290.01
closely held businesses, 3220.04, 3220.07, 4670.06
directed trusts for the business, 3230.06
offshore holding structures, 3280.07
S corporation stock, 3290.01
Business trusts, 2790.01
business advisers, 3290.01
closely held businesses, 3220.01, 4670.06
electing small business trusts, 3240.07, 3240.08
S corporation stock, 3020.04, 3020.05, 3230.04, 3240.01, 3240.04, 3240.07, 3240.08, 3240.09, 3270.04, 3290.01
Buy-sell agreements
bona fide business arrangement, 3250.05
Connelly decision, 3250.06, 3250.07
coordinating documents, 3290.02
functions of the agreement, 3250.01
redemption and cross-purchase agreements, 3250.02
statutory rule, 3250.04
trust as party, 3250.03
C
benefit-the-beneficiaries rule, 2030.05
California Probate Code, 410.03, 480.06
contingent beneficiaries, 280.07
discretionary support standards, 3650.07
exclusive jurisdiction, 4570.05
forum selection clauses, 4570.05
incomplete-gift nongrantor trusts, 4170.05, 4170.06, 4170.07
Kaestner decision, 280.07
law of administration, 490.06
marital property, 3910.03
material purpose doctrine, 480.07
New York and California ING rules, 4170.05, 4170.06, 4170.07
New York EPTL, 3650.08
no-contest clauses, 4550.03, 4560.01
payments to third parties, 3650.08
probable cause exception, 4550.03, 4560.01
qualified beneficiaries, 2540.12
separate property, 3910.03
Cayman Islands, 1110.08, 1150.02, 2760.02, 2870.02, 3160.02
Cayman STAR trusts, 2760.02
domestic and foreign trust classification, 2790.05, 2870.07
enforcers, 1170.04, 2760.02, 2770.02, 2770.03, 2770.04, 2770.05, 2770.06, 2790.07, 2880.04
Jersey, 3160.01, 3160.02, 3160.03, 3160.04, 3160.05, 3160.06
Nevis, 3160.04
noncharitable purpose trusts, 1170.04, 2780.07, 2790.05, 2880.04
private trust companies, 2870.02, 2870.03, 2870.07
standing to enforce trusts, 1110.08
Certification of trust, 1960.06, 3310.03, 3390.03
Change of governing law, 1520.06
Change of situs. See Trust migration
Charging orders, 3010.09
Charitable deductions
decanting, 1780.07, 1801.02, 4660.07, C40.05
reformation, 2170.05
Charitable remainder trusts
charitable trusts, 3170.07
Charitable trusts
ascertainable standards, C10.02
authorized fiduciaries, C10.02
charitable remainder trusts, 3170.07
cy pres, 1650.01, 1650.02, 1650.04, 1650.06
GST trust definition, 2340.04
hedging, 3170.07
honorary trusts, 2720.03
noncharitable purpose trusts, 2710.01, 2720.03
section 2632 allocation, 2340.04
settlor's standing, 360.03
standing to enforce trusts, 360.03
Child of assisted reproduction
assisted reproduction, 2430.01, 2430.02, 2430.03, 2430.04, 2430.05, 4640.01
Astrue v. Capato decision, 2430.04
divorce and marital claims, 2430.02
Massachusetts, 2430.03
Child support. See Exception creditors
Child support claims, 3830.08
alimony and support, 3850.05, 3930.01, 3930.02, 3930.05, 3930.06
divorce and marital claims, 3630.04, 3850.01, 3890.05, 3901.02, 3901.04, 3930.01, 3930.06, 3950.07, 3960.06
equitable distribution, 3720.03
exception creditors, 3630.01, 3630.04, 3630.05, 3630.08, 3650.01, 3720.03, 3820.05, 3901.02, 3930.02, 3930.05
Choice of law. See Governing law
Claflin doctrine, 120.03, 1610, 1610.01
material purpose doctrine, 120.03, 1610.01, 1610.02, 1610.03, 1610.04, 1610.05
adopted children, 2420.01, 2420.02, 2420.03, 2420.04
nonmarital children, 2420.01, 2420.02, 2420.03, 2420.04, 2420.06
Closely held businesses, 3220, 3220.07, 3250, 3270, 4410.06
concentrated positions, 4670.06
duty to diversify, 3220.02, 3220.03
family business clause, 3190.04
family councils, 2930.06
family governance, 2920.01, 2930.06
retention clauses, 3220.04
S corporation stock, 3020.04, 3020.05, 4670.06
special holdings, 840.02
special-holdings advisers, 840.02
trustee who serves the company, 3220.06
trustee's powers, 3220.01
voting and nonvoting interests, 3270.02, 3270.05
voting the shares, 3220.05
Collectibles. See Art and collectibles
Combination and division of trusts, 2101.02, 2101.05, 2110.02, 2150.03
Belize, 2110.11
Cook Islands, 2110.11
division into dissimilar trusts, 2110.04
gift and estate taxes, 2150.10
inclusion ratio, 2150.05, 2150.07
merger of trusts, 2110.03
Nevis, 2110.10
notice without consent, 2110.05
one transaction, several taxes, 2150.01
qualified severance, 2150.05
realization events, 2150.02
reformation, 1660.01, 1660.02, 1660.03, 1660.04, 1660.05, 2160.08
separate shares, 2150.04, 2150.09
South Dakota, 2110.07
Uniform Trust Code rule, 2110.01
Wyoming, 2110.06
Wyoming Uniform Trust Code, 2110.06
Common drafting errors, 1160.06, 1180.01, 4690.04
correction of drafting errors, 1270.02
errors of language, 4690.02
Minassian v. Rachins decision, 1270.03, 1340.06
reformation, 1660.05, 2160.05, 2170.07
review before signing, 4690.03
special holdings, 4690.01
special-holdings advisers, 4690.01
Common Reporting Standard
domestic and foreign trust classification, 4380.04, 4650.06
FATCA and CRS, 4380.01, 4380.03, 4380.06, 4380.07, 4380.08
Foreign Account Tax Compliance Act, 4380.01, 4380.02, 4380.03, 4380.04, 4380.05, 4380.06, 4380.07, 4380.08
foreign grantor trusts, 4380.02
trust situs and tax, 4380.05
Community property
basis at death, 4070.05, 4180.08
death of the spouse, 4280.05
divorce and marital claims, 3910.02, 3910.06
incomplete-gift nongrantor trusts, 4280.09
Lifetime QTIP trusts, 4280.01, 4280.03, 4280.04, 4280.05, 4280.06, 4280.07, 4280.08, 4280.09
marital property, 3910.02, 3910.03, 3910.06, 4110.08, 4280.01, 4280.02
qualified terminable interest property, 4280.03, 4280.04, 4280.06, 4280.07, 4280.08
transmutation, 4280.02
See also Marital property
Concentrated positions, 3170
charitable remainder trusts, 3170.07
charitable trusts, 3170.07
closely held businesses, 4670.06
hedging, 3170.01, 3170.02, 3170.03, 3170.04, 3170.05, 3170.06, 3170.08
Janes decision, 130.05
managerial trust, 130.05
S corporation stock, 4670.06
See also Special-holdings advisers
Conditions on marriage and religion
dead-hand control, 370.01, 370.02, 370.03, 370.05
divorce and marital claims, 2470.01
incentive trusts, 370.05, 2460.02
partial restraints on marriage, 2470.01
Shapira decision, 370.03
Confidentiality of trust litigation, 1501.03, 2580.07, 3560.07
arbitration clauses, 4530.01, 4530.03, 4530.07, 4540.06, 4590.03
confidentiality agreements, 2570.08
family councils, 2930.07
family governance, 2930.07
fee shifting, 4580.01, 4580.02, 4580.03
mediation, 4580.01, 4580.02, 4580.03
minor and unborn beneficiaries, 4540.06
silent trusts, 2590.05, 2590.06
South Dakota, 2540.05
Conflict of laws, 201.04, 230.03, 3510.06, 3770.01
art and collectibles, 3450.03
conflict-of-laws framework, 2010.01
design responses, 3770.05
exclusive jurisdiction, 3770.04
fraudulent transfers, 3770.03
law for the office, 1190.02
Nevada, 220.08, 470.05, 2050.04
Peierls decisions, 2040.01, 2040.02
provenance, 3450.03
Restatement (Second) of Conflict of Laws, 3770.02
Uniform Conflict of Laws in Trusts and Estates Act, 240.01, 240.02, 240.03, 240.04, 240.05, 240.06, 240.07
Conflicts of interest, 430.04, 2601.03, 2640, 2640.02, 2640.07, 2890.04
condition of every category, 2640.01
conflict of interest, 1920.05
contingent beneficiaries, 2630.03
Delaware, 2640.04
designated representatives, 2690.01
limited powers of appointment, 2630.03
materiality qualifier, 2640.03
recurring conflicts, 2640.06
South Dakota, 1920.08, 2640.05
special holdings, 840.06
Connecticut
Ferri v. Powell-Ferri decision, 1720.01
Hague Trusts Convention, 250.08
law of administration, 2010.06
Massachusetts decanting decisions, 1720.01
nonjudicial consent modification, 2010.06
United Kingdom, 250.08
Consent powers, 1240.03, 1360.01, 1360.03, 1390.04
application in American trusts, 1360.05
Bermuda, 1360.02
consent to additions, 1240.05
control test, 4320.03
direction and veto, 1130.03
direction, consent and veto, 940.06
domestic and foreign trust classification, 4320.03
duress clauses, 330.06
incomplete-gift nongrantor trusts, 4130.02
limits of the veto, 1240.04
negative power, 1240.01
power of direction, 330.01, 330.02, 330.03, 330.04, 330.05, 330.06, 330.07
Pugachev decision, 330.03
retained powers, 330.01
trust directors, 330.05
veto and the power of appointment, 3750.04
Conservation of objects, 3401.03
art and collectibles, 3440.07, 3490.06
conservation and care, 3470.03
Constructive trusts, 2190.02
combination and division of trusts, 2150.01, 2150.03, 2150.04, 2150.06, 2150.07, 2150.08
noncharitable purpose trusts, 2710.03, 2710.04
reformation, 2160.08
domestic and foreign trust classification, 2070.08, 3680.05
duress clauses, 330.06, 340.07, 1290.04, 1290.06, 1480.03, 1480.06, 1560.02, 3750.07
offshore protectors, 1570.01, 1570.02, 1570.03
repatriation orders, 1570.01
Contingent beneficiaries
conflicts of interest, 2630.03
incomplete-gift nongrantor trusts, 4130.02, 4130.03
limited powers of appointment, 2630.03
Control test, 1590.05, 2090.06, 4320
automatic migration provisions, 4330.01, 4330.04, 4330.06, 4330.07
domestic and foreign trust classification, 1580.01, 1580.03, 1580.05, 2080.03, 2790.05, 4301.05, 4310.02, 4320.01, 4320.02, 4320.03, 4320.04, 4320.06, 4320.07, 4320.08, 4330.06, 4650.06
foreign grantor trusts, 4320.07
inadvertent migration, 1580.05, 4330.01, 4330.07
investment advisers, 4320.05
substantial decisions, 1580.03, 4320.02, 4320.03
trust migration, 2070.01, 2070.06, 2070.07
Controllable electronic records, 3510.07, 3540.03
take-free rule, 3510.05
Uniform Commercial Code, 3510.02
Cook Islands, 1330.03, 1330.05, 1501.03, 1520.02, 1550.01, 2760.06
Belize, 2280.04
combination and division of trusts, 2110.11
Common Reporting Standard, 2580.06
confidentiality of trust litigation, 2580.06
duress clauses, 330.06, 1520.07, 1550.02, 1560.05
events of duress, 1560.05
firewall statutes, 260.03
forced heirship, 260.03
international trusts, 1690.04
Jersey, 1330.05
majority action by cotrustees, 1110.03
offshore protectors, 1570.01
power of direction, 330.06
qualified beneficiaries, 2110.11
repatriation orders, 1570.01
rule against perpetuities, 2280.04
spendthrift provisions, 3680.04
trust migration, 2070.04
Corporate trustees, 4410.04
designated relatives, 2830.08
exculpation clauses, 880.02
Mennen decisions, 880.02
Nevada, 2830.04
noncharitable purpose trusts, 2780.01
private trust companies, 2780.01, 2810.01, 2810.02, 2810.03, 2810.04, 2810.05, 2810.06, 2830.04, 2830.08, 4410.05, 4630.04
removal and replacement of trustees, 4430.02
unregulated trust companies, 2820.04
Cotrustees, 680.02, 680.05, 680.06, 990.04, 4460.03
allocation of fiduciary functions, 960.01, 960.02, 960.03, 960.04, 960.06, 960.07
control test, 4320.04
deadlock, 4450.05
Delaware, 3130.01
Delaware section 3313, 720.05
directed trustees, B30.01, B30.02, B30.03, B30.04
directed trustee's duties, 720.03, B30.03
domestic and foreign trust classification, 4320.04
excluded cotrustees, 720.01, 720.02, 720.03, 720.04, 720.05, 720.06, 720.07, 960.05, 3130.01, 3130.03, 3130.04, 3130.05, 3130.06, 3130.07, 3130.08
excluded fiduciaries, 720.01, 720.02, 720.04, 720.06, 720.07, 960.05, 3130.03, 3130.05, 3130.07, 3130.08
gross negligence, B30.01
majority action by cotrustees, 4450.03
removal of trustees by the court, 4480.03
trust directors, 680.07, B30.02
trustee bonds, 4450.02
Uniform Prudent Investor Act, 3130.02
Court petitions and instructions, 950.04, 1620.04, 3430.09, 3560.07
approval under subsection (e), 1960.05
authorized fiduciaries, C20.01, C20.03
decanting, 1730.07, C20.01, C20.03
directed trustees, 660.08, 1040.07, B30.01
ratification and consent, 2140.06
vault storage, 3430.09
Court test
automatic migration provisions, 1580.04, 4330.07
domestic and foreign trust classification, 1580.01, 1580.05, 1880.03, 1880.05, 2070.05, 2080.03, 2790.05, 4301.05, 4310.01, 4310.02, 4310.03, 4310.04, 4310.05, 4310.06, 4310.07, 4330.05, 4650.06
Illinois, 4310.06
inadvertent migration, 1580.05, 4330.07
Treasury Regulations section 301.7701-7, 1250.05, 2080.03, 4310.04
trust migration, 1580.04, 2070.01, 2070.05, 2070.06, 2070.07, 4330.05
Credit shelter trusts, 3820.04
Crummey powers, 4040.03, 4040.04, 4040.05, 4210.02
annual exclusion, 2330.06, 2370.04
decanting, 1780.07, 1801.02, 1850.06, C40.05, E30.04
dynasty trusts, 2370.04, 2370.05, 2390.05
incomplete-gift nongrantor trusts, 4130.05, 4130.08, 4130.09
Cryptocurrency. See Digital assets
Custody and vaulting, 3430.01, 3430.02, 3430.03, 3430.04, 3430.05, 3430.06, 3430.07, 3430.08, 3430.09, 3540.01, 3540.03
anti-money laundering, 3480.01, 3480.02
antiquities, 3480.04
court petitions and instructions, 3430.09
custody standards, 3490.04
delegation of custody, 3410.08
directed custody, 3540.07
European Union, 3480.03
exchanges and custodians, 3540.02
freeports, 3480.01, 3480.02, 3480.03, 3480.04, 3480.05, 3480.06
key succession clause, 3590.03
multisignature arrangements, 3540.06
platform custody, 3540.05
precious metals, 3420.04
private keys, 3540.06
terms decide ownership, 3560.02
vault storage, 3430.01, 3430.02, 3430.03, 3430.04, 3430.05, 3430.06, 3430.07, 3430.08
Wyoming, 3540.04
Cy pres, 1650.03
charitable trusts, 1650.01
gifts over on failure, 1650.02
spendthrift provisions, 1650.06
D
DAPTs. See Self-settled trusts
Dead-hand control
capricious purposes, 370.04
competing values, 370.01
conditions on marriage and religion, 370.03
incentive trusts, 370.05
mandatory rules, 501.03, 580.04
public policy limit, 370.02
Shapira decision, 370.03
Deadlock, 1360.04, 1460, 1490, 1490.01
Bermuda, 1360.02
coordination with other provisions, 1490.02
Jersey, 1360.02
Death of the spouse, 2440.05, 4210.02, 4210.04, 4230.06, 4260.07, 4290.05
divorce and marital claims, 1860.05, 4270.01, 4270.02, 4270.03, 4270.04
floating spouse, 4270.01, 4270.02, 4270.03, 4270.04, 4270.05
Lifetime QTIP trusts, 4280.03, 4280.04, 4280.05, 4280.07, 4280.08, 4280.09
qualified terminable interest property, 4280.03, 4280.04, 4280.05, 4280.07, 4280.08
Decanting, 160.05, 160.06, 460.07, 1701.03, 1710, 1720, 1730, 1740, 1740.02, 1740.05, 1750, 1760, 1780.08, 1801.02, 1870.03, 2060.03, 2130.05, 4110.07, C10.04, C30.02, C40.01
Alaska, 1790.04
ascertainable standards, 1740.01, C10.02
at the settlor's request, 1770.03
authorized fiduciaries, 1730.03, C10.02, C20.01, C20.03, C30.01
Delaware, E30.02
Delaware section 3528, E30.02
Delaware tax trap, 2260.05
domestic and foreign trust classification, 1880.02
duty of impartiality, 1770.02
exculpation clauses, 480.13
Ferri v. Powell-Ferri decision, 1720.01
independent trustees, 1790.03
into grantor-trust status, 1840.02
liability and its limits, 1770.05
limits that cannot be decanted away, 1780.07
Massachusetts, 1710.05, 1720.01, 1720.02
nonjudicial settlement agreements, 450.10, 2060.02, 4660.04
notice to beneficiaries, C20.01
organizing distinction, 1801.04
out of grantor-trust status, 1840.03
Peierls decisions, 2060.06
powers of appointment, 1850.06
realization events, 1830.06
recent and directed-trust acts, A50.02
remainder beneficiaries, C30.01
rule against perpetuities, 1780.04, 2260.05
separate shares, 1820.05
special-needs trusts, 1740.07, C30.03
Texas, 480.13
trust migration, 4660.01, 4660.02, 4660.03, 4660.04, 4660.05, 4660.06, 4660.07
Uniform Trust Decanting Act, 1730.01, 1730.03, 1730.04, 1730.05, 1730.06, 1730.07, 1730.08, 1730.09, 1730.10, 1790.04, E30.03, E30.04
See also Modification of trusts; Nonjudicial settlement agreements
Default rules, 4460.01
duty to diversify, 3110.05
mandatory rules, 101.04, 501.04
protector committees, 1460.02
Delaware, 710.09, 850.03, 1070.03, 1120.05, 1670.02, 1920.07, 1940.03, 2040.01, 2130.03, 2130.04, 2230.03, 2750.02, 2830.07, 2850.07, 3550.04, 3650.02, 3840.06, 4060.03, 4440.02, 4550.05, E10.03
combination and division of trusts, 2110.08, 2110.09
conflicts of interest, 2640.04
Delaware Court of Chancery, 270.07, 1670.03, 1940.03
Delaware Family Trust Company Act, 2830.07, 2850.07
Delaware section 3303, 850.03, 2540.02
Delaware section 3313, 710.09, 940.05, 1120.05, 1320.05
Delaware section 3339, 1920.07, 2540.03, 2650.03
Delaware section 3528, 1760.05, E30.02
Delaware tax trap, 2260.03, 2260.04
designated representatives, 2540.03, 2540.13, 2590.06, 2650.02, 2650.03
disclaimers, 2110.08
duty to diversify, 3550.04
enforcers, 2750.02
excluded cotrustees, 3130.01
excluded fiduciaries, 3130.01
exclusive jurisdiction, 270.07
exculpation clauses, 1370.03
fiduciary powers, 1320.05
full faith and credit, 270.02
grandfathered trusts, 2380.07
gross negligence, 610.06
Hanson v. Denckla decision, 270.02
incapacity, 2650.02
law of administration, 2040.01, 2050.02, 4620.07
limited powers of appointment, 2260.03, 2380.07
no-contest clauses, 4550.05, 4590.03
nonjudicial settlement agreements, 1670.04, E40.03
quiet periods, 2540.02, 2540.13
Delaware Court of Chancery
Delaware, 270.07, 1670.03, 1940.03, 2750.02, 3550.04
exclusive jurisdiction, 3770.04, 4570.03
Florida, 270.07
forum selection clauses, 3730.07, 4570.03
Delaware Family Trust Company Act
private trust companies, 2810.01, 2830.01, 2830.08
Tennessee, 2830.07
Delaware Qualified Dispositions in Trusts Act, 450.12, 3750.03
bad faith, 3730.06
exclusive jurisdiction, 3770.04, 4570.03
forum selection clauses, 3730.07, 4570.03
investment advisers, 3730.03, 3750.06
qualified dispositions, 3730.01, 3730.03, 3730.04, 3730.05, 3730.06, 3730.07
qualified trustees, 3730.02
Delaware section 3303, 450.12
Delaware, 850.03, 2540.02, 2540.03, 2650.03
designated representatives, 450.05, 2540.03, 2650.03, 2670.01
duty to diversify, 820.05
investment committees, 820.05
Delaware section 3313, 710.01, 710.02
consent and disapproval, 710.05
Delaware, 710.09, 940.05, 1120.05, 1320.05
directed trustees, 450.04, 1030.01, 1040.04, B30.03
directed trustee's duties, 710.07, 720.03, 1020.01, B30.03
excluded cotrustees, 720.02, 720.03, 720.04, 720.05, 720.07, 3130.06, 3130.07
excluded fiduciaries, 720.02, 720.04, 720.05, 720.07, 3130.07, 3140.06
fiduciary status of the adviser, 710.03
gross negligence, 610.06, 710.04, 780.01, 1020.01, 1020.06
investment advisers, 1030.01, 3130.06
investment decisions defined, 710.06
Nevada, 850.05
personal jurisdiction over trustees, 710.09
protectors as advisers, 710.08
trust directors, 950.07, 1050.04, A10.01
Uniform Directed Trust Act, 150.04, 3140.06, A10.01
Delaware section 3339
Delaware, 1920.07, 2540.03, 2650.02, 2650.03
designated representatives, 450.05, 560.06, 1170.07, 2540.03, 2590.06, 2650.02, 2650.03, 2650.08, 2650.09
Delaware section 3528, C50.02
decanting, 450.10, 1701.04, 1740.08, 1760.07, 1770.01, 1770.05, 1780.04, 1790.04, 1801.04, 2130.05, 4660.03, 4660.07, A20.01, C10.04, E30.02, E30.04
rule against perpetuities, 1780.04, C50.01
Delaware tax trap, 2260.02
decanting, 2260.05
dynasty trusts, 2260.01
generation-skipping transfer tax, 2260.06
rule against perpetuities, 2260.05
Delegation, 910, 910.03, 920, 930, 940, 950, 960, 970, 970.08, 980, 980.02, 980.03, 980.05, 990, 990.02, 1530.06, 3410.08
allocation of fiduciary functions, 960.06
Belize, 970.06
comparison with the Uniform Trust Code, 970.05
duty of prudence, 910.05
English starting point, 970.01
leases and property management, 3360.03
mixed structures, 980.08
Nevis, 970.07
prudent investor rule, 910.02, 910.04, 910.06, 920.01, 920.02, 920.03, 920.04, 920.05, 920.06
review and liability, 970.04
situs and governing law, 980.06
tax considerations, 980.07
terms and asset management, 970.03
trust directors, 950.07
Uniform Prudent Investor Act, 910.02, 910.04, 910.05, 910.06, 920.01, 920.02, 920.03, 920.04, 920.05, 920.06
United Kingdom, 970.02
without abdication, 930.01
Designated representatives, 450.05, 2650, 2650.01, 2660, 2670, 2690, 4670.03
Alaska, 2650.07
conflicts of interest, 2690.01
court's supervisory jurisdiction, 560.06
Delaware, 2540.03, 2540.13, 2650.02, 2650.03
Delaware section 3339, 2650.03
enforcers, 1170.07
New Hampshire trust law, 2650.07
quiet periods, 2590.06
silent trusts, 2590.06, 2670.01
South Dakota, 2650.04
special holdings, E10.03
special-holdings advisers, E10.03
states without a provision, 2650.08
See also Virtual representation
Digital assets, 3501.02, 3510, 3510.01, 3510.04, 3520, 3530, 3540, 3550, 3560, 3560.01, 3570, 3580, 3590, 4670.07
administration clause, 3590.02
Bitcoin and Ether, 3550.07
conflict of laws, 3510.06
control under section 12-105, 3510.03
controllable electronic records, 3510.02, 3510.05, 3510.07
entities holding, 3580.06
offshore trustees holding, 3580.04
special holdings, 840.04
special-holdings advisers, 840.04
Uniform Commercial Code, 3510.02
Wyoming, 3510.08
DINGs. See Incomplete-gift nongrantor trusts
Direct benefits estoppel
arbitration clauses, 2960.04, 4520.02, 4530.01, 4530.07
Schoneberger decision, 4520.02
Direct skips, 1890.02, 2310.06, 2340.01
deemed allocation to lifetime, 2340.03
estate tax inclusion period, 2350.01, 2350.06
inclusion ratio, 2350.01, 2350.06
skip persons, 2310.01, 2320.03, 2360.05
taxable amount and who pays, 2310.04
taxable terminations, 2310.01
Directed trustees, 610.07, 660.01, 690.03, 690.05, 760.03, 780.04, 880.03, 1030.02, 1030.03, 1030.04, 1040.01, 1040.03, 1040.04, 1040.05, 1040.08, 1530.05, B30.04
affirmative duty to comply, 660.04
conforming the Uniform Trust Code, 660.09
court petitions and instructions, 660.08, 1040.07
Delaware section 3313, 450.04, 1020.01
directed trustee's duties, 660.02, 660.03, 901.03, 940.02, 1030.01, B30.03
directions outside the power, 660.05
exculpation clauses, 1060.01
executing the direction, 1040.02
gross negligence, 660.03, 710.04, 1020.01, B30.01
investment advisers, 660.10, 1030.01
legislative response, 1030.05
limits on releases, 660.07
Missouri, 660.10
power of direction, 620.04
reasonable action, 660.06
reports to beneficiaries, 1040.06
trust directors, 620.04, B30.02, B30.03
Directed trustee's duties, 670.04, 670.06, 670.08, 901.03, 940.07, 1160.03, 1190.03
Delaware section 3313, 710.07, 1020.01
directed trustees, 660.07, 660.10, 940.02, 1030.01, 1040.05, 1040.07, 1530.05, B30.01, B30.02, B30.03
duty to warn, 670.05
excluded cotrustees, 720.03
excluded fiduciaries, 720.03
exculpation clauses, 540.08, 590.07, 1060.05
gross negligence, 470.02, 540.08, 610.06, 650.04, 660.02, 660.03, 1020.01, 1020.06, 1090.05, B30.01
investment advisers, 660.10, 1030.01
no duty to monitor, 940.03
trust directors, 650.04, 780.03, 1050.07, 1090.05, B30.02, B30.03
unbundling the trustee, 150.04
Directed trusts, 460.03, 601.05, 610, 620, 630, 640, 650, 660, 670, 680, 690, 850.02, 940, 950, 960, 980, 990, 1090.02, 1950.06, 4320.05
allocation of fiduciary functions, 960.04
benefit-the-beneficiaries rule, 530.04
business advisers, 3230.06
coordination with the directed-trust provisions, 3590.05
court petitions and instructions, 660.08, 1040.07
Delaware section 3313, 450.04, 1020.01
directed trustees, 450.04, 620.04, 660.01, 660.04, 660.05, 660.06, 660.07, 660.08, 660.09, 660.10, 760.03, 880.03, 940.02, 1030.01, 1030.02, 1030.03, 1030.04, 1030.05, 1040.01, 1040.02, 1040.03, 1040.04, 1040.05, 1040.06, 1040.07, 1040.08, 1060.01, 1530.05, B30.01, B30.02, B30.03, B30.04
directed trustee's duties, 660.02, 660.03, 940.02, 940.03, B30.03
direction, consent and veto, 940.06
direction provisions, 990.03
distribution advisers, 830.03
excluded cotrustees, 720.01, 3130.04
excluded fiduciaries, 720.01, 3140.06
exculpation clauses, 1060.01
family governance, 2940.02
form of directions, 690.04
gross negligence, 610.06, 660.03, 1020.01, B30.01
investment advisers, 530.04, 660.10, 1030.01, 4320.05
mandatory rules, 420.04
no floor for following directions, 730.04
power of direction, 330.01, 330.02, 330.03, 330.04, 330.05, 330.06, 330.07, 620.02, 640.01, 640.02, 640.03, 640.04, 640.05, 640.06, 640.07, 830.03, B10.02
special holdings, 3190.02, E10.03
special-holdings advisers, 3190.02, E10.03
trust directors, 330.05, 620.04, 950.07, 1140.01, 1210.05, 2940.02, A10.01, B10.02, B30.02
unbundling the trustee, 150.03, 150.04
Uniform Directed Trust Act, 150.04, 610.08, 1010.05, 1140.01, 1140.02, 1140.03, 1140.04, 1140.05, 1140.06, 1210.05, 1320.03, 3140.06, A10.01
veto distinguished from direction, 1010.04, 1240.02
VISTA trusts, 3150.03
willful misconduct, 610.06, 660.02
Wyoming Uniform Trust Code, 750.07
See also Delegation; Excluded fiduciaries; Trust directors
Directors, trust. See Trust directors
environmental liability, 3370.05, 3390.02
federal tax liens, 3670.04
material purpose doctrine, 1930.05
Discretionary interests, 3750.02, 3810, 3820, 3830, 3840, 3850, 3860, 3880, 3890
alimony and support, 3850.05
discretionary trust, 3810.04
divorce and marital claims, 3850.01, 3850.04
federal tax liens, 3670.02
Florida, 3840.09
imputed income, 3850.05
marital property, 3850.02
Nevada, 3840.09
Pfannenstiehl decision, 3850.03
separate property, 3850.02
sole and absolute discretion, 2450.07
See also Divorce and marital claims
Discretionary support standards, 3830.08
Disinheritance
dynasty trusts, 2480.04
no-contest clauses, 2480.02, 4550.01
special-needs trusts, 2480.01, 2480.02, 2480.03, 2480.04, 2480.05, 2480.06
Distributable net income, 4190.05
decanting, 1820.01, 1820.05, 1890.03
domestic and foreign trust classification, 4301.05, 4360.02
family bank, 4360.06
incomplete-gift nongrantor trusts, 4160.05, 4170.06
interest charge on accumulations, 4360.04
separate shares, 1820.05, 2150.04
throwback rules, 4301.05, 4360.01, 4360.03, 4360.04, 4360.05, 4360.07
undistributed net income, 4360.01, 4360.02, 4360.03, 4360.05, 4360.07
use of trust property, 4360.06
Distribution advisers, 830, 830.01, 830.05, 870.03, 890.03
adverse parties, 4680.04
decanting, E30.04
distribution committees, 2840.03, 2940.07, 4190.07
family governance, 2940.07
family members as advisers, 870.03
forms of the power, 830.02
nonfiduciary distribution powers, 830.04
nonfiduciary powers, 830.03
power of direction, 830.03
related or subordinate parties, 4680.04
special holdings, E10.03
special-holdings advisers, E10.03
Uniform Trust Decanting Act, E30.04
Distribution committees, 4140
2007 reconsideration, 4140.03
2013 resolution, 4140.04
distribution advisers, 2840.03, 2940.07, 4190.07
dynasty trusts, 2910.02
facts of the proposed ruling, 2850.03
family governance, 2940.07
incomplete-gift nongrantor trusts, 4130.06
members' exposure, 4140.01
private letter rulings, 4140.05
replacement provisions, 4140.06
statutory exceptions, 4140.02
trustee meetings, 2840.09
unanimous member powers, 4130.06
Distribution standards, 1950.08, 2450, 2450.03
ascertainable standards, 2450.05
beneficiary as trustee, 2450.05
beneficiary's other resources, 2450.04
good faith as the floor, 2450.02
range of standards, 2450.01
sole and absolute discretion, 2450.07
spendthrift provisions, 4640.03
statutory safety net, 2450.06
third-party trusts, 3950.03
Distributions in kind
decanting, 1820.03
distribution in kind, 3470.07
family use and distribution in kind, 3490.05
Diversification. See Duty to diversify
Divorce and marital claims, 3901.04, 3910, 3910.01, 3910.05, 3920, 3930, 3940, 3950, 3960, 3970, 3980, 3990, 3990.04
active appreciation, 3920.02
alimony and support, 3850.05, 3930.01, 3930.02, 3930.03, 3930.04, 3930.06
Berlinger decision, 3860.01
child support claims, 3930.05
community property, 3910.02, 3910.06
conditions on marriage and religion, 2470.01
Dahl decision, 3940.02
death of the spouse, 4270.01, 4270.02, 4270.03, 4270.04
divorcing spouse, 3850.01
equitable distribution, 3720.03, 3910.04
exception creditors, 3630.04, 3720.03, 3901.02, 3930.01, 3930.02, 3930.03, 3930.04, 3930.05, 3930.06, 3950.07
Ferri v. Powell-Ferri decision, 1720.01
floating spouse, 4270.01, 4270.02, 4270.03, 4270.04, 4270.05
Lifetime QTIP trusts, 2320.07
marital property, 3850.02, 3910.02, 3910.03, 3910.06, 3910.07, 3920.01, 3920.05, 3940.04
marital trusts and other deduction trusts, 1860.05
Massachusetts, 1720.01, 1720.02
partial restraints on marriage, 2470.01
Pfannenstiehl decision, 3850.03
premarital agreements, 3960.01, 3960.02, 3960.03, 3960.04, 3960.05, 3960.06
qualified terminable interest property, 2320.07
retirement accounts, 2440.04, 3970.07
revocation on divorce, 2440.03
section 672(e) spousal attribution, 3970.04
self-settled trusts, 3940.04
separate property, 3850.02, 3910.03, 3960.04, 3960.06
spousal lifetime access trusts, 3970.01, 3970.02, 3970.03, 3970.04, 3970.05, 3970.06
spouses and divorce, 3890.04
third-party trusts, 3950.06, 3950.07
transmutation, 3910.07, 3920.01, 3920.02, 3920.05
See also Spousal lifetime access trusts
Domestic and foreign trust classification, 1580.01, 1880.05, 2080.05, 4320, 4340.06, 4370.01, 4370.03, 4370.06
anti-money laundering, 3480.05
automatic migration provisions, 1580.04, 4330.06, 4330.07, 4330.08
Canada, 4390.01
Common Reporting Standard, 4380.04
control test, 4320.01, 4320.02, 4320.03, 4320.04, 4320.06, 4320.07, 4320.08, 4330.06
cost of becoming foreign, 1880.04
court test, 4310.01, 4310.02, 4310.03, 4310.04, 4310.05, 4310.06, 4310.07, 4330.05
decanting, 1880.02
distributable net income, 4360.02
Foreign Account Tax Compliance Act, 4380.04, 4380.07
foreign grantor trusts, 4320.07
foreign trusts, 1880.03
foreign trusts holding United States land, 3380.03
freeports, 3480.05
Illinois, 4310.06
inadvertent migration, 1580.05, 4330.07, 4330.08
investment advisers, 4320.05
protector powers, 1580.02
spendthrift provisions, 3680.05
state income taxation of trusts, 1880.01
substantial decisions, 1580.02, 1580.03, 2080.03, 4320.02, 4320.03
throwback rules, 4301.02, 4301.05, 4390.04
Treasury Regulations section 301.7701-7, 2080.03, 4310.04
trust migration, 1580.04, 2070.03, 2070.05, 2070.08, 4330.05, 4390.01, 4390.04, 4390.06
trusts with foreign beneficiaries, 3380.04
undistributed net income, 4360.02
United States persons, 4301.05, 4320.01, 4320.05, 4320.08, 4390.06
See also Throwback rules
Domestic asset protection trusts, 1120.01
See also Self-settled trusts
Due process, 2620.02
competent adult, 2620.03
Hansberry v. Lee decision, 2620.01
minor and unborn beneficiaries, 2610.04, 2620.01, 2620.04
objection rule, 2620.04
Duress clauses, 1480.02, 1480.06, 1560.01
automatic removal of the protector, 1560.03
Belize, 1290.06, 1540.06, 1550.02, 1560.05
consequences of section 38(2), 1560.04
Cook Islands, 1520.07, 1560.05
events of duress, 330.06, 1290.04
flight and the protector's office, 1480.04
flight clauses, 1560.06
Nevis, 1550.02, 1560.02, 1560.06
offshore protectors, 1570.01
power of direction, 330.06
protectors and duress, 3750.07
repatriation orders, 1570.01
retained powers, 340.07
settlor as protector, 1480.03
solvency, 1480.05
spendthrift provisions, 340.07
succession as protection, 1480.01
Duty of impartiality, 850.01, 2840.01, 3210.04, 4090.05
arbitration clauses, 570.06, 4510.04, 4540.03, 4540.06
McNeil v. McNeil decision, 450.08, 450.09
no-contest clauses, 570.06, 4510.04
nonfiduciary powers, 4030.02, 4030.03, 4110.06
power of substitution, 4030.02, 4030.03, 4030.06
total return trusts, 3410.04
trustee bonds, 2140.03
Duty of loyalty
fiduciary status of protectors, 1340.05, 1350.02
loyalty and compensation, 2140.04
self-dealing, 2570.03
Duty of prudence, 970.08, 3040.01
benefit-the-beneficiaries rule, 530.05, 530.06
concentrated positions, 130.05
leases and property management, 3360.02
managerial trust, 130.02, 130.05
Duty to diversify, 3050.02, 3050.05, 3410.03, 3490.02, 3550.03
authority in the instrument, 3050.04
Cayman Islands, 3160.06
closely held businesses, 3220.02, 3220.03
cost of retention, 3050.03
default duty, 3050.01
default rule and its alteration, 3110.05
Delaware, 3550.04
duty at inception, 3110.04
illiquidity and the beneficiaries' needs, 3050.06
investment advisers, 820.05
investment committees, 820.05
Janes decision, 3110.06
Jersey, 3160.06
Ohio, 3120.02
portfolio standard, 3110.02
retention clauses, 3120.02, 3120.04, 3550.04
special circumstances recognized by the comment, 3110.03
statutory rule, 3110.01
Duty to inform and report
duty to inform at common law, 430.06, 510.06, 2510.01, 2510.02, 2510.03, 2510.04, 2510.05, 2510.06
information rights and duties, 1390.05
mandatory rules, 510.06
Duty to inform at common law, 670.04, 2510.03, 2510.04, 2550.03
duty to inform, 430.06
floor beneath the terms, 2510.02
letters of wishes, 390.03
mandatory rules, 510.06, A40.01
reports in practice, 2510.06
Restatement (Second) formulation, 2510.01
Restatement (Third), 2510.05
Dynasty trusts, 2290, 2330.05, 2370.01, 2390.03, 2390.05, 2910.03
annual exclusion, 2370.04
choosing trustees for GST administration, 2390.04
cost of governance failure, 2910.04
Crummey powers, 2370.04
Daniel Kloiber Dynasty Trust decision, 260.07
Delaware tax trap, 2260.01
disinheritance, 2480.04
distribution committees, 2910.02
family governance, 2910.05
forced heirship, 260.07
gifts of appreciating or discounted property, 2370.02
inclusion ratio, 2390.06
life insurance, 2370.05
paying the trust's income tax, 2370.06
retained powers, 2370.03
special-needs trusts, 2480.04
state GST taxes, 2390.01
See also Generation-skipping transfer tax
E
Electing small business trusts
business trusts, 3240.07, 3240.08, 3290.01
S corporation stock, 3020.04, 3020.05, 3230.04, 3240.01, 3240.04, 3240.07, 3240.08, 3240.09, 3270.04
Employee Retirement Income Security Act
divorce and marital claims, 2440.04
retirement accounts, 2440.04
Enforcers, 1170.01, 1170.02, 1170.03, 1170.06, 2740.05, 2770, 2770.01, 2770.02, 2770.03, 2770.04, 2770.05, 2770.07
Alaska, 2750.07
Belize, 2790.07
Cayman Islands, 2760.02
Cayman STAR trusts, 2760.02
compensation and jurisdiction, 2770.08
Delaware, 2750.02
designated representatives, 1170.07
farmland and ranches, 2790.07
hybrid purpose trusts, 2780.07
Jersey, 2760.03
noncharitable purpose trusts, 1170.04, 2750.07, 2780.07, 2880.04
protectors and other non-beneficiary, 570.05
South Dakota, 2750.03
South Dakota Trust Code, 2750.03
trust directors, 1170.05
vacancy and succession, 2770.06
VISTA trusts, 2760.07
Environmental liability, 3370.03, 3390.02
1996 fiduciary provision, 3370.02
inspection before acceptance, 3370.06
owner liability under the federal statute, 3370.01
safe harbor, 3370.04
trust code, 3370.05
Equitable deviation, 1640.02
administrative terms that have become wasteful, 1640.04
circumstances existing at creation, 1640.03
qualified beneficiaries, 4480.05
removal of trustees by the court, 4480.05
special-needs trusts, 1640.06
spendthrift provisions, 1640.05
Stuchell decision, 1640.06
traditional doctrine, 1640.01
unanticipated circumstances, 310.07
Equitable distribution
child support claims, 3720.03
divorce and marital claims, 3910.04, 3910.05, 3910.07, 3920.02, 3920.05, 3940.04, 3950.07, 4270.03
exception creditors, 3720.03
Estate of Levy decision, 4240.03
Estate tax, 870.05, 1860, 1860.01, 2420.01, 2850.04, 3080.01, 3260.01, 3260.03, 3260.04, 3760.04, 3760.05, 4210.05
2022 proposal on includible gifts, 4230.04
adopted children, 2420.01
combination and division of trusts, 2150.07, 2150.10
distribution committees, 4140.05
estate inclusion, 4180.07
exclusion for the beneficiary spouse, 4210.06
family members as advisers, 870.05
Foreign Account Tax Compliance Act, 4380.05
grandfathered trusts, 2380.06
inclusion ratio, 2150.07, 2350.01, 2350.02, 2350.03, 2350.04, 2350.05, 2350.06, 2350.07, 2390.06
intended inclusion, 1860.04
nonfiduciary powers, 4030.03
power of substitution, 4030.03
private letter rulings, 4140.05
trust situs and tax, 4380.05
Estate tax apportionment, 350.05, 2360.06, 4020.05, 4020.06
dynasty trusts, 2390.05, 2390.06
estate tax liquidity, 3260.07
Estate tax inclusion period, 4290.05
dynasty trusts, 2370.03, 2390.05
inclusion ratio, 2350.01, 2350.02, 2350.03, 2350.04, 2350.05, 2350.06, 2350.07
Estate tax liquidity, 430.04, 2601.03, 3210.05, 3260.01, 3260.03, 3260.04, 3410.02, 3550.02, 4070.01
concentrated positions, 3170.06, 4670.06
conflicts of interest, 1920.05, 2640.02
duty of impartiality, 2140.03, 3410.04
estate tax apportionment, 3260.07
incapacity, 2630.05
liquidity and the division of powers, 1090.03
section 303 redemptions, 3260.06
section 6166 deferral, 3260.02
trustee's role, 3260.05
Events of duress
duress clauses, 330.06, 340.07, 1290.04, 1290.06, 1480.03, 1560.06
Exception creditors, 3630, 3630.01, 3630.02, 3630.06, 3630.08, 3650, 3650.01
alimony and support, 3930.01, 3930.02, 3930.03, 3930.04, 3930.05, 3930.06
Berlinger decision, 3860.01
child support claims, 3720.03, 3930.05
consequences for planners, 3820.05
divorce and marital claims, 3630.04, 3901.02, 3930.01, 3930.02, 3930.03, 3930.04, 3930.06, 3950.07
equitable distribution, 3720.03
Florida, 3840.09
governmental claims, 3630.07
limits on the support remedy, 3630.05
mandatory and discretionary distributions, 3630.03
Nevada, 3840.09
spendthrift provisions, 3690.06
third-party trusts, 3950.07
Exception creditors, spendthrift. See Exception creditors
Excluded cotrustees
allocation of fiduciary functions, 960.05
closely held businesses, 840.02, 4670.06
Delaware, 3130.01
Delaware section 3313, 450.04, 720.04, 720.05, 720.07, 1020.01
directed trustees, 450.04, 1040.04, B30.04
directed trustee's duties, 720.03
excluded fiduciaries, 720.01, 720.02, 720.03, 720.04, 720.05, 720.06, 720.07, 960.05, 3130.01, 3130.03, 3130.04, 3130.05, 3130.06, 3130.07, 3130.08, 3140.06
investment advisers, 3130.06
prudent investor rule, 3130.02
retention directions, 3130.04
Uniform Prudent Investor Act, 3130.02
Excluded fiduciaries
allocation of fiduciary functions, 960.05
Delaware, 3130.01
Delaware section 3313, 720.04, 720.05, 720.07
directed trustee's duties, 720.03
excluded cotrustees, 720.01, 720.02, 720.03, 720.04, 720.05, 720.06, 720.07, 960.05, 3130.01, 3130.03, 3130.04, 3130.05, 3130.06, 3130.07, 3130.08
excluded fiduciary, 770.04
fiduciary's protection, 730.03
investment advisers, 3130.06
prudent investor rule, 3130.02
retention directions, 3130.04
Uniform Directed Trust Act, 3140.06
Uniform Prudent Investor Act, 3130.02
Wyoming Uniform Trust Code, 750.06
Exclusive jurisdiction
Alaska, 3770.04
Daniel Kloiber Dynasty Trust decision, 260.07
dynasty trusts, 260.07
firewall statutes, 260.06, 4570.04
forum selection clauses, 3730.07, 4570.01, 4570.02, 4570.03, 4570.04, 4570.05
Toni 1 Trust v. Wacker decision, 3770.04
Exculpation clauses, 540.05, 540.06, 540.07, 590.07, 1060.03, 1060.07, 1370.01, 1370.06, 1370.07, 2660.04
clauses drafted by the trustee, 540.03
decanting, 480.13
Delaware, 1370.03
directed trustees, 1060.01
duties outside the standard of care, 540.09
duty to diversify, 3190.03
exculpation of the director, 1060.02
gross negligence, 540.02, 540.08, 540.10, 550.08, 880.02
liability, exculpation and indemnity, 4630.10
liability of trust directors, 1050.03
mandatory floor in the uniform acts, 1370.02
mandatory rules, 510.07
Mennen decisions, 880.02, 1050.03
New York, 480.05
offshore exoneration clauses, 1370.05
Rutanen v. Ballard, 540.04
Texas, 480.13
See also Mandatory rules
Exemption after 2025, 4190.01, 4210.02, 4230.06
basic exclusion amount, 2330.01, 2330.03, 4230.01, 4230.03
estate tax liquidity, 3260.01, 3260.03
grandfathered trusts, 2380.06, 2380.07
incomplete-gift nongrantor trusts, 4130.09, 4180.09
portability, 2330.03
Exoneration clauses. See Exculpation clauses
F
Family bank
beneficiary as trustee, 3870.01, 3870.02, 3870.03, 3870.04, 3870.05, 3870.06, 3870.07, 3870.08
removal and replacement of trustees, 3870.07
spendthrift provisions, 4640.04
third-party trusts, 3950.05
undistributed net income, 4360.06
Family constitutions, 2910.05, 2920.01, 2920.02, 2920.03, 2920.04, 2920.05, 2920.06, 2920.07, 2940.05, 2990.02, 4670.04
Family councils
closely held businesses, 2930.06
confidentiality of trust litigation, 2930.07
designated representatives, 2690.01, 4670.03
distribution committees, 2910.02, 2940.07
dynasty trusts, 2910.02, 2910.05
family constitutions, 2920.03, 2920.05
family governance, 2910.05, 2920.03, 2920.05, 2930.01, 2930.02, 2930.03, 2930.04, 2930.05, 2930.06, 2930.07, 2940.01, 2940.02, 2940.03, 2940.05, 2940.06, 2990.02, 4670.04
Family governance, 2910, 2920, 2930, 2940, 2990
appointment and removal powers, 2940.05
closely held businesses, 2930.06
confidentiality of trust litigation, 2930.07
distribution advisers, 2940.07
distribution committees, 2940.07
dynasty trusts, 2910.05
family constitutions, 2920.01, 2920.02, 2920.03, 2920.04, 2920.05, 2920.06, 2920.07
family councils, 2930.01, 2930.02, 2930.03, 2930.04, 2930.05, 2930.06, 2930.07, 2990.02
governance institutions, 4670.04
powers the act excludes, 2940.03
reporting and meeting obligations, 2940.06
statutory menus, 2940.01
transfer-tax consequences for family members, 2940.04
trust directors, 2940.02
See also Family offices
Family members as advisers, 870.01, 870.03, 870.04, 870.05, 870.06, 880.05, 980.03, 1150.06
adverse parties, 870.02, 870.06
distribution advisers, 830.01, 870.03
investment advisers, 820.02, 870.04
nonadverse parties, 870.02
Family office rule
anti-money laundering, 2860.05, 2860.07
family offices, 2860.03, 2860.04, 2860.07, 2960.02, 2970.01, 2970.02, 2970.03, 2970.04, 2970.05, 2970.06, 2970.07, 2970.08, 2970.09, 2970.10, 2970.11, 2990.05
Investment Advisers Act, 2860.03, 2860.04, 2970.01, 2970.02, 2970.03, 2970.04, 2970.05, 2970.06, 2970.07, 2970.08, 2970.09, 2970.10, 2970.11
Family offices, 170.03, 2980.04, 2990.04
allocating the cost, 2980.01
anti-money laundering, 2860.02, 2860.07
family office rule, 2860.03, 2860.04, 2970.01, 2970.02, 2970.03, 2970.04, 2970.05, 2970.06, 2970.07, 2970.08, 2970.09, 2970.10, 2970.11
Investment Advisers Act, 2860.03, 2860.04, 2970.01, 2970.02, 2970.03, 2970.04, 2970.05, 2970.06, 2970.07, 2970.08, 2970.09, 2970.10, 2970.11
Lender Management decision, 2980.02, 2980.03
mediation, 2960.02
mortgages and lenders, 2980.02, 2980.03
notes on the provision, 2990.05
office as agent or as adviser, 2980.05
policy premise of the exclusion, 2960.05
private trust companies, 2860.07
records and information security, 2980.06
Family trust companies. See Private trust companies
FATCA and CRS
Common Reporting Standard, 4380.01, 4380.03, 4380.06, 4380.07, 4380.08
domestic and foreign trust classification, 4380.04
Foreign Account Tax Compliance Act, 4380.01, 4380.02, 4380.03, 4380.04, 4380.05, 4380.06, 4380.07, 4380.08
foreign grantor trusts, 4380.02
trust situs and tax, 4380.05
Federal Arbitration Act
arbitration clauses, 4520.02, 4540.02, 4540.06, 4590.03
Federal tax liens, 3670.03
disclaimers, 3670.04
discretionary interests and the lien, 3670.02
no-contest clauses, 3670.01
spendthrift provisions, 3670.05
Fee shifting
arbitration clauses, 4530.03, 4540.06
confidentiality of trust litigation, 4540.06, 4580.01, 4580.02, 4580.03
Feinberg decision
conditions on marriage and religion, 370.03, 2470.01
Ferri v. Powell-Ferri decision, 1760.09
decanting, 1710.04, 1710.05, 1710.06, 1780.06
Massachusetts, 1710.05, 1720.01, 1720.02
Fiduciary access to digital assets, 3530.04, 3530.05, 3590.01, 4670.07
access consent, 3590.04
access problem, 3530.01
custodian compliance, 3530.07
order of priority, 3530.03
statutory definitions, 3530.02
trustee's duties and authority, 3530.06
Fiduciary exception, 1080.05
Fiduciary powers, 1310.04, 1310.05, 2140.01, C40.03
American usage, 1310.06
fiduciary status of protectors, 1340.05, 1350.07
lapse of powers, 1450.02, 1450.05
McLean v. Ponder decision, 1220.06, 1340.05
nonfiduciary powers, 4030.03, 4110.06
personal powers, 1310.03
power of direction, 630.03, 830.03
powers in the law of trusts, 1310.01
threefold division, 1310.02
Fiduciary status of protectors, 1350.06, 1350.07, 1350.08
care and skill, 1350.05
duties undertaken, 1350.01
duty of loyalty, 1350.02
good faith and proper consideration, 1350.04
McLean v. Ponder decision, 1340.05
proper purposes, 1350.03
removal of trustees by the court, 1440.06
Fielding decision, 4170.01
Firewall statutes, 3980.03
Alaska, 260.06
Charman decision, 3980.01
Cook Islands, 260.03
Daniel Kloiber Dynasty Trust decision, 260.07
dynasty trusts, 260.07
exclusive jurisdiction, 4570.04
forced heirship, 260.01, 260.02, 260.03, 260.04, 260.05, 260.06, 260.08
forum selection clauses, 4570.04
Jersey, 3980.02
Nevis, 260.04
nuptial settlements, 3980.01
Flight clauses, 1250.04
domestic and foreign trust classification, 1250.06
duress clauses, 1560.06
Nevis, 1560.06
SEC v. Brennan decision, 1250.06
Floating spouse
death of the spouse, 4270.01, 4270.02, 4270.03, 4270.04, 4270.05
divorce and marital claims, 4270.01, 4270.02, 4270.03, 4270.04
reciprocal trust doctrine, 4270.05
alimony and support, 3860.01
arbitration clauses, 4530.02
Berlinger decision, 3860.01
Delaware Court of Chancery, 270.07
designated representatives, 2540.13, 2650.05
duress clauses, 1560.06
exception creditors, 3840.09
exclusive jurisdiction, 270.07
flight clauses, 1560.06
Florida Trust Code, 1160.04
full faith and credit, 270.02
Hanson v. Denckla decision, 270.02
McLean v. Ponder decision, 1130.06
Minassian v. Rachins decision, 1130.06, 1160.04
probable cause exception, 4550.07
qualified beneficiaries, 2540.12
Wyoming Uniform Trust Code, 3840.09
Forced heirship
Alaska, 260.06
Belize, 260.05
Cook Islands, 260.03
Daniel Kloiber Dynasty Trust decision, 260.07
dynasty trusts, 260.07
firewall statutes, 260.01, 260.02, 260.03, 260.04, 260.05, 260.06, 260.08
Nevis, 260.04
Foreign Account Tax Compliance Act
Common Reporting Standard, 4380.01, 4380.02, 4380.03, 4380.04, 4380.05, 4380.06, 4380.07, 4380.08
domestic and foreign trust classification, 4380.04, 4650.06
FATCA and CRS, 4380.01, 4380.03, 4380.06, 4380.07, 4380.08
foreign grantor trusts, 4380.02
trust situs and tax, 4380.05
Foreign grantor trusts
Common Reporting Standard, 4380.02
control test, 4320.07
decanting, C40.05
domestic and foreign trust classification, 4320.07
Foreign Account Tax Compliance Act, 4380.02
foreign grantors, 1840.04
related or subordinate parties, 4350.02
S corporation stock, C40.05
section 672(f), 4350.01, 4350.02, 4350.03, 4350.04, 4350.05, 4350.06, 4350.07
throwback rules, 4350.07
Foreign trusts. See Domestic and foreign trust classification
Formal and essential validity, 1470.02
Forms 3520 and 3520-A, 4370.01, 4370.02, 4370.03, 4370.04
domestic and foreign trust classification, 4370.01, 4370.03, 4370.06
open statute, 4370.08
throwback rules, 4370.04
Forum selection clauses
arbitration clauses, 570.06
Delaware Qualified Dispositions in Trusts Act, 3730.07
exclusive jurisdiction, 4570.01, 4570.02, 4570.03, 4570.04, 4570.05
firewall statutes, 4570.04
no-contest clauses, 570.06
qualified dispositions, 3730.07
Wyoming, 4570.05
Freeports
anti-money laundering, 3480.01, 3480.02, 3480.03, 3480.04, 3480.05, 3480.06
antiquities, 3480.04
cultural property rules, 3480.06
domestic and foreign trust classification, 3480.05
European Union, 3480.03
Funding the trust, 3520, 3520.01, 3520.04, 3520.05, 4290.05
Bitcoin and Ether, 3520.06
funding record, 3520.02
testing the address before the transfer, 3520.03
wallets and custody arrangements, 3520.06
G
Generation assignment, 2340.06
Lifetime QTIP trusts, 2320.07
qualified terminable interest property, 2320.07
skip persons, 2310.02, 2320.01, 2320.02, 2320.03, 2320.04, 2320.05, 2320.06
Generation-skipping transfer tax, 1870.01, 2080.08, 2190.03, 2310, 2310.03, 2310.05, 2310.06, 2330, 2340, 2360, 2370, 2380, 2390, 2850.05, 4650.02
change of transferor, 1870.06
combination and division of trusts, 2150.05
Delaware tax trap, 2260.06
direct skips, 2310.01, 2310.04
dynasty trusts, 2390.01, 2390.04
grandfathered trusts, 1680.05, 1870.02, 1870.04, 1970.05, 2170.07
GST trust definition, 2340.04
Lifetime QTIP trusts, 4280.06
qualified severance, 2150.05
qualified terminable interest property, 4280.06
section 2601 and grandfathering, 1680.05, 1870.02, 1970.05
section 2632 allocation, 2340.04
skip persons, 1870.07, 2310.01, 2310.02
tax modifications, 2170.08
voting and nonvoting interests, 3270.05
voting trusts, 3270.05
Gift splitting, 4220.01, 4220.02, 4220.03
consequence of an invalid election, 4220.05
designs that preserve splitting, 4220.04
Lifetime QTIP trusts, 4210.07
Gift tax, 1850, 1850.05, 1970.02, 2080.07, 4130, 4150, 4170, 4180
beneficiary as donor, 1850.02
Bitcoin and Ether, 3520.06
consent, objection and the statutes, 1850.04
funding the trust, 3520.06
incomplete-gift nongrantor trusts, 4130.01, 4130.02, 4130.03, 4130.04, 4130.05, 4130.06, 4130.07, 4130.08, 4130.09, 4280.09
Lifetime QTIP trusts, 4280.09
no-rule list, 1850.03
unanimous member powers, 4130.06
Gift tax returns, 2340.01, 2340.06, 4090.05, 4190.05, 4210.02, 4290.05
decanting, 1850.06, 1890.04, 1890.05
dynasty trusts, 2370.06, 2390.06
inclusion ratio, 2350.07, 2390.06
intentionally defective grantor trusts, 4050.04, 4050.07
Gold. See Precious metals
Good faith, 2450.02
bad faith, 1020.06
benefit-the-beneficiaries rule, 530.01, 530.02, 530.03, 530.04, 530.05, 530.06
exculpation clauses, 880.02
fiduciary status of protectors, 1350.04
gross negligence, 1020.06
investment advisers, 530.04
mandatory rules, 510.03
Mennen decisions, 880.02
section 814(a), 3830.07
Governing law, 270.01, 430.02, 450.11, 490.04, 490.05, 980.06, 1250.01, 1250.03, 1780.03, 1950.05, 2190.06, 2290.03, 4620.03, 4620.06, C10.01, C10.03, C10.05
ascertainable standards, C10.02
authorized fiduciaries, C10.02
Belize, 1250.02
California, 490.06
conflict of laws, 470.05, 1190.02, 3450.03, 3510.06
court test, 4310.07
declarations and recitals, 4620.01, 4620.02
Delaware, 4620.07
domestic and foreign trust classification, 1250.06, 4310.07
flight clauses, 1250.04
gross negligence, 490.01
information spectrum, 490.03
Jersey, 2180.05
letters of wishes, 4620.04
Nevada, 470.05
notes on the governing-law provision, 4620.10
notes on the opening provision, 4620.05
power to change situs, 4620.09
principal place of administration, 4620.08
provenance, 3450.03
rescission for mistake, 2180.05
SEC v. Brennan decision, 1250.06
self-settled trusts, 3880.01, 3880.02, 3880.03
spendthrift provisions, 3690.07, 3790.02
trust migration, E50.01, E50.02, E50.03
Uniform Trust Decanting Act, 1730.05
Wyoming qualified spendthrift trusts, 3790.02
Grace decision, 4240.02
Grandfathered trusts, 1870.01, 1890.02, 2130.06, 2380.04
additions destroy part of the protection, 2380.02
causing inclusion on purpose, 2380.06
Delaware, 2380.07
grandfather rule, 2380.01
lapse of powers, 2380.03
material purpose doctrine, 1680.05
powers of appointment in exempt trusts, 2380.05
private letter rulings, 1870.04
reformation, 2170.07
section 2601 and grandfathering, 1680.05, 1870.02, 1970.05
tax modifications, 2170.07
Grantor retained annuity trusts, 3270.03
Grantor trust rules, 350.05, 870.03, 870.04, 1280.07, 1840.01, 4010, 4010.01, 4020, 4020.13, 4030, 4040, 4050, 4060, 4070, 4070.01, 4070.04, 4080, 4090, 4090.01, 4090.04, 4090.05, 4210.03, 4210.04
adverse parties, 1280.07, 2850.06, 4010.03, 4010.04, 4010.07
basis at death, 4070.05
basis consequence in design, 4070.06
consequences of ending status during life, 4070.03
decanting, 1830.06, 1840.02, 1840.03, 1840.05, C40.05
distribution advisers, 870.03
divorce and marital claims, 3970.01, 3970.02, 3970.03, 3970.04, 3970.05, 3970.06
exchanging assets before death, 4070.07
Foreign Account Tax Compliance Act, 4380.02
foreign grantor trusts, 1840.04, 4350.04, 4380.02
grantor-trust status, 2790.04, 4650.03
intentionally defective grantor trusts, 4050.01, 4050.02, 4050.03, 4050.04, 4050.05, 4050.06, 4050.07
investment advisers, 870.04
lending power, 4090.02
notice to beneficiaries, 4010.06
origin of the rules, 4010.02
qualified domestic relations orders, 3970.07
realization events, 1830.06
related or subordinate parties, 2850.06, 4010.04, 4010.07
release and the three-year rule, 4070.08
retained powers, 350.05, 350.06
retirement accounts, 3970.07
S corporation stock, 3240.03, 3270.04, C40.05
sales to grantor trusts, 4050.01, 4050.02, 4050.03, 4050.04, 4050.05, 4050.06, 4050.07
section 672(e) spousal attribution, 4010.05
section 672(f), 4350.04
spousal lifetime access trusts, 3970.01, 3970.02, 3970.03, 3970.04, 3970.05, 3970.06
step-up in basis, 4070.05
See also Power of substitution; Toggling grantor-trust status
Gross negligence, 490.01
bad faith, 1020.06
Belize, 550.07
Delaware, 610.06
Delaware section 3313, 710.04, 780.01, 1020.01
directed trustees, 940.02, B30.01
directed trustee's duties, 660.02, 660.03, 940.02, 1020.01, 1090.05
duty to diversify, 820.05
exculpation clauses, 540.02, 540.08, 540.10, 550.08, 880.02
investment committees, 820.05
liability, indemnity and insurance, 890.05
Mennen decisions, 880.02, 1050.03
Nevada, 470.02, 740.04, 850.05
Nevis, 550.08
Spread Trustee decision, 550.02, 550.03, 550.04, 550.05, 550.06
statutory floors in the trust jurisdictions, 550.01
trust directors, 650.04, 1090.05
Uniform Trust Code section 1008, 650.04
willful misconduct, 540.08, 610.06, 660.02, 660.03, 710.04, 1020.03, 1020.05, 1020.06, B30.01
GST tax. See Generation-skipping transfer tax
Guardians ad litem, 2601.03
arbitration clauses, 2670.07, 4530.03, 4530.07, 4540.04, 4540.06
conflicts of interest, 2640.07, 2690.01
court representatives, 2680.04
court's role, 2680.01
distinguishing the offices, 2680.05
minor and unborn beneficiaries, 1630.03, 1630.04, 2610.04, 2610.05, 2670.07, 2680.02, 2680.03, 2680.07, 4540.04
Nevis, 2680.06
remainder beneficiaries, 2610.04
Guernsey trust law, 1590.05
exculpation clauses, 540.08, 590.04
gross negligence, 540.08, 550.01, 550.02, 550.03, 550.04, 550.05, 550.06, 550.08
Spread Trustee decision, 550.02, 550.03, 550.04, 550.05, 550.06
H
Hague Trusts Convention, 250, 250.02, 250.05
applicable law, 250.04
Connecticut, 250.08
convention and its parties, 250.01
mandatory rules, 250.06
significance of article 15, 250.07
trust as defined, 250.03
Hansberry v. Lee decision
conflicts of interest, 2640.01, 2640.03, 2640.07
minor and unborn beneficiaries, 2620.01
Hastings-Bass rule. See Rescission for mistake
Hedging
charitable remainder trusts, 3170.07
charitable trusts, 3170.07
concentrated positions, 3170.01, 3170.02, 3170.03, 3170.04, 3170.05, 3170.06, 3170.08
HEMS standard. See Distribution standards
Holdback provisions
independent trustees, 3690.05
spendthrift provisions, 3690.01, 3690.04, 3690.05, 4640.06, 4640.08
use in kind and holdbacks, 3660.08
Honorary trusts, 2720.02
anomalous cases, 2720.01
noncharitable purpose trusts, 2720.03, 2780.06
rule against perpetuities, 2720.03
Hybrid purpose trusts
enforcers, 2750.07, 2770.03, 2780.07
I
IDGTs. See Intentionally defective grantor trusts
Illinois, 440.05, 440.06, 1940.06, A50.04
confidentiality of trust litigation, 2590.05
controllable electronic records, A50.04
court test, 4310.06
designated representatives, 2650.06, 2650.08, 2650.09
domestic and foreign trust classification, 4310.06
due process, 280.05
good-faith standard, 2650.09
material purpose doctrine, 1940.06
nonjudicial consent modification, 440.06
perpetuities repeal, 2230.07
qualified beneficiaries, 2540.10, 2650.06
rule against perpetuities, 2230.07
silent trusts, 2560.07, 2590.05
state income tax residency, 280.05
Imputed income
alimony and support, 3850.05, 3930.01, 3930.03, 3930.06
divorce and marital claims, 3850.05, 3930.01, 3930.06, 3950.07
In terrorem clauses. See No-contest clauses
Inadvertent migration, 4330.04
automatic migration provisions, 4330.01, 4330.02, 4330.03, 4330.04, 4330.06, 4330.07, 4330.08
control test, 4330.06
domestic and foreign trust classification, 1250.06, 1580.05, 1880.04, 1880.05, 2870.07, 4330.05, 4380.04, 4390.01, 4650.06
inadvertent changes, 2080.04
trust migration, 4330.01, 4330.02, 4330.03, 4330.05, 4330.07, 4330.08, 4390.01, 4390.04, 4390.06
Incapacity, 1420.01, 1420.02, 1420.03, 3280.02
Belize, 1690.02, 1980.02, 2680.06
designated representatives, 2650.02, 2650.06, 2650.08, 2690.01
equitable deviation, 1640.06
estate tax liquidity, 2630.05
liability after resignation, 1420.04
release and suspension of powers, 1420.06
special-needs trusts, 1640.06, C30.03
timing of the successor's acceptance, 1420.05
Incentive trusts, 2460, 2460.01, 2460.02
conditions precedent, 2460.03
dead-hand control, 370.05
guided discretion, 2460.06
matching provisions, 2460.04
substance abuse provisions, 2460.05
tax and creditor design, 2460.07
Inclusion ratio
combination and division of trusts, 2150.05, 2150.07
dynasty trusts, 2390.06
estate tax inclusion period, 2350.01, 2350.02, 2350.03, 2350.04, 2350.05, 2350.06, 2350.07
qualified severance, 2150.05
separating exempt and nonexempt property, 2120.02
special holdings, E10.03
special-holdings advisers, E10.03
Income beneficiaries
federal tax liens, 3670.01, 3670.05
realization events, 1680.06
Income tax of trusts
distributable net income, 4360.01, 4360.02, 4360.05
domestic and foreign trust classification, 4360.02
family bank, 4360.06
fiduciary accounting income, 3070.04
interest charge on accumulations, 4360.04
throwback rules, 4360.03, 4360.04, 4360.07
undistributed net income, 4360.01, 4360.03, 4360.05, 4360.07
use of trust property, 4360.06
Incomplete gift regulations, 2850.01, 3760.02, 4101.05, 4210.02
incomplete-gift nongrantor trusts, 4130.01, 4130.02, 4130.04, 4130.05, 4130.06, 4130.08, 4130.09
Incomplete-gift nongrantor trusts, 4101.03, 4120, 4130, 4130.01, 4130.02, 4130.03, 4130.09, 4150, 4160, 4170, 4180, 4180.05, 4190
application to ING trusts, 4180.03
California, 4170.05, 4170.06, 4170.07
distribution committees, 4130.06
distributions to others, 4130.08
distributions to the settlor, 4130.07
exemption context, 4180.09
Lifetime QTIP trusts, 4280.09
New York, 4160.02, 4170.02, 4170.07
New York and California ING rules, 4170.05, 4170.06
proceeding without a ruling, 4150.04
qualified terminable interest property, 4280.09
self-settled trusts, 4160.04
sole power, 4130.04
state income taxation of trusts, 4160.02, 4160.04, 4160.05
testamentary power, 4130.05
unanimous member powers, 4130.06
See also State income taxation of trusts
Indemnification, 880.04, 880.05
acceptance, jurisdiction, indemnity and insurance, 1090.08
adviser's liability, 880.01
compensation, indemnity and insurance, 1390.07
Delaware, 1370.03
directed trustees, 880.03, 1060.01
exculpation clauses, 880.02, 1060.01, 1060.02, 1060.03, 1060.04, 1060.05, 1060.06, 1060.07, 1370.01, 1370.02, 1370.03, 1370.04, 1370.05, 1370.06, 1370.07, 4630.10
fiduciary powers, C40.03
gross negligence, 890.05
Mennen decisions, 880.02
reliance on the instrument, 1060.06
Independent trustees, 1180.02, 1280.07, 4020.05, 4260.05, 4420.04
adverse parties, 1280.07, 4010.04, 4680.04
decanting, 1790.03
divorce and marital claims, 1860.05, 3890.05
holdback provisions, 3660.08, 3690.05
instrument's tasks, 4290.01
related or subordinate parties, 4010.04, 4430.04, 4680.04
removal and replacement of trustees, 350.04, 1220.05, 4430.04
spendthrift provisions, 3690.05
INGs. See Incomplete-gift nongrantor trusts
Installment notes, 4090.05
intentionally defective grantor trusts, 4050.01, 4050.02, 4050.04, 4050.06, 4050.07
sales to grantor trusts, 4050.01, 4050.02, 4050.04, 4050.06, 4050.07
Intentionally defective grantor trusts
below-market loans, 4050.04
private letter rulings, 4050.01
Rothstein decision, 4050.02
sales to grantor trusts, 4050.01, 4050.02, 4050.03, 4050.04, 4050.05, 4050.06, 4050.07
Interest charge on accumulations
domestic and foreign trust classification, 4301.02, 4301.05, 4380.04
Interested persons, 1920.01, 1920.02
Alaska, 1920.09
conflicts of interest, 1920.05
Delaware, 1920.07
representation under Article 3, 1920.04
settlor and the trustee, 1920.03
settlor as representative, 1920.06
South Dakota, 1920.08
Texas, 1920.09
International trusts, 1980, 2280.01, 2580
American settlors and offshore rules, 1690.05
Belize, 1690.02, 1980.02, 2280.03, 2580.04, 2680.06
confidentiality of trust litigation, 2580.07
Cook Islands, 1690.04, 2280.04, 2580.06
court representatives, 2680.04
different starting point, 2580.01
drafting for modification, 1690.06
English rule, 1690.01
guardians ad litem, 2680.01, 2680.02, 2680.03, 2680.04, 2680.05, 2680.06, 2680.07
Jersey, 2580.03
legislative history, 1520.01
minor and unborn beneficiaries, 1980.01, 1980.04, 2680.02, 2680.03, 2680.07
Nevis, 1690.03, 1980.03, 2280.02, 2580.05
offshore trusts, 990.05
rule against perpetuities, 2280.04
Schmidt v. Rosewood decision, 2580.02
trust migration, 2280.05
Investment advisers, 870.04, 3750.06
benefit-the-beneficiaries rule, 530.04
control test, 4320.05
Delaware Qualified Dispositions in Trusts Act, 3730.03
directed trustees, 660.10, 1030.01
directed trustee's duties, 1030.01
duty to diversify, 820.05
excluded cotrustees, 3130.06
excluded fiduciaries, 3130.06
family members as advisers, 870.04
investment committees, 820.01, 820.02, 820.03, 820.05, 2840.04
prudent investor rule, 820.04
qualified dispositions, 3730.03
special holdings, 890.02, E10.03
special-holdings advisers, 890.02, E10.03
Uniform Prudent Investor Act, 820.04
United States persons, 4320.05
Wyoming Uniform Trust Code, 750.09
Investment Advisers Act, 790.07
anti-money laundering, 2860.01, 2860.05, 2860.07
family office rule, 2860.03, 2860.04, 2970.01, 2970.02, 2970.03, 2970.04, 2970.05, 2970.06, 2970.07, 2970.08, 2970.09, 2970.10, 2970.11
family offices, 2860.03, 2860.04, 2860.07, 2960.02, 2960.05, 2970.01, 2970.02, 2970.03, 2970.04, 2970.05, 2970.06, 2970.07, 2970.08, 2970.09, 2970.10, 2970.11, 2990.05
Investment committees, 190.04, 601.05, 880.05, 1001.01
duty to diversify, 820.05, 3110.06
investment advisers, 820.01, 820.02, 820.03, 820.05, 2840.04
prudent investor rule, 820.04
unbundling the trustee, 150.03, 150.06
Uniform Prudent Investor Act, 820.04
Irreducible core
anti-Bartlett clauses, 3060.04
Armitage v. Nurse decision, 520.01, 520.02, 520.03, 520.04, 520.05, 520.06, 520.07
underlying companies, 3060.04
Irrevocability, 4620.03
declarations and recitals, 4620.01, 4620.02
Delaware, 4620.07
governing law, 4620.06
letters of wishes, 4620.04
Nevada, 470.03
notes on the governing-law provision, 4620.10
notes on the opening provision, 4620.05
power to change situs, 4620.09
principal place of administration, 4620.08
retained powers, 340.03
settlor's standing, 360.04
standing to enforce trusts, 360.04
Isle of Man, 1590.05
J
Janes decision
concentrated positions, 130.05
duty to diversify, 3050.03, 3110.06, 3220.03, 3550.03
managerial trust, 130.05
Jersey, 1110.07, 1330.04, 1340.02, 1360.02, 1440.02, 2180.02, 2180.03, 2580.03, 2760.03, 3060.03, 3160.03, 3980.02
anti-Bartlett clauses, 3060.02, 3060.03
Belize, 1110.09, 2180.04, 3160.05
Bermuda, 1360.02
Cayman Islands, 3160.01, 3160.02, 3160.03, 3160.04, 3160.05, 3160.06
Charman decision, 3980.01
deadlock, 1360.02
enforcers, 1170.04, 2760.03, 2770.03, 2770.04, 2770.06, 2770.07, 2790.07
fiduciary status of protectors, 1350.01, 1440.06
firewall statutes, 3980.01, 3980.02, 4570.04
gross negligence, 550.04, 550.05
lapse of powers, 1450.02, 1450.05
Letterstedt v. Broers decision, 1440.02
nuptial settlements, 3980.01
Pitt v. Holt decision, 2180.01
removal of trustees by the court, 1440.02, 1440.03, 1440.06
rescission for mistake, 2180.01, 2180.02, 2180.03, 2180.05
Spread Trustee decision, 550.04, 550.05
Trusts (Jersey) Law 1984, 1110.07, 1330.04, 2580.03
Judicial review of discretion, 3820.03
authorized fiduciaries, C20.01, C20.03
decanting, 1730.09, 1770.02, 1770.03, C20.01, C20.03
standard of review, 3810.05
Jurisdictional competition, 180.04
consequences for the drafter, 180.05
market for trust law, 180.01
North Carolina, 180.03
offshore jurisdictions, 180.02
K
Kentucky
adopted children, 2420.05
conflict of laws, 220.08
nonmarital children, 2420.05
substantial relation test, 220.08
Key person risk, 3280.01
L
Laches, 680.05
art and collectibles, 3450.04, 3450.06
Bakalar v. Vavra decision, 3450.07
Delaware, 1070.03
designing the clock, 1070.05
director borrows the trustee's period, 1070.01
Mennen decisions, 1050.03, 1070.04
provenance, 3450.04, 3450.06, 3450.07
silent trusts, 2530.06, 2560.06
Uniform Trust Code periods, 1070.02
Lapse of powers, 1401.02, 1450.01, 1450.04, 4040.04, 4040.05, 4040.06, 4070.04
appointors, 1450.05
designated representatives, 2650.01, 2670.01
fiduciary powers, 1450.02
grandfathered trusts, 2380.02, 2380.03
identifying the settlor, 3710.04
Jersey, 1450.05
Nevis, 1450.03
Law of administration, 210.07, 230.07, 790.07, 2001.02, 2010.04, 4620.03
Leases and property management, 2550.03, 3301.04
delegation to a property manager, 3360.03
duty of prudence, 3360.02
environmental liability, 3370.01, 3370.06
income and principal, 3360.06
personal liability, 3360.04
trustee as landlord, 3360.01
use of trust property, 3360.05
Letters of wishes, 390.01, 390.04, 390.05, 390.06
duty to inform at common law, 390.03
letter of wishes, 4620.04
status under the Uniform Trust Code, 390.02
United States persons, 4340.04
Liability of trust directors
exculpation clauses, 1050.03
Mennen decisions, 1050.03
trust directors, 1050.01, 1050.02, 1050.04, 1050.05, 1050.06, 1050.07, 1050.08
Lifetime QTIP trusts
community property, 4280.01, 4280.03, 4280.04, 4280.06, 4280.07, 4280.08
death of the spouse, 4280.05
divorce and marital claims, 2320.07
gift splitting, 4210.07
incomplete-gift nongrantor trusts, 4280.09
marital property, 4280.01, 4280.02
qualified terminable interest property, 2320.07, 4280.03, 4280.04, 4280.05, 4280.06, 4280.07, 4280.08, 4280.09
transmutation, 4280.02
Limited liability companies
decentralized autonomous organizations, 3580.07, 3580.08
liability company, 3020.02
Limited powers of appointment
conflicts of interest, 2630.03
contingent beneficiaries, 2630.03
M
Management rights and economic rights
voting and nonvoting interests, 3230.02
Management succession, 1180.01
concentrated positions, 130.05
duty of prudence, 130.02
from land to financial assets, 130.01
Janes decision, 130.05
legal lists and the conservative reaction, 130.03
professionalization of trusteeship, 130.06
prudent investor rule, 130.04
Uniform Prudent Investor Act, 130.04
Mandatory distributions, 2490.03, 3660.03
decanting, 1740.03, 1770.04, 1790.03, C30.01, C30.04
divorce and marital claims, 3910.05, 3910.06, 3950.07
holdback provisions, 3660.08, 3690.05
Mandatory rules, 101.04, 501.02, 501.03, 501.04, 510, 570, 580, 590
application to existing trusts, 420.07
default statute, 420.02
directed-trust qualification, 420.04
duty to inform at common law, 510.06
eleven articles, 420.01
exculpation clauses, 510.07
Hague Trusts Convention, 250.06
information provisions, 420.05
item (b)(1), 510.02
item (b)(2), 510.03
item (b)(3), 510.04
items (b)(12) to (b)(14), 510.08
silent trusts, A40.01
spendthrift provisions, 3620.08
trust as contract, 580.04
Uniform Trust Code section 105, 310.02, 410.06, A40.01
Wyoming, 510.09
See also Irreducible core
Marital deduction, 2440.05, 4201.03, 4210.02, 4290.05
decanting, 1760.07, C40.05, E30.04
divorce and marital claims, 1860.05, 2160.09, 3970.06
gift splitting, 4210.07, 4220.02
Lifetime QTIP trusts, 2320.07, 4210.07, 4280.04, 4280.09
Marital property
active appreciation, 3920.02
community property, 3910.02, 3910.06, 4110.08, 4280.01
Dahl decision, 3940.02
death of the spouse, 4280.05
divorce and marital claims, 3850.02, 3910.02, 3910.06, 3910.07, 3920.01, 3920.02, 3920.05, 3940.04, 3960.04, 3960.06
incomplete-gift nongrantor trusts, 4280.09
Lifetime QTIP trusts, 4280.01, 4280.02, 4280.03, 4280.04, 4280.05, 4280.06, 4280.07, 4280.08, 4280.09
premarital agreements, 3960.04, 3960.06
qualified terminable interest property, 4280.03, 4280.04, 4280.06, 4280.07, 4280.08
self-settled trusts, 3940.04
separate property, 3850.02, 3910.03, 3920.03
Texas, 3910.03
transmutation, 3910.07, 3920.01, 3920.03, 3920.04, 3920.05, 3920.06, 4280.02
Massachusetts, A50.03
assisted reproduction, 2430.03
Broadway National Bank decision, 3610.04
child of assisted reproduction, 2430.03
decanting, 1710.05
Ferri v. Powell-Ferri decision, 1720.01, 1720.02
Massachusetts decanting decisions, 1710.05, 1720.01, 1720.02
Wyoming Uniform Trust Code, 2090.08
Massachusetts decanting decisions, 1701.02, 1760.09
decanting, 1710.04, 1710.05, 1710.06, 1780.06, 1790.01
Ferri v. Powell-Ferri decision, 1720.01, 1720.02
Material differences
realization events, 1830.02
Material purpose doctrine, 1670.01, 1930.01, 4490.06
beneficiaries without the settlor, 1620.05
Claflin doctrine, 120.03, 1610.01, 1610.02, 1610.03, 1610.04, 1610.05
decanting, 450.10, 480.13, 2060.02, 4660.02, 4660.07
disclaimers, 1930.05
grandfathered trusts, 1680.05
modification by agreement, 1930.03
nonjudicial settlement agreements, 160.07, 430.03, 450.10, 2060.02, E40.02, E40.03
qualified beneficiaries, 4480.05, 4480.06
removal of trustees by the court, 4480.06
section 2601 and grandfathering, 1680.05
spendthrift provisions, 120.05, 1610.04, 1610.05, 1930.02, 1930.04
termination by settlement, 1950.09
trust migration, 160.07, 4660.02, 4660.07
Uniform Trust Code section 411, 310.05, 310.06, 430.05, 1930.02, 1930.06
Wyoming Uniform Trust Code, 1670.06
Matrimonial claims. See Divorce and marital claims
McLean v. Ponder decision, 1160.03, 1160.06, 1320.02
fiduciary status of protectors, 1340.05, 1350.05, 1350.07, 1350.08
related or subordinate parties, 1220.06
removal and replacement of trustees, 1220.03, 1220.06, 1260.03
Mediation
confidentiality of trust litigation, 4580.01, 4580.02, 4580.03
family offices, 2960.02
fee shifting, 4580.01, 4580.02, 4580.03
special holdings, E10.03
special-holdings advisers, E10.03
Mennen decisions, 1080.05, 1080.06
directed trustees, 1040.07, 1040.08
exculpation clauses, 880.02, 1050.03, 1060.02
Migration. See Trust migration
Minassian v. Rachins decision, 1160.06, 1180.01, 1340.06
Minassian and the protector as drafter, 1270.03
Minor and unborn beneficiaries, 430.04, 1620.04, 1901.02, 2601.03, 2610.05, 4670.07
Alaska, 1920.09
arbitration clauses, 1960.07, 2670.07, 4530.03, 4540.04, 4540.06, 4590.03
Belize, 1690.02, 1980.02, 2680.06, 2680.07
common-law position, 1980.01
confidentiality of trust litigation, 4540.06
conflicts of interest, 2640.07, 2690.01
court petitions and instructions, 1960.05, 2140.06
designated representatives, 2650.02, 2650.08, 2690.01, 4670.03
due process, 2620.01, 2620.02, 2620.04
estate tax liquidity, 1090.03, 2630.05
guardians ad litem, 1630.03, 2610.04, 2680.01, 2680.02, 2680.03, 2680.04, 2680.06, 2680.07
Hansberry v. Lee decision, 2620.01
material purpose doctrine, 1930.04, 1950.09
nonjudicial settlement agreements, 2670.04, 2960.03, 4660.04, E40.03
objection rule, 2620.04
practical consequences, 1980.04
remainder beneficiaries, 2610.04
representation of minors and unborn beneficiaries, 1090.07
Texas, 1920.09
trust migration, 4660.04, 4660.07
Uniform Trust Code section 411, 1630.04
Missouri
directed trustees, 660.10
investment advisers, 660.10
McLean v. Ponder decision, 1130.06, 1160.02
Minassian v. Rachins decision, 1130.06
qualified beneficiaries, 4480.06
removal of trustees by the court, 4480.06
successor trustees, 1160.02
Mistake. See Reformation
Modification of trusts, 440.02, 690.01, 690.03, 690.05, 1620, 1620.04, 1630, 1640, 1660, 1670, 1680, 1690
Alaska, 470.09
California, 480.07
combination and division of trusts, 1660.01, 1660.02, 1660.03, 1660.04, 1660.05
community property, 4110.08
decanting, 450.10, 480.13, 2060.04, 4660.01, 4660.03, 4660.05, 4660.06, 4660.07
Delaware, 1670.02
drafting for modification, 1690.06
exculpation clauses, 480.13, 540.08
grandfathered trusts, 1680.05, 2170.07, 2380.04
gross negligence, 540.08, 650.04
judicial modification, 160.04
marital property, 4110.08
material purpose doctrine, 430.05, 1620.05, 1930.03, 4660.02
Nevada, 470.04
New York, 480.04
nonjudicial consent modification, 460.06, 1670.02
nonjudicial settlement agreements, 450.10, 2670.04, 4660.04
pattern of variation, 1940.01
per stirpes, 2410.05
qualified beneficiaries, 4480.06
reformation, 1660.01, 1660.02, 1660.04, 1660.05, 2160.05, 2170.02, 2170.05, 2170.07, 2170.08
removal of trustees by the court, 4480.06
tax modifications, 1660.03, 2170.01, 2170.02, 2170.03, 2170.04, 2170.06, 2170.08, 2170.09
trust directors, 650.04
trust migration, 4660.01, 4660.02, 4660.03, 4660.04, 4660.05, 4660.06, 4660.07
Uniform Trust Code section 411, 430.05, 1620.01, 1620.03, 1620.07
variation among enacting states, 440.03
variation among enactments, 690.02
variations on section 304, 2630.07
Wyoming Uniform Trust Code, 440.07, 440.08
See also Decanting
Mortgages and lenders, 3301.04, 4670.07
family offices, 2980.02, 2980.03
Lender Management decision, 2980.02, 2980.03
material differences, 1830.02
property tax and homestead, 3350.07
realization events, 1830.02
residence trusts, 3350.07
title insurance, 3330.01, 3330.02, 3330.03, 3330.04, 3330.05, 3330.06
N
Nevada, 220.08, 470.01, 740.01, 740.08, 1320.08, 1940.04, 2240.02, 2540.06, 3140.03, 3720.04, 3840.05
arbitration clauses, 4530.03, 4530.07, 4540.02, 4540.03, 4590.03
benefit-the-beneficiaries rule, 2030.05
Bullion Monarch decision, 2250.05
conflict of laws, 220.08, 470.05, 2050.04
Dahl decision, 3940.02
Delaware Court of Chancery, 270.07
Delaware section 3313, 850.05
Delaware section 3528, 1760.07
direct benefits estoppel, 4530.07
directed trustee's duties, 470.02
exception creditors, 3840.09
exclusive jurisdiction, 270.07, 3650.03
gross negligence, 470.02, 540.08, 740.04
irrevocability, 470.03
law of administration, 2050.04
marital property, 3940.02
minor and unborn beneficiaries, 4530.03
modification of trusts, 470.04
Nevada spendthrift trusts, 470.06, 3650.03, 4440.04
New Hampshire trust law, 4550.06
New York EPTL, 3650.08
no-contest clauses, 4550.06, 4590.03
payments to third parties, 3650.08
philanthropy, 2750.05
private trust companies, 2830.04, 2830.08
rule against perpetuities, 2250.05
self-settled trusts, 470.06
situs trustees, 4440.04
spouse definitions, 3720.04
statutory menus, 1120.07
Nevis, 970.07, 1110.06, 1210.04, 1330.02, 1450.03, 1501.03, 1530.02, 1570.01, 1690.03, 1980.03, 2010.05, 2110.10, 2180.04, 2280.02, 2580.05, 2680.06, 2760.04, 2870.05, 3680.03
Belize, 1210.04, 1250.02, 1450.03, 2180.04, 2280.04, 2680.06
Cayman Islands, 3160.04, 3160.06
combination and division of trusts, 2110.10
confidentiality of trust litigation, 2580.05
contempt, 1560.02
domestic and foreign trust classification, 2070.03, 2070.08
duress clauses, 1550.02, 1560.02, 1560.06
exculpation clauses, 550.08
farmland and ranches, 2790.07
firewall statutes, 260.04, 4570.04
flight clauses, 1560.06
forced heirship, 260.04
gross negligence, 550.08
guardians ad litem, 2680.06
Jersey, 2180.04, 3160.04, 3160.06
rule against perpetuities, 2280.04
New Hampshire
arbitration clauses, 4530.06
capital requirements, 2830.06
confidentiality of trust litigation, 2540.11
designated representatives, 2650.07
New Hampshire trust law, 2540.11, 2650.07, 2750.06, 2830.06, 3140.05, 4530.06, 4550.06
no-contest clauses, 4550.06
New Hampshire trust law, 2840.02
Alaska, 2650.07
arbitration clauses, 4530.06
Nevada, 4550.06
New Hampshire, 2540.11, 2650.07, 2750.06, 2830.06, 3140.05, 4530.06, 4550.06
New Jersey
due process, 280.05
law of administration, 2040.01
Peierls decisions, 2040.01, 2050.08
perpetuities repeal, 2230.05
state income tax residency, 280.05
New York, 290.06, 480.03, 480.04, 480.05, 480.14, 1760.02, 2040.01, 3450.07, 4060.04, 4460.09
Bakalar v. Vavra decision, 3450.07
civil-law families, 210.05
decanting, 160.06, 460.07, 1760.07, 1790.04, 1801.02, 1850.06, A20.01, C20.01, C30.01, C40.05
due process, 2080.02
effective date, 4170.03
exculpation clauses, 480.05, 540.08
execution formalities, 480.04
income beneficiaries, 480.03
incomplete-gift nongrantor trusts, 4160.02, 4170.02, 4170.07
investment committees, 290.06
law of administration, 2040.01
New York and California ING rules, 4170.07
New York EPTL, 480.02, 3650.08
payments to third parties, 3650.08
rule against perpetuities, 480.02
state income tax residency, 280.06, 4170.02, 4170.04
state income taxation of trusts, 280.06, 2080.02, 4160.02, 4170.04
Wyoming Uniform Trust Code, 4460.09
New York and California ING rules
California, 4170.05, 4170.06, 4170.07
incomplete-gift nongrantor trusts, 4170.02, 4170.05, 4170.06
Next-generation education, 2130.07, 2950.01
aligning disclosure with education, 2950.03
apprenticeship in governance, 2950.05
content of a program, 2950.02
paying for education, 2950.04
preparing successors for fiduciary office, 2950.06
Nexus, 4620.03
NINGs. See Incomplete-gift nongrantor trusts
NJSAs. See Nonjudicial settlement agreements
No-contest clauses, 4550.01, 4560.02
arbitration clauses, 570.06, 4510.04, 4590.03
California, 4550.03
Delaware, 4550.05
disinheritance, 2480.02
federal tax liens, 3670.01
Florida, 4550.07
forum selection clauses, 570.06
Nevada, 4550.06
New Hampshire trust law, 4550.06
probable cause exception, 4550.02, 4550.07, 4560.01, 4560.03
South Dakota, 4550.03
South Dakota Trust Code, 4590.03
special-needs trusts, 2480.02
statutory limits on dispute clauses, 4510.03
Texas, 4550.04
See also Arbitration clauses
Nonadverse parties, 350.05, 870.03, 870.06, 1240.03, 1280.01, 1280.03, 1280.04, 1280.07, 1840.01, 4020.02, 4020.08, 4020.12, 4020.13, 4120.01, 4120.03, 4120.04, 4120.05, 4120.06
adding and removing beneficiaries, 1280.04, 4020.07
adverse parties, 870.02, 1280.02, 1280.03, 1280.07, 1380.05, 1380.07, 3760.06, 4010.03, 4010.04, 4010.07, 4020.08, 4120.02, 4120.03, 4120.05, 4420.03
family members as advisers, 870.02, 870.06
Noncharitable purpose trusts, 1530.08, 2710, 2720, 2730, 2740, 2750, 2760, 2770, 2780, 2790
animals and graves, 2780.06
beneficiary principle, 570.01
charitable construction, 2710.05
consequences of characterization, 2730.03
constructive trusts, 2710.04
domestic and foreign trust classification, 2790.05
enforcers, 1170.04, 2750.07, 2780.07, 2880.04
hybrid purpose trusts, 2780.07
keeping a family company together, 2780.02
Morice v. Bishop of Durham decision, 2710.03
Ohio, 2710.01
orphan structures, 2780.03
philanthropy, 2780.05
preserving property, 2780.04
private trust companies, 2780.01
purpose trusts, 170.05
reason for the rule, 2710.02
rule against perpetuities, 2720.03
Nonfiduciary powers, 630.01, 690.03, 850.06, 870.04, 4020.10, B10.05
distribution advisers, 830.03, 830.04, 4190.07
nonfiduciary capacity, 4110.06
power of direction, 810.02, 830.03
power of substitution, 4030.02, 4030.03, 4030.06
Nonjudicial consent modification, 1590.04, 2601.04
decanting, 1780.08, 2060.01, 2060.04, 4660.07
Delaware, 1670.02, 1940.03, 2750.02
modification by consent, 460.06
Nonjudicial settlement agreements, 430.03, 1910, 1920, 1930, 1940, 1950, 1970, 1990, 1990.02, 2670.04, E40.01, E40.02
decanting, 450.10, 2060.02, 4660.04
Delaware, 1670.04
settlement agreements and representation, 2960.03
trust migration, 160.07, 4660.04
Wyoming, E40.03
See also Virtual representation
Nonmarital children, 230.03, 2420.06
adopted children, 2420.01, 2420.02, 2420.03, 2420.04
Kentucky, 2420.05
Nonresident-alien families, 4340.08
Common Reporting Standard, 4380.01, 4380.03, 4380.06, 4380.08
domestic and foreign trust classification, 4380.04
FATCA and CRS, 4380.07, 4380.08
Foreign Account Tax Compliance Act, 4380.01, 4380.02, 4380.03, 4380.04, 4380.05, 4380.06, 4380.07
foreign grantor trusts, 4380.02
pre-immigration planning, 4340.08
trust situs and tax, 4380.05
North Carolina
Brown Bros. Harriman v. Benson decision, 2230.06, 2250.03
incomplete-gift nongrantor trusts, 4160.02
jurisdictional competition, 180.03
Kaestner decision, 180.03, 280.04
perpetuities repeal, 2230.06
rule against perpetuities, 2250.03
state income taxation of trusts, 4160.02
No-rule list, 1860.01, 2240.09, 4190.01, 4680.01
decanting, 1801.04, 1810.05, 1820.01, 1820.02, 1870.05, 1890.03, 2060.03, C40.05
incomplete-gift nongrantor trusts, 4150.04, 4180.05
no-rule item, 1850.03, 4150.02
Notice 2011-101, 1810.01, 1810.02, 1810.03, 1810.04, 1810.05
rule against perpetuities, A30.01
Uniform Statutory Rule Against Perpetuities, A30.01
Notice to beneficiaries, 890.04
authorized fiduciaries, C20.01
conditions and notice periods, 4010.06
decanting, 1730.10, 1840.05, C20.01, C30.04, C40.05, E30.04
special holdings, E10.03
special-holdings advisers, E10.03
spendthrift provisions, 3740.05
Uniform Trust Decanting Act, 1730.10, E30.04
Wyoming qualified spendthrift trusts, 3740.05
O
Obergefell decision, 2440.01
Offshore protectors, 1360.01, 1501.02, 1570.04
contempt, 1570.01
independent protector inside the United States, 1570.03
protector powers, 1570.02
repatriation orders, 1570.01
Ohio, 1940.05
beneficiary surrogates, 2540.09
Crummey powers, 3840.08
duty to diversify, 3120.02
exclusive jurisdiction, 2020.07
honorary trusts, 2720.03
lapse of powers, 1760.04
noncharitable purpose trusts, 2710.01, 2720.03
perpetuities repeal, 2230.07
retention clauses, 3120.02
rule against perpetuities, 2230.07
spendthrift provisions, 3840.08
substantial relation test, 210.09
successor trustees, 2020.07
Uniform Trust Code section 813, 2540.09
United Kingdom, 2710.01
Ohio Legacy Trust Act, 3701.04
P
Partial restraints on marriage, 2440.05
conditions on marriage and religion, 370.03, 2470.01
dead-hand control, 370.02, 370.03
divorce and marital claims, 2470.01
Peierls decisions, 2040.01, 2040.03, 2060.06
2013 statute and its later form, 2040.02
decanting, 2060.05, 2060.06, 4660.06
Delaware, 2040.01
Pennsylvania
contingent beneficiaries, 280.07
due process, 280.05
Kaestner decision, 280.07
qualified beneficiaries, 4480.06
removal of trustees by the court, 4480.06
state income tax residency, 280.05, 4080.04
state income taxation of trusts, 4080.04
Per stirpes, 230.03, 2410.03, 2410.04
grandfathered trusts, 1680.05, 2130.06
minor and unborn beneficiaries, 1630.04, 2610.04, 2610.05
special holdings, E10.03
special-holdings advisers, E10.03
state variations, 2410.05
Perpetuities. See Rule against perpetuities
Perpetuities repeal, 160.02, 230.07, 1120.01, 2230, 2230.01, 4680.01
Alaska, 2230.04
Delaware, 2230.03
Illinois, 2230.07
New Jersey, 2230.05
North Carolina, 2230.06, 2250.03
Ohio, 2230.07
Rhode Island, 2230.05
rule against perpetuities, 2250.03, 2280.04, C50.01
South Dakota, 2230.02
Uniform Statutory Rule Against Perpetuities, 2220.01, A30.01
Personal jurisdiction over trustees, 680.06, 1080.01, 1080.02, 1150.06, 1590.01
Delaware, 710.09, 1120.05, 2650.03, 2750.02
Delaware section 3313, 450.04, 710.09, 1120.05
designated representatives, 2650.03, 2650.08
Personal residence in trust, 3301.05, 3390.03
mortgages and lenders, 3330.03, 3330.05, 3350.07
property tax and homestead, 3350.07
qualified personal residence trusts, 3350.02
Pfannenstiehl decision, 3830.03, 3850.03
divorce and marital claims, 3850.03, 3850.04, 3910.04
marital property, 3850.02
separate property, 3850.02
Phipps v. Palm Beach Trust
decanting, 160.05, 1710.01, 1710.05, A20.01
Massachusetts, 1710.05, 1720.01
Phipps decision, 1710.01
Place of administration. See Situs
Power of direction, 601.05, 620.02, 640.01, 640.04, 2990.01
act's choice of an enabling model, 640.03
direct under the code, 330.02
directed trustees, 620.04, B30.01
distribution advisers, 830.03, 2940.07
duress clauses, 330.06
enabling and off-the-rack statutes, 640.02
events of duress, 330.06
joint powers, 640.05
medicaid payback and charitable interests, 640.07
negative and affirmative powers, 330.07
nonfiduciary powers, 830.03, B10.05
Pugachev decision, 330.03
retained powers, 330.01
settlor as trustee, 330.04
South Dakota, 640.06
trust directors, 330.05, 620.04, 810.02, 1140.01, 1210.05, 2940.02, B10.02, B20.01
Uniform Directed Trust Act, 1140.01, 1140.06, 1210.05, 3140.06
Wellin decisions, 640.06
Power of substitution, 4030, 4030.05
nonfiduciary powers, 4030.02, 4030.03
notes on the substitution power, 4290.04
Revenue Ruling 2011-28, 4030.04
statutory power, 4030.01
trustee's duties on an exercise, 4030.06
Powers of appointment, 630.02, 4280.08
adding and removing beneficiaries, 1260.01, 1260.02, 1260.03, 1260.04, 1260.05
authorized fiduciaries, C10.02, C30.01
conflicts of interest, 2630.03
contingent beneficiaries, 2630.03
decanting, 1710.03, 1740.04, 1850.06, 2260.05, C30.01
Delaware, 2130.04, 2260.03, 2260.04, 2380.07, 2850.07
Delaware tax trap, 2260.01, 2260.02, 2260.03, 2260.04, 2260.06
disinheritance, 2480.01, 2480.02, 2480.03, 2480.04, 2480.05, 2480.06
distribution advisers, 830.03
dynasty trusts, 2260.01, 2480.04
grandfathered trusts, 2380.01, 2380.02, 2380.03, 2380.04, 2380.05, 2380.06, 2380.07
lapse of powers, 2380.03
power of direction, 830.03
protector powers, 1140.04
special-needs trusts, 2480.01, 2480.03, 2480.05, 2480.06
spendthrift provisions, 4640.05
Uniform Directed Trust Act, 1140.04
veto and the power of appointment, 3750.04
Precious metals, 3401.04, 3420.01, 3420.07
allocated and unallocated metal, 3420.02, 3420.03
art and collectibles, 3440.01, 3440.04, 3440.08
exchange-traded products, 3420.06
leveraged purchases, 3420.05
pooled and commingled storage, 3420.04
retirement accounts, 3440.04
vault storage, 3420.05
Premarital agreements
divorce and marital claims, 3960.01, 3960.02, 3960.03, 3960.04, 3960.05, 3960.06
Prenuptial agreements. See Premarital agreements
Primary supervision
court test, 4310.01, 4310.04, 4310.05, 4310.06
domestic and foreign trust classification, 1580.01, 1880.03, 2070.05, 4310.01, 4310.04, 4310.05, 4310.06, 4330.05
Private letter rulings, 3760.02, 4110.02, 4120.08
committee's life, 4110.05
distribution committees, 4140.05
grandfathered trusts, 1870.04
intentionally defective grantor trusts, 4050.01
nonfiduciary powers, 4030.02, 4110.06
rulings as a template, 4110.01
sales to grantor trusts, 4050.01
silent trusts, 4150.01
Private trust companies, 170.02, 2810, 2810.01, 2810.03, 2810.05, 2810.06, 2820, 2830, 2830.01, 2840, 2850, 2860, 2870, 2870.01, 2870.06, 2890, 4630.04
anti-money laundering, 2860.07
British Virgin Islands, 2870.04
Cayman Islands, 2870.02, 2870.03
control of decisions, 2810.02
Delaware, 2830.07
designated relatives, 2830.08
domestic and foreign trust classification, 2870.07
family offices, 2860.07
Nevada, 2830.04
Nevis, 2870.05
noncharitable purpose trusts, 2780.01
relationship to other chapters, 2801.05
specialist assets, 2810.04
Tennessee, 2830.07
trust company, 4410.05
trustee bonds, 2830.08
See also Family governance
Probable cause exception
arbitration clauses, 570.06, 4510.04, 4590.03
California, 4550.03
Florida, 4550.07
no-contest clauses, 570.06, 2480.02, 4510.03, 4510.04, 4550.02, 4550.05, 4550.07, 4560.01, 4560.02, 4560.03, 4590.03
Shumway decision, 4560.01
South Dakota, 4550.03
Proper law. See Governing law
Property tax and homestead, 3301.04, 3340.02, 3340.04, 3390.03, 4670.07
entities and the original co-owner trap, 3340.03
homestead property tax exemption, 3340.05
homestead protection from creditors, 3340.06
homestead restrictions on devise, 3340.07
mortgages and lenders, 3330.05, 3330.06, 3350.07
reassessment, 3340.01
residence trusts, 3350.07
Protective trusts, 3560.03, 3601.03, 3610.02
Belize, 1980.02, 2680.06, 3680.02
domestic and foreign trust classification, 2870.07, 3680.05, 4330.05
duress clauses, 340.07, 1480.06
spendthrift provisions, 3680.02, 3680.05, 3690.04
United Kingdom, 3680.01
Protector committees, 1190.03, 1460.01, 1590.01
deadlock, 1460.05, 1460.06, 1490.01, 1490.02, 4450.05
default rules, 1460.02
majority, unanimity, or both, 1460.03
recording dissent, 1460.04
Protector powers, 730.08, 740.06, 1160.06, 1180.03, 1290, 1590.05
domestic and foreign trust classification, 1580.02
duress clauses, 330.06, 1290.04, 1290.06, 1480.01, 1560.06
offshore protectors, 1570.01, 1570.02
power of direction, 330.03, 330.06
substantial decisions, 1580.02
Uniform Directed Trust Act, 1140.04, 1210.05
Wyoming Uniform Trust Code, 750.03
See also Consent powers
Protectors. See Trust protectors
Provenance, 4670.07
art and collectibles, 3450.01, 3450.02, 3450.03, 3450.04, 3450.05, 3450.06, 3450.07
Bakalar v. Vavra decision, 3450.07
conflict of laws, 3450.03
Prudent investor rule, 930.06, 3540.03
closely held businesses, 3220.02, 3220.03
concentrated positions, 130.05
duty of prudence, 910.05
duty to diversify, 820.05, 3050.01, 3050.04, 3110.01, 3110.02, 3110.05, 3120.02, 3220.02, 3220.03, 3550.03
excluded cotrustees, 3130.02
investment committees, 820.04, 820.05
managerial trust, 130.04, 130.05
mandatory rules, 420.01, 920.05
Rhode Island, 920.06
Shriners decision, 910.06
special holdings, 840.01, 840.06
Uniform Prudent Investor Act, 130.04, 820.04, 910.02, 910.04, 910.05, 910.06, 920.01, 920.02, 920.03, 920.04, 920.05, 920.06, 3130.02, 3410.01, 3550.01
PTCs. See Private trust companies
Public policy limits
capricious purposes and termination, 2740.06
conditions on marriage and religion, 370.03
dead-hand control, 370.01, 370.02, 370.03, 370.04, 370.05
incentive trusts, 370.05
Pugachev decision, 330.03
Purpose trusts. See Noncharitable purpose trusts
Q
QSTs. See Wyoming qualified spendthrift trusts
QTIP trusts. See Lifetime QTIP trusts
Qualified beneficiaries, 220.06, 1910.05, 2020.04, 2020.05, 2520.02, 2630.04, 4470.01
ascertainable standards, C10.02
authorized fiduciaries, C10.02, C20.01, C30.01, C40.04
combination and division of trusts, 2110.01, 2110.05
decanting, C20.01, C30.01, C30.04, C40.02, C50.04
equitable deviation, 4480.05
New York, 4460.09
Pennsylvania, 4480.06
removal of trustees by the court, 4480.05, 4480.06, 4480.07
successor trustees, 4490.04, E50.03
trust migration, E50.02, E50.03
Wyoming, 750.10, 1670.06, 2540.08, 4460.08
Wyoming Uniform Trust Code, 750.09, 750.10, 1670.06, 4460.08, 4460.09
Qualified dispositions
bad faith, 3730.06
Delaware Qualified Dispositions in Trusts Act, 3730.01, 3730.03, 3730.04, 3730.05, 3730.06, 3730.07
forum selection clauses, 3730.07
investment advisers, 3730.03
qualified trustees, 3730.02
situs trustees, 3730.02
Qualified domestic relations orders
retirement accounts, 3970.07
spousal lifetime access trusts, 3970.07
Qualified personal residence trusts, 3301.05, 3390.03
mortgages and lenders, 3330.03, 3330.05, 3350.07
personal residence in trust, 3350.02
Qualified severance, 2190.02, 2360.03
combination and division of trusts, 2150.05, 2150.08, 2150.10
Qualified subchapter S trusts, 3240.05
electing small business trusts, 3240.07, 3240.08
S corporation stock, 3020.04, 3020.05, 3230.04, 3240.01, 3240.05, 3240.06, 3240.07, 3240.08, 3240.09, 3270.04, C40.05
Qualified terminable interest property, 2440.05, 4230.06, 4290.05
community property, 4280.01, 4280.03, 4280.04, 4280.06, 4280.07, 4280.08
death of the spouse, 4260.07, 4270.02, 4280.05
divorce and marital claims, 2320.07
incomplete-gift nongrantor trusts, 4280.09
Lifetime QTIP trusts, 2320.07, 4210.07, 4280.03, 4280.04, 4280.05, 4280.06, 4280.07, 4280.08, 4280.09
marital property, 4280.01, 4280.02
transmutation, 4280.02
Qualified trustees, 3750.03
Delaware Qualified Dispositions in Trusts Act, 3730.01, 3730.04
qualified dispositions, 3730.01, 3730.02, 3730.03, 3730.04, 3730.07
self-settled trusts, 3710.05, 3790.03, 3880.01
situs trustees, 2050.07, 3730.02, 3740.03, 4440.02, 4440.05, 4440.06
spendthrift provisions, 3690.07, 3740.01, 3740.02, 3740.04, 3740.06, 3790.02
Wyoming qualified spendthrift trusts, 3740.01, 3740.02, 3740.03, 3740.04, 3740.06, 3790.02, 3790.03
Quiet periods, 201.03, 230.04, 450.12, 2520.08
designated representatives, 450.05, 560.06, 2590.06
McNeil v. McNeil decision, 450.09, 2550.05
silent trusts, 170.04, 2560.03, 2560.06, 2590.01, 2590.05, 2590.06
Quiet trusts. See Silent trusts
R
Ratification and consent, 680.05, 1130.02, 1520.04
consents, releases and ratifications, 2670.03
court petitions and instructions, 2140.06
Delaware, 270.07, 2540.03, 2650.03
designated representatives, 2540.03, 2590.06, 2650.03, 2690.01
exculpation clauses, 540.10, 1060.04
gross negligence, 540.10
Real property in trust, 3310, 3340, 3380, 3390, 4670.07
certification of trust, 3310.03
funding a revocable trust, 3310.02
land trusts, 3310.06
naming conventions and errors, 3310.07
real property, 2290.07
recording the certification, 3310.04
special holdings, 840.03
special-holdings advisers, 840.03
trustee holds title, 3310.01
trustees of record, 3310.05
Realization events, 1830.01, 1830.03, 2190.02
combination and division of trusts, 2150.01, 2150.02, 2150.03, 2150.10
decanting, 1820.03, 1830.06, 1890.03
grandfathered trusts, 1680.05, 1870.02, 1970.05
income beneficiaries, 1680.06
material differences, 1830.02
mortgages and lenders, 1830.02
ruling practice on divisions, 1830.05
section 2601 and grandfathering, 1680.05, 1870.02, 1970.05
severance regulation, 1830.04
Ream v. Frey decision, 4470.01
Reciprocal trust doctrine, 4240.01
death of the spouse, 4270.05
Estate of Levy decision, 4240.03
floating spouse, 4270.05
Reckless indifference
duty to diversify, 3120.02, 3490.02
exculpation clauses, 480.05, 480.13, 540.01, 540.02, 540.08, 540.10, 880.02, 1060.01, 1370.02, 2660.04, 4630.10
gross negligence, 450.03, 490.01, 540.02, 540.08, 650.04, 890.05, 1020.06
Reformation, 2160, 2160.01, 2160.02, 2160.03, 2160.06, 2170, 2180, 2190.05
Belize, 2180.04
charitable deductions, 2170.05
combination and division of trusts, 1660.01, 1660.02, 1660.03, 1660.04, 1660.05
constructive trusts, 2160.08
divorce and marital claims, 2160.09
grandfathered trusts, 2170.07
Nevis, 2180.04
Pitt v. Holt decision, 2180.01
rescission for mistake, 2180.01
residence trusts, 3350.05
Restatement text, 2160.04
rule against perpetuities, 2220.02
state variations, 2160.05
tax modifications, 1660.03, 2170.02, 2170.05, 2170.07, 2170.08
Uniform Probate Code, 2160.07
Uniform Statutory Rule Against Perpetuities, 2220.01, 2220.02, 2220.03, 2220.04, 2220.05, 2220.06
Regulated trust companies, 3540.01
Reliance on the instrument, 680.05, C10.06
duty to diversify, 820.05, 3110.05, 3220.02
exculpation clauses, 1060.06
Remainder beneficiaries, 120.06
authorized fiduciaries, C30.01
decanting, C30.01
guardians ad litem, 2610.04
inspection as a property right, 2550.04
minor and unborn beneficiaries, 2610.04
Remedies for breach, 2001.02
arbitration clauses, 4540.05, 4540.06
duty of prudence, 130.02, 3360.02
duty to diversify, 3110.06, 3120.02, 3220.03
Removal and replacement of trustees, 1430.06, 4430.01
adding and removing beneficiaries, 1260.03
adverse parties, 350.04, 4430.04
beneficiary as trustee, 3870.07
cause or no cause, 1220.02
core power, 1220.01
family bank, 3870.07
limits on the successor, 1220.03
McLean v. Ponder decision, 1220.06
related or subordinate parties, 1220.06, 4430.04
removal and replacement, 3750.05, 4490.02
retained powers, 350.04
Revenue Ruling 95-58, 1220.05, 4430.03
Service's earlier position, 4430.02
toggling grantor-trust status, 1220.04
trust migration, 2070.06
Removal of trustees by the court, 1440, 1440.03, 4480, 4480.01
breach of trust, 4480.02
deference to the settlor's choice, 1440.05
equitable deviation, 4480.05
fiduciary status of protectors, 1440.06
grounds under the Uniform Trust Code, 1440.04
Jersey, 1440.02
lack of cooperation among cotrustees, 4480.03
McKinney decision, 4480.07
Pennsylvania, 4480.06
qualified beneficiaries, 4480.05, 4480.06
removal for cause, 4480.04
sources of the jurisdiction, 1440.01
Repatriation orders, 1160.06, 1590.05
contempt, 1570.01
domestic and foreign trust classification, 1250.06, 3680.05
duress clauses, 330.06, 1290.04, 1480.01, 1480.03, 1480.04, 1560.06
Representation. See Virtual representation
Rescission for mistake
Belize, 2180.04
Jersey, 2180.01, 2180.02, 2180.03, 2180.05
Nevis, 2180.04
Pitt v. Holt decision, 2180.01
Residence trusts, 3350, 3350.03
end of the term, 3350.06
mortgages and lenders, 3350.07
personal residence in trust, 3350.02
property tax and homestead, 3350.07
qualified personal residence trusts, 3350.02
reformation, 3350.05
required provisions, 3350.04
statutory exception, 3350.01
Retained powers, 340.05, 350.02, 350.03, 350.05, 350.07
adverse parties, 350.04, 350.05
duress clauses, 340.07
dynasty trusts, 2370.03
general rule, 340.01
intentional grantor trust status, 350.06
irrevocable trusts with a retained interest, 340.03
power of direction, 330.01
powers as property, 340.06
powers of withdrawal, 340.04
protector and the settlor's, 1510.04
removal and replacement of trustees, 350.04
revocable trusts, 340.02
spendthrift provisions, 340.07
Retention clauses, 3120.01
closely held businesses, 3220.04
Delaware, 3550.04
duty to diversify, 3120.02, 3120.04, 3550.04
Ohio, 3120.02
Retirement accounts
art and collectibles, 3440.01, 3440.02, 3440.04
divorce and marital claims, 2440.04
Employee Retirement Income Security Act, 2440.04
precious metals, 3420.07, 3440.01, 3440.04
qualified domestic relations orders, 3970.07
spousal lifetime access trusts, 3970.07
Revenue Procedure 2021-3
decanting, 1801.04, 1820.01, 1870.05, 1890.03
Revenue Ruling 2011-28, 4030.04
Revocable trusts, 320.01, 320.04, 320.06, 430.08, 630.05, 2520.06, 3310.02
contests after death, 320.05
divorce and marital claims, 2440.03
exercise by agents and fiduciaries, 320.03
modern statutory position, 320.07
property tax and homestead, 3340.06
retained powers, 340.02
revocation and amendment, 320.02
revocation on divorce, 2440.03
self-settled trusts, 3710.05
settlor's standing, 360.02
standing to enforce trusts, 360.02
Rhode Island
perpetuities repeal, 2230.05
prudent investor rule, 920.06
Uniform Prudent Investor Act, 920.06
Rollins decisions, 780.04, 3030.05, 3030.06, 3070.03
directed trustees, 880.03, 1030.01, 1030.02, 1030.05, 1040.02
Rule against perpetuities, 160.01, 2210, 2230, 2240, 2250, 2250.01, 2250.02, 2260, 2280, A30
Arizona, 2250.06
Belize, 2280.04
Brown Bros. Harriman v. Benson decision, 2250.03, 2250.04
Cook Islands, 2280.04
Delaware tax trap, 2260.05
honorary trusts, 2720.03
Illinois, 2230.07
Nevada, 2250.05
New York, 480.02
noncharitable purpose trusts, 2720.03
North Carolina, 2250.03
no-rule list, A30.01
Ohio, 2230.07
perpetuities savings clause, 2210.05
recent perpetuities changes, A50.01
Uniform Statutory Rule Against Perpetuities, 2220.02, A30.01
wait-and-see, 2220.02
See also Dynasty trusts
S
S corporation stock, 3020.04, 3240.04, 3240.05, C40.05
business advisers, 3290.01
business trusts, 3240.07, 3240.08, 3290.01
choosing between them, 3240.09
closely held businesses, 4670.06
concentrated positions, 4670.06
decanting, C40.05
electing small business trusts, 3240.07, 3240.08
eligibility problem, 3240.01
family members as one shareholder, 3240.02
grantor trusts, 3240.03
qualified subchapter S trusts, 3240.05, 3240.06
sales to grantor trusts, 3270.04
underlying companies, 3020.05
voting trusts, 3230.04
Sales to grantor trusts
below-market loans, 4050.04
intentionally defective grantor trusts, 4050.01, 4050.02, 4050.03, 4050.04, 4050.05, 4050.06, 4050.07
private letter rulings, 4050.01
Rothstein decision, 4050.02
Scheffel v. Krueger decision, 3640.02
SEC v. Brennan decision
domestic and foreign trust classification, 1250.06
duress clauses, 1480.04, 1560.06
flight clauses, 1250.04, 1250.06, 1560.06
offshore protectors, 1570.01, 1570.04
repatriation orders, 1570.01
Section 1361
decanting, C40.05
electing small business trusts, 3240.07
qualified subchapter S trusts, 3240.05
S corporation stock, 3020.04, 3020.05, 3230.04, 3240.01, 3240.02, 3240.03, 3240.04, 3240.05, 3240.07, 3270.04, C40.05
Section 2036, 1280.07, 3460.08, 4260.02
adverse parties, 1280.07
bona fide sale exception, 3080.01
Bongard decision, 3080.01
estate tax and the creditor question, 3760.04
family members as advisers, 870.05
retained powers, 350.02
valuation discounts, 3080.02, 3080.03, 3080.04
voting trusts, 3230.05
Section 2041, 1280.06, 1280.07, 2850.05
adverse parties, 1280.07
beneficiary as trustee, 1860.03, 4420.02
decanting, 1860.03
Section 2044
death of the spouse, 4280.05
Lifetime QTIP trusts, 2320.07, 4210.07, 4280.04, 4280.05, 4280.06, 4280.09
qualified terminable interest property, 2320.07, 4280.04, 4280.06
Section 2523(f)
death of the spouse, 4280.05
Lifetime QTIP trusts, 4210.07, 4280.04, 4280.05, 4280.07, 4280.09
Section 2601 and grandfathering, 1870.01
decanting, 1710.06, 1801.03, 1870.03, 1890.03
grandfathered trusts, 1680.05, 1870.02, 1970.05, 2130.06, 2170.07, 2380.01, 2380.02, 2380.03, 2380.04
material purpose doctrine, 1680.05
Section 2632 allocation, 1890.02, 2310.06, 2340.01, 2340.06
GST exemption, 2340.04
GST trust definition, 2340.04
section 2642(g) relief, 2340.08
Section 6048, 2080.06, 4370.01, 4370.02, 4370.03, 4370.06
domestic and foreign trust classification, 2080.05, 4301.02, 4301.05, 4370.01, 4370.03, 4370.06, 4390.01
Section 6677, 4370.03, 4370.04, 4370.06
domestic and foreign trust classification, 4301.05, 4370.03, 4370.06
Section 672(e) spousal attribution, 4010.05, 4210.04
adverse parties, 1280.02, 1280.07, 4010.07
divorce and marital claims, 3970.04, 3990.04, 4270.03
floating spouse, 4270.03, 4270.04
spousal lifetime access trusts, 3970.04
Section 672(f)
adverse parties, 4010.04, 4010.07
Common Reporting Standard, 4380.01, 4380.03
Foreign Account Tax Compliance Act, 4380.01, 4380.02, 4380.03
foreign grantor trusts, 1840.04, 4350.01, 4350.02, 4350.03, 4350.04, 4350.05, 4350.06, 4350.07, 4380.02
related or subordinate parties, 4010.04, 4010.07, 4350.02
throwback rules, 4350.07
Section 674, 1240.03, 1280.07, 4020.02, 4020.03, 4020.04, 4020.06, 4020.13
adding and removing beneficiaries, 1280.04
adverse parties, 350.05, 870.06, 1280.03, 1280.07, 2850.06, 4120.03
distribution advisers, 870.03
exceptions for the settlor's own powers, 4120.04
family members as advisers, 870.03, 870.06
independent trustees, 4020.05, 4420.04
nonadverse parties, 1280.03
related or subordinate parties, 2850.06
Section 675, 870.06, 4020.09, 4020.13, 4090.04, 4210.03
673, 675 and 676, 4120.06
adverse parties, 1380.05, 2850.06, 4010.04, 4020.08
family members as advisers, 870.04, 870.06
intentionally defective grantor trusts, 4050.01, 4050.02, 4050.03
investment advisers, 870.04, 2840.04
nonfiduciary powers, 4020.10, 4030.02, 4030.03, B10.05
power of substitution, 4030.01, 4030.02, 4030.03
Section 677, 4020.03, 4020.12, 4020.13, 4040.04, 4040.06, 4090.04, 4201.02, 4210.04
adverse parties, 3760.06, 4120.05
divorce and marital claims, 3970.04, 3970.05, 4640.08
grantor-trust status under (a), 4210.03
Lifetime QTIP trusts, 4210.07, 4280.04, 4280.09
Section 678, 1280.01, 1280.05, 1280.07, 4001.03, 4020.13, 4040.01, 4040.02, 4040.03, 4040.04, 4040.05, 4040.06, 4120.07, 4150.03
disclaimers, 4040.03
lapse of powers, 4040.05
domestic and foreign trust classification, 2080.05
nonresident-alien families, 4340.08
pre-immigration planning, 4340.08
United States beneficiaries, 4340.05
Section 684, 2080.05
automatic migration provisions, 4330.04
domestic and foreign trust classification, 2080.05, 4340.06
inadvertent migration, 4330.04
Section 7701(a)(30)
domestic and foreign trust classification, 1580.01, 1880.03, 1880.05, 2790.05, 2870.07, 4301.05, 4310.01
Seed phrases, 3560.07
Self-dealing, 670.08
arbitration clauses, 570.06, 4540.06
directed trustees, 660.06, 1040.02
duty of loyalty, 2570.03
Self-settled trusts, 3710, 3760, 3770, 3790, 3880.03, 3940.01, 4101.04
contributing spouse as settlor, 3940.03
Dahl decision, 3940.02
divorce and marital claims, 3940.04
donor's creditors and domestic statutes, 4260.06
incomplete-gift nongrantor trusts, 4160.04
marital property, 3940.04
Nevada, 470.06
revocable trusts, 3710.05
settlors who become beneficiaries, 3880.02
spendthrift provisions, 3790.01, 3790.02, 3790.03, 3790.04, 3790.05
state income taxation of trusts, 4160.04
third-party trusts, 3880.01
Wyoming qualified spendthrift trusts, 3790.01, 3790.02, 3790.03, 3790.04, 3790.05
See also Fraudulent transfers
Separate property, 4090.05, 4290.05
community property, 3910.02, 4280.01
divorce and marital claims, 3850.01, 3850.02, 3890.04, 3890.05, 3910.01, 3910.04, 3910.06, 3910.07, 3920.01, 3920.02, 3920.05, 3940.04, 3960.04, 3960.06, 3970.04, 3990.02, 3990.04
Lifetime QTIP trusts, 4280.03, 4280.09
marital property, 3850.02, 3910.02, 3910.03, 3910.06, 3910.07, 3920.03, 3920.04, 4280.01, 4280.02
premarital agreements, 3960.04, 3960.06
Texas, 3910.03
Settlement agreements, nonjudicial. See Nonjudicial settlement agreements
Settlor intent, 310
Claflin doctrine, 120.03, 1610.01, 1610.02, 1610.03, 1610.04, 1610.05
default character of trust law, 310.01
disclaimers, 1930.05
equitable deviation, 310.07
intent in construction, 310.04
mandatory rules, 310.02
material purpose doctrine, 120.03, 310.05, 1610.01, 1610.02, 1610.03, 1610.05, 1930.01, 1930.02, 1930.03, 1930.04, 1930.05, 1930.06, 4660.02
spendthrift provisions, 1610.04, 1930.02, 1930.04
termination by the terms, 310.08
trust migration, 4660.02
trust purposes, 310.03
Uniform Trust Code section 105, 310.02
Settlor's standing
charitable trusts, 360.03
standing to enforce trusts, 360.01, 360.02, 360.03, 360.04, 360.05, 360.06
Sham trusts, 380.01, 380.02, 380.09
alter ego, 380.07
conduct as evidence, 380.08
illusory and ineffective trusts, 380.06
limits of the doctrine, 380.04
reckless trustee, 380.03
sham in the alternative, 380.05
Silent trusts, 170.04, 460.05, 2501.03, 2530, 2540, 2550, 2550.01, 2560, 2560.04, 2570, 2590, 2590.04, 2590.07, A40
Alaska, 2540.07
choose the law first, 2590.01
consent and release, 2560.06
define the period, 2590.02
designated representatives, 2590.06, 2670.01
five-year period in practice, 2560.05
limitation argument, 2530.06
mandatory rules, A40.01
one-year and five-year periods, 2560.02
private letter rulings, 4150.01
provide a representative, 2590.03
quiet periods, 2590.06
report to a representative, 2560.03
settlor cannot shorten the period, 2560.01
South Dakota, 2540.04
Uniform Trust Code section 105, A40.01
See also Designated representatives
Silver. See Precious metals
Situs, 220.04, 220.06, 280.01, 450.11, 980.06, 1250.01, 1250.03, 1950.05, 2010, 2020, 2030, 2040, 2050, 2060, 2070, 2080, 2090, 3010.08, 4190.02, 4440.01, 4620.03, B10.03
ancillary administration, 3380.02
Belize, 1250.02
California, 280.07
changing and governing law, 1780.03
Common Reporting Standard, 4380.06
conflict of laws, 240.06
declarations and recitals, 4620.01, 4620.02
designating the principal place of administration, 2020.01
domestic and foreign trust classification, 1250.06, 3380.03, 3380.04
Foreign Account Tax Compliance Act, 4380.05, 4380.06
governing law and place of administration, 430.02
Illinois, 280.05
Kaestner decision, 280.04
Minnesota, 280.05
Nevada, 4440.04
New York, 290.06
Pennsylvania, 280.07
power to change, 4620.09
principal place of administration, 4620.08
SEC v. Brennan decision, 1250.06
section 1031 exchanges, 3380.06
special holdings, E10.03
special-holdings advisers, E10.03
trust directors, 620.07
trust migration, E50.01, E50.02, E50.03
trust situs and tax, 4380.05
Uniform Conflict of Laws in Trusts and Estates Act, 240.06
Wyoming, 4440.05
Situs trustees, 4440.01
consequences for design, 4440.06
Delaware, 4440.02
Nevada, 4440.04
qualified dispositions, 3730.02
qualified trustees, 3730.02, 3740.03
South Dakota, 4440.03
Wyoming, 4440.05
Wyoming qualified spendthrift trusts, 3740.03
Wyoming Uniform Trust Code, 2050.07
Skip persons, 2310.02, 2360.05, 2360.06
decanting, 1870.03, 1870.07, 1890.03
direct skips, 2310.01, 2310.04
dynasty trusts, 2390.03, 2390.05, 2390.06
generation assignment, 2320.01, 2320.02, 2320.03, 2320.04, 2320.05, 2320.06
GST trust definition, 2340.04
inclusion ratio, 2120.02, 2390.06
Lifetime QTIP trusts, 2320.07
qualified terminable interest property, 2320.07
section 2632 allocation, 2340.04
taxable distributions, 1870.07
taxable terminations, 2310.01
SLATs. See Spousal lifetime access trusts
Solvency, 940.07, 1430.03, 1540.04, 2501.04, 3540.01, 3560.01, 3780.03, 3780.05
Alaska, 3780.01
avoiding the bankruptcy forum, 3780.02
Bankruptcy Code section 548(e), 3780.01
Belize, 260.05, 1290.06, 1540.05, 3680.02
due diligence, 3780.04
duress clauses, 1290.06, 1480.05
firewall statutes, 3980.02, 3980.03, 4570.04
Hague Trusts Convention, 250.05, 250.06, 250.07
Source income, 4190.01
distributable net income, 4360.01, 4360.02
domestic and foreign trust classification, 4301.02, 4360.02, 4380.04
Foreign Account Tax Compliance Act, 4380.02, 4380.03, 4380.04
South Dakota, 210.09, 290.06, 730.10, 850.04, 1120.03, 1320.06, 1760.06, 1940.07, 2050.03, 2230.02, 2540.04, 2660.05, 2670.06, 2830.02, 2830.03, 3140.02, 3840.03, 4440.03
adverse parties, 3760.06
arbitration clauses, 4530.05, 4590.03
ascertainable standards, 3840.03
Cayman Islands, 1150.07
combination and division of trusts, 2110.07
confidentiality of trust litigation, 2540.05
conflicts of interest, 1920.08, 2640.05, 2640.07
court representatives, 2650.04
designated representatives, 2650.04
directed trustees, 780.05
exclusive jurisdiction, 4570.05
fiduciary powers, 1320.06
forum selection clauses, 4570.05
investment committees, 290.06, 820.05
mandatory distributions, 3650.04
material purpose doctrine, 1670.05
minor and unborn beneficiaries, 1920.08
no-contest clauses, 4550.03, 4590.03
nonadverse parties, 3760.06
noncharitable purpose trusts, 2750.07
Peierls decisions, 2050.08
perpetuities repeal, 2230.02
power of direction, 640.06
probable cause exception, 4550.03, 4550.07
qualified beneficiaries, 2540.05
South Dakota Trust Code, 2750.03, 3650.04, 3840.02, 3840.04
South Dakota Trust Company Act, 2830.02, 2830.03
support interests, 3840.02, 3840.04
Wellin decisions, 640.06
Wyoming Uniform Trust Code, 1150.07
South Dakota Trust Code, 460.04, 460.08, 3660.03
Alaska, 2750.07
arbitration clauses, 4590.03
California, 4550.03
enforcers, 2750.03, 2750.07, 2880.04
no-contest clauses, 4560.03, 4590.03
noncharitable purpose trusts, 2780.04, 2880.04
South Dakota Trust Company Act, 2840.02
private trust companies, 2830.01, 2830.08
Special holdings, 190.04, 670.04, 3180.01, 3180.04, 3180.05
closely held businesses, 840.02, 3190.04, 4670.06
common drafting errors, 4690.01
conflicts of interest, 840.06
distribution advisers, E10.03
ending the arrangement, 3180.06
investment advisers, 890.02, 3130.06
retention and sale, 3180.02
special-holdings advisers, 840.01, 840.02, 840.03, 840.04, 840.05, 840.06, 890.02, 3190.02, 4690.01, E10.03
voting and directors, 3180.03
Special-holdings advisers, 840
closely held businesses, 840.02
common drafting errors, 4690.01
conflicts of interest, 840.06
distribution advisers, E10.03
investment advisers, 890.02
special holdings, 840.01, 840.02, 840.03, 840.04, 840.05, 840.06, 890.02, 3190.02, 4690.01, E10.03
Special-needs trusts
disinheritance, 2480.01, 2480.02, 2480.03, 2480.04, 2480.05, 2480.06
dynasty trusts, 2480.04
equitable deviation, 1640.06
incapacity, C30.03
no-contest clauses, 2480.02
special needs, 1780.05
Stuchell decision, 1640.06
Spendthrift provisions, 3620, 3630, 3640, 3650, 3660, 3670, 3680, 3690, 3690.04
assisted reproduction, 4640.01
Belize, 3680.02
Claflin doctrine, 1610.04, 1610.05
content of the restraint, 3690.02
Cook Islands, 3680.04
cy pres, 1650.06
distribution standards, 4640.03
divorce and marital claims, 4640.08
domestic and foreign trust classification, 3680.05
equitable deviation, 1640.05
exception creditors, 3690.06
family bank, 4640.04
governing law and administration, 3690.07
holdback provisions, 3690.05
incentives, conditions and powers of appointment, 4640.05
independent trustees, 3690.05
material purpose doctrine, 1610.04, 1610.05, 1930.02, 1930.04
Nevis, 3680.03
notice to beneficiaries, 3740.05
payments to third parties, 3690.03
protective trusts, 3680.01
provision as part of a design, 3690.01
qualified trustees, 3740.03
review of existing trusts, 3690.08
self-settled trusts, 3790.01, 3790.02, 3790.03, 3790.04, 3790.05
spendthrift article, 4640.06
spendthrift trusts, 120.04
support trusts, 3810.07
United Kingdom, 3680.01
Wyoming qualified spendthrift trusts, 3740.01, 3740.02, 3740.04, 3740.05, 3740.06, 3740.07, 3790.01, 3790.02, 3790.03, 3790.04, 3790.05
Wyoming Uniform Trust Code, 440.08, 3740.02, 3740.04, 3740.06
See also Exception creditors; Self-settled trusts
Spousal lifetime access trusts
divorce and marital claims, 3970.01, 3970.02, 3970.03, 3970.04, 3970.05, 3970.06
qualified domestic relations orders, 3970.07
retirement accounts, 3970.07
section 672(e) spousal attribution, 3970.04
See also Reciprocal trust doctrine
Spouse definitions, 4201.02, 4210.06
common drafting errors, 4690.01, 4690.04
divorce and marital claims, 3890.05, 3950.06, 3950.07, 3970.05, 3990.04, 4270.03, 4640.08
floating spouse, 4270.03, 4270.05
Spouses as beneficiaries, 2440, 2440.01, 2440.05, 4020.12, 4210, 4210.03, 4210.06, 4220, 4230, 4230.02, 4230.06, 4240, 4250, 4260, 4260.05, 4270, 4280, 4290, 4290.05
community property, 4280.01
Dahl decision, 3940.02
death of the spouse, 4260.07, 4270.01, 4270.02, 4270.04, 4280.05
decanting, 1780.06
defining the spouse of a descendant, 2440.02
divorce and marital claims, 2440.03, 3850.01, 3890.04, 3910.06, 3940.04, 3950.06, 3960.04, 3970.01, 3970.02, 3970.03, 3970.04, 3970.05, 3970.06, 3990.02, 4270.03, 4640.08
Estate of Levy decision, 4240.03
excluding the spouse, 4110.09
family office rule, 2970.08
floating spouse, 4270.01, 4270.02, 4270.03, 4270.04, 4270.05
gift splitting, 4210.07, 4220.01, 4220.02, 4220.03, 4220.04, 4220.05
incomplete-gift nongrantor trusts, 4280.09
independent trustees, 4290.01
Investment Advisers Act, 2970.08
Lifetime QTIP trusts, 4210.07, 4280.03, 4280.04, 4280.05, 4280.06, 4280.07, 4280.08, 4280.09
marital property, 3910.06, 4280.01, 4280.02
notes on the spouse access provision, 4290.02
proposal and spousal trusts, 4230.05
qualified terminable interest property, 4280.03, 4280.04, 4280.06, 4280.07, 4280.08
reciprocal trust doctrine, 4240.03, 4270.05
retirement accounts, 2440.04, 3970.07
revocable trusts and the surviving spouse, 320.06
section 672(e) spousal attribution, 4010.05
self-settled trusts, 3940.01, 3940.03, 3940.04
Smaldino decision, 4250.02, 4250.03
spendthrift provisions, 4640.01, 4640.02, 4640.03, 4640.05, 4640.06, 4640.07, 4640.08
spousal lifetime access trusts, 3970.01, 3970.02, 3970.03, 3970.04, 3970.05, 3970.06
spousal trusts, 4650.05
third-party trusts, 3950.06
Spread Trustee decision
Armitage v. Nurse decision, 520.02, 520.03, 520.04, 520.05, 520.06
gross negligence, 550.01, 550.02, 550.03, 550.04, 550.05, 550.06
Staking and forks
airdrops, 3570.01, 3570.02, 3570.03, 3570.04, 3570.05, 3570.06
Bitcoin and Ether, 3570.06
Standing to enforce trusts, 2730.02
Cayman Islands, 1110.08, 2760.02
charitable trusts, 360.03
designated representatives, 560.06, 1170.07
enforcers, 1170.04, 1170.07, 2750.02, 2770.02, 2770.08
settlor's standing, 360.01, 360.02, 360.03, 360.04, 360.05, 360.06
State income tax residency, 4170.01
California, 280.07, 4170.05, 4170.06, 4170.07
incomplete-gift nongrantor trusts, 4160.04, 4170.02, 4170.06
New York, 280.06, 290.06, 2080.02, 4160.02, 4170.02, 4170.04, 4170.07
state income taxation of trusts, 280.06, 2080.02, 4080.04, 4160.01, 4160.02, 4160.04, 4170.04
State income taxation of trusts, 280.01, 2850.09, 4080.02, 4080.03, 4620.03
2024 proposals, 4080.01
domestic and foreign trust classification, 1880.01
incomplete-gift nongrantor trusts, 4160.02, 4160.04, 4160.05, 4170.02
New York, 280.06, 2080.02, 4160.02, 4170.02, 4170.04, 4170.07
Pennsylvania, 4080.04
self-settled trusts, 4160.04
source income, 4160.03
state income tax residency, 280.06, 4170.04
state question, 4160.01
Statute of Uses, 110.03, 110.04, 120.01
enforcement in Chancery, 110.02
legacy for modern design, 110.06
medieval use, 110.01
passive trusts, 110.05
Statutes of limitations and repose
Delaware, 1070.03
laches, 1070.01, 1070.02, 1070.03, 1070.04, 1070.05
Mennen decisions, 1070.04
reports and limitation periods, 2670.02
Stepchildren
family office rule, 2970.05, 2970.08
Investment Advisers Act, 2970.05, 2970.08
Step-up in basis, 2310.06
art and collectibles, 3440.06, 3440.08
basis at death, 4070.05, 4180.08, 4340.07
See also Basis at death
Substance abuse provisions, 2460.05
Substantial decisions, 2090.06
automatic migration provisions, 4330.01, 4330.02, 4330.06, 4330.07
Common Reporting Standard, 4380.01, 4380.03
control test, 4320.01, 4320.02, 4320.03, 4320.04, 4320.06, 4320.07, 4320.08, 4330.06
domestic and foreign trust classification, 1250.06, 1580.01, 1580.02, 1580.03, 1580.05, 1880.03, 1880.04, 1880.05, 2070.05, 2080.03, 2870.07, 4310.01, 4320.02, 4320.03, 4320.04, 4320.06, 4320.08, 4380.04, 4650.06
Foreign Account Tax Compliance Act, 4380.01, 4380.03, 4380.04
foreign grantor trusts, 4320.07, 4350.06, 4350.07
inadvertent migration, 1580.05, 2080.04, 4330.01, 4330.02, 4330.07
investment advisers, 4320.05
protector powers, 1580.02
section 672(f), 4350.06, 4350.07
Treasury Regulations section 301.7701-7, 1250.05, 2080.03
Substantial relation test, 220.03
conflict of laws, 240.02, 240.03, 240.05, 240.07, 3770.02
Restatement (Second) of Conflict of Laws, 3770.02
Uniform Conflict of Laws in Trusts and Estates Act, 240.02, 240.03, 240.05, 240.07
Substitution, power of. See Power of substitution
Successor trustees, 2020.06, 2090.02, 3560.07
McLean v. Ponder decision, 1220.06, 1340.05
Missouri, 1160.02
Peierls decisions, 2040.01
removal and replacement of trustees, 1220.06, 4430.04, 4490.02
resignation and successor appointment, 4490.04
trust migration, E50.03
Support interests, 3660.03
exception creditors, 3820.05, 3930.02
South Dakota, 3650.04, 3840.02, 3840.03, 3840.04
Surcharge
arbitration clauses, 4540.05, 4540.06
duty of prudence, 130.02, 3360.02
duty to diversify, 3110.06, 3120.02, 3220.03
Suspension of the power of alienation, 1750.05
North Carolina, 2230.06, 2250.03
perpetuities repeal, 2230.01, 2230.02, 2230.04, 2230.06
rule against, 2210.07
Swap powers. See Power of substitution
T
Tannen decision
alimony and support, 3930.01, 3930.02, 3930.04, 3930.06
divorce and marital claims, 3920.05, 3930.01, 3930.04, 3930.06, 3950.07
Tax modifications, 630.08, 630.09, 890.01, 1320.04, 2101.05, 2170.01, 2170.09
charitable deductions, 2170.05
combination and division of trusts, 1660.01, 1660.03, 1660.05
federal recognition, 2170.03
grandfathered trusts, 2170.07
material purpose doctrine, 430.05, 4660.02
nonfiduciary powers, 630.01, B10.05
reformable interest and the ninety-day rule, 2170.06
reformation, 1660.01, 1660.03, 1660.05, 2160.08, 2170.02, 2170.05, 2170.07, 2170.08, 2190.05
state variations, 2170.04
Tax reimbursement clauses
adding a reimbursement clause later, 4060.05
creditors' law and the reimbursement clause, 4060.02
Delaware, 4060.03
economic effect, 4060.01
independent trustees, 4060.06
New York, 4060.04
Taxable distributions, 1870.01, 2310.05, 2310.06
decanting, 1870.05, 1870.07, 1890.03
Tennessee, 770.01, 770.02, 770.06, 1910.07, 2240.08
Delaware Family Trust Company Act, 2830.07
designated representatives, 2650.07
New Hampshire trust law, 2650.07
Termination of trusts, 350.03, 1610, 1620, 1620.04, 1630, 1640, 1650, 1670, 1680, 1690
adding and removing beneficiaries, 1260.01, 1260.02, 1260.03, 1260.04, 1260.05
capricious purposes and termination, 2740.06
charitable trusts, 1650.01
Claflin doctrine, 1610.05
cy pres, 1650.01, 1650.02, 1650.03, 1650.04, 1650.05, 1650.06
division and termination, 2290.05
fees and expenses, 4460.04
guardians ad litem, 1630.03
income beneficiaries, 1680.06
material purpose doctrine, 430.05, 1610.05, 1620.05, 1950.09, 4660.02
minor and unborn beneficiaries, 1630.03
realization events, 1680.06
retained powers, 350.03
termination by the terms, 310.08
trust migration, 4660.02
ultimate takers, 4680.02
Uniform Trust Code section 411, 430.05, 1620.01, 1620.03, 1620.07
Texas, 280.05, 480.14, 2240.07
arbitration clauses, 4520.02, 4520.03
child support claims, 3650.06
decanting, 480.13
Delaware section 3339, 1920.09
discretionary support standards, 3650.06
due process, 280.05
exculpation clauses, 480.13
law of administration, 2040.01
mandatory rules, 480.12, 510.09
marital property, 3910.03
minor and unborn beneficiaries, 1920.09
no-contest clauses, 4550.04
Peierls decisions, 2040.01
qualified beneficiaries, 2540.12
Rachal decision, 4520.03
Schoneberger decision, 4520.02
separate property, 3910.03
Third-party trusts, 3620.06, 3701.02, 3701.04, 3950.04, E10.01
beneficial interest, 3950.02
design objective, 3950.01
distribution standard, 3950.03
divorce and marital claims, 3901.02, 3901.04, 3910.07, 3920.02, 3930.01, 3950.06, 3950.07
dynasty trusts, 260.07, 2480.04
exception creditors, 3630.08, 3901.02, 3950.07
family bank, 3950.05
self-settled trusts, 3710.05, 3880.01, 3880.02
special-needs trusts, 1740.07, C30.03
use of trust property, 3950.05
Throwback rules, 4370.04
accumulation distributions, 4360.03
distributable net income, 4360.01, 4360.02, 4360.05, 4360.07
domestic and foreign trust classification, 4301.02, 4301.05, 4360.02, 4390.04
family bank, 4360.06
foreign grantor trusts, 4350.07
interest charge on accumulations, 4360.04
section 672(f), 4350.07
trust migration, 4390.04
undistributed net income, 4360.01, 4360.03, 4360.04, 4360.05, 4360.07
United States persons, 4301.05
use of trust property, 4360.06
Toggling grantor-trust status, 4070
removal and replacement of trustees, 1220.04
toggle mechanisms, 4070.02
Tort creditors
drafter's response, 3640.05
Scheffel v. Krueger decision, 3640.02
spendthrift provisions, 3640.01
statutes that close the question, 3640.04
statutory tort and restitution exceptions, 3640.03
Total return trusts, 670.04, 3401.03, 3550.02
conflicts of interest, 2640.06, 2640.07
duty of impartiality, 3410.04
Transmutation, 3430.04, 3430.08, 3430.09, 4290.05
active appreciation, 3920.02
divorce and marital claims, 3901.04, 3910.07, 3920.01, 3920.02, 3920.05
Lifetime QTIP trusts, 4280.02
marital property, 3910.07, 3920.01, 3920.03, 3920.04, 3920.05, 3920.06, 4280.02
separate property, 3920.03
Treasury Regulations section 25.2511-2, 2850.01, 3760.02, 4101.05, 4210.02
incomplete-gift nongrantor trusts, 4130.01, 4130.02, 4130.04, 4130.05, 4130.06, 4130.08, 4130.09
Treasury Regulations section 301.7701-7
automatic migration provisions, 1580.04, 4330.02, 4330.04
control test, 4320.01, 4320.02, 4320.06, 4320.08
court test, 4310.01, 4310.02, 4310.03, 4310.04
domestic and foreign trust classification, 1250.06, 1580.01, 1580.05, 2070.05, 2080.03, 4301.05, 4310.01, 4310.02, 4310.03, 4310.04, 4320.06, 4320.08, 4330.05, 4380.04
inadvertent migration, 1580.05, 2080.04, 4330.02
substantial decisions, 1580.02, 2080.03, 4320.02
tax consequences of moving, 1250.05
Trust advisers, 610.03, 730.09, 740.02, 740.05, 770.03, 801.02, 810, 820, 830, 840, 850, 860, 860.01, 870, 870.03, 870.04, 870.05, 870.06, 880.01, 950.03, 2980.05, 3490.03, 4630.05
adviser and agent, 810.04
adviser and protector, 810.03
adviser and trustee, 810.01
beneficiary-designated advisers, 860.03
business advisers, 3280.07, 3290.01
Cassity decision, 950.05
Delaware, 710.09, 1120.05, 3130.01
Delaware section 3313, 450.04, 710.01, 710.02, 710.03, 710.05, 710.06, 710.07, 710.08, 1120.05
directed trustees, 450.04, 660.10, 760.03, 1030.01
directing advisor's liability, 760.04
distribution advisers, 830.01, 830.02, 830.03, 830.04, 830.05, 870.03, 890.03
enforcers, 1170.01, 1170.02, 1170.03, 1170.04, 1170.05, 1170.06, 1170.07
excluded cotrustees, 3130.01, 3130.03, 3130.04, 3130.05, 3130.06, 3130.07, 3130.08
excluded fiduciaries, 730.03, 770.04, 3130.03, 3130.05, 3130.07, 3130.08
family members as advisers, 870.01, 870.05, 870.06
fiduciary status of advisors, 730.07
gross negligence, 710.04, 740.04, 890.05
investment advisers, 660.10, 750.09, 820.01, 820.02, 820.03, 870.04, 950.05, 1030.01, 3130.06, 3730.03, 3750.06, 4320.05
investment and distribution, 740.07
investment committees, 820.01, 820.02, 820.03, 820.05
liability of trust directors, 1050.01, 1050.02, 1050.03, 1050.04, 1050.05, 1050.06, 1050.07, 1050.08
Nevada, 740.04, 740.09, 850.05
power of direction, 330.05, 810.02, 830.03
qualified dispositions, 3730.03
special holdings, 840.01, 840.03, 840.04, 840.05, 840.06, 890.02, E10.03
special-holdings advisers, 840.01, 840.02, 840.03, 840.04, 840.05, 890.02, E10.03
trust directors, 330.05, 810.02, 950.07, 1050.01, 1050.02, 1050.04, 1050.05, 1050.06, 1050.07, 1050.08, 1170.05
United States persons, 4320.05
Trust as contract, 580.01, 580.06
critique of mandatory limits, 580.05
Hansmann and Mattei's property account, 580.03
Langbein's contractarian account, 580.02
mandatory rules, 580.04
Trust directors, 620.07, 650.01, 650.07, 650.08, 680.07, 950.07, B20.02, B20.03, B40.02, B40.03
absorption of the law of trusteeship, 650.03
anomaly of the default approach, 650.02
breach of trust, 620.06, B40.01
directed trustees, 620.04, B30.01, B30.02, B30.03
directed trustee's duties, 1090.05, B30.03
enforcers, 1170.05
family governance, 2940.02
gross negligence, 650.04, 1090.05, B30.01
health-care professionals, 650.06
liability of trust directors, 1050.01, 1050.02, 1050.03, 1050.04, 1050.05, 1050.06, 1050.07, 1050.08
Mennen decisions, 1050.03
power of direction, 330.05, 620.04, 810.02, B10.02, B20.01
sensitivity to context, 650.05
trustee bonds, B40.04
Uniform Directed Trust Act, 1140.01, 1210.05, A10.01
Uniform Trust Code section 1008, 650.04
Trust disputes, 2570.07, 2670.06, 2890.06, 2960.06, 4510.01, 4680.01
acceptance and funding, 4680.07
adverse parties, 4680.04
arbitration clauses, 570.06, 1960.07, 2960.04, 4510.04, 4520.02, 4530.07, 4540.06, 4590.03
business advisers, 3280.07
common drafting errors, 1270.02
confidentiality of trust litigation, 4540.06
contests after death, 320.05
Delaware, 4550.05
disinheritance, 2480.02
dispute resolution, 1270.04, 4680.03
execution formalities, 4680.06
family disputes, 3280.03
family offices, 2960.02, 2960.05
Florida, 4550.07
incapacity, 3280.02
interpretive power, 1270.01
key person risk, 3280.01
kinds of dispute, 2960.01
liability of trust directors, 1050.08
mandatory rules, 4510.02
mediation, 2960.02
New Hampshire trust law, 4550.06
no-contest clauses, 570.06, 2480.02, 4510.03, 4510.04, 4550.01, 4550.02, 4550.04, 4550.05, 4560.01, 4560.02, 4560.03, 4590.03
power of direction, 640.06
probable cause exception, 4550.02, 4550.07, 4560.01, 4560.03
Schoneberger decision, 4520.02
Texas, 4550.04
trust directors, 1050.08
Trust migration, 2070, 2090, 4330.04, 4390.02, E50.01, E50.02
administering for classification, 4390.07
arriving in the United States, 2070.07
automatic migration provisions, 1580.04, 4330.01, 4330.02, 4330.03, 4330.04, 4330.06, 4330.07, 4330.08
Belize, 2070.02
Canada, 4390.01
control test, 4330.06
Cook Islands, 2070.04
court test, 4330.05
decanting, 4660.01, 4660.02, 4660.03, 4660.04, 4660.05, 4660.06, 4660.07
domestic and foreign trust classification, 1580.04, 2070.03, 2070.05, 2070.08, 4330.05, 4390.01, 4390.04, 4390.06
drafting the migration provision, 2090.07
express powers to move the trust, 2030.01
inadvertent migration, 4330.01, 4330.02, 4330.03, 4330.07, 4330.08
inbound move, 4390.03
migration and duration, 2280.05
nonjudicial settlement agreements, 160.07, 4660.04
See also Change of governing law; Situs
Trust protectors, 750.03, 760.05, 810.03, 1150.02, 1160.05, 1180.01, 1180.02, 1280.03, 1280.05, 1280.06, 1280.07, 1290.02, 1290.03, 1340.07, 1380.06, 1470.03, 1470.04, 1480.05, 1510.03, 1510.04, 1520.06, 1540.04, 4630.07
adverse parties, 1280.03, 1280.07, 1380.05, 1380.07, 1410.08
Alaska, 470.09, 760.06, 1120.06, 1320.09
appointors, 1340.03, 1450.05, E20.03
Belize, 1110.04, 1110.09, 1290.06, 1330.01, 1510.02, 1540.05, 1560.05
Cook Islands, 1110.03, 1330.05, 1520.07, 1560.05
deadlock, 1360.02, 1460.05, 1460.06, 1490.01
Delaware section 3313, 450.04, 710.08, 1120.05
directed trustees, 450.04, 760.03, 1530.05
domestic and foreign trust classification, 1580.01, 1580.03, 1580.05
duress clauses, 330.06, 1290.04, 1290.06, 1480.03, 1480.04, 1480.05, 1520.07, 1550.02, 1560.01, 1560.02, 1560.03, 1560.04, 1560.06, 3750.07
enforcers, 570.05, 1170.01, 1170.02, 1170.03, 1170.04, 1170.05, 1170.06, 1170.07
events of duress, 1290.04
fiduciary powers, 1310.04, 1310.06
fiduciary status of protectors, 1340.05, 1350.01, 1350.02, 1350.03, 1350.04, 1350.05, 1350.06, 1350.07, 1350.08, 1440.06
inadvertent migration, 1580.05
liability of trust directors, 1050.01, 1050.02, 1050.03, 1050.04, 1050.05, 1050.06, 1050.07, 1050.08
McLean v. Ponder decision, 1220.06, 1340.05
Minassian v. Rachins decision, 1270.03, 1340.06
Nevis, 1110.06, 1210.04, 1450.03, 1550.02, 1560.02
offshore protectors, 1501.02, 1570.01, 1570.02, 1570.03, 1570.04
power of direction, 330.03, 330.06, 640.06
protector committees, 1460.01, 1460.02, 1460.03, 1460.04, 1460.05, 1460.06
protector powers, 730.08, 740.06, 750.03, 1140.04, 1570.02, 1580.02
removal of trustees by the court, 1440.01, 1440.02, 1440.06
South Dakota, 640.06, 1120.03, 1150.07, 1320.06
substantial decisions, 1580.02, 1580.03
trust directors, 1050.01, 1050.02, 1050.04, 1050.05, 1050.06, 1050.07, 1050.08, 1170.05, 1210.05, A10.01
Uniform Directed Trust Act, 1140.04, 1140.06, 1210.05, A10.01
Trustee acceptance, C01.03
acceptance of trusteeship as consent, 270.04
trust directors, A10.01, B40.04
trustee bonds, B40.04
Trustee bonds, 4450.02, 4450.04
bonds and insurance, 2890.03
designated relatives, 2830.08
duty of impartiality, 2140.03
private trust companies, 2830.08
trust directors, B40.04
Trustee compensation, 860.04, 860.05, 1380.01, 1380.02, 1950.02, 4410, 4460, 4460.03, 4490, 4490.03
adverse parties, 1380.05, 1380.07
agreements and waivers, 4460.06
appointment and acceptance, 860.02
beneficiary-designated advisers, 860.03
compensation fixed by the instrument, 4460.05
compensation for dual roles, 3030.08
compensation, indemnity and insurance, 1390.07
conflicts with the trust, 1380.04
creditor consequences, 1380.06
decanting, C40.02
default rule, 4460.01
duty of loyalty, 2140.04
enforcers, 2770.08
fees and expenses, 4460.04
personnel and compensation, 2840.06
qualified beneficiaries, 4460.09
Wyoming, 4460.08
Trustee meetings, 3040.01
distribution committees, 2840.09
family councils, 2930.04, 2930.05, 2990.02
Trustee resignation, 860.04, 860.05, 3560.07, 4420, 4470, 4470.01, 4470.02, 4490
appointment and acceptance, 860.02
beneficiary-designated advisers, 860.03
directed trustees, 1040.08
final reports, limitation and releases, 4470.05
former trustee's duties, 4470.04
Illinois, 2560.07
incapacity, 1420.01, 1420.02, 1420.03, 1420.04, 1420.05, 1420.06
nonjudicial route, 4470.03
office of adviser, 860.01
resignation and vacancy, 860.06
resignation, removal and appointment, 1950.04
silent trusts, 2560.07
successor trustees, 4490.04
Wyoming, 3740.07
Wyoming qualified spendthrift trusts, 3740.07
Trustee succession plans, 1180.01
Trust-owned entities, 3320
S corporation stock, 3020.05
underlying companies, 3020.05
wrappers, 3320.01, 3320.02, 3320.03, 3320.04, 3320.05, 3320.06
See also Anti-Bartlett clauses
Trusts (Jersey) Law 1984
anti-Bartlett clauses, 3060.02, 3060.03
enforcers, 1170.04, 2770.03, 2770.04, 2770.06, 2770.07
firewall statutes, 3980.02, 4570.04
Jersey, 1110.07, 1330.04, 1440.02, 2180.02, 2180.03, 2180.05, 2580.03, 2760.03, 3060.03, 3160.03, 3980.02
U
UDTA. See Uniform Directed Trust Act
Unbundling the trustee, 150.05
allocation of fiduciary functions, 150.06
directed trust, 150.03
directed trustee's duties, 150.04
pressures toward division, 150.02
unified office, 150.01
Uniform Directed Trust Act, 150.04
Underlying companies, 3010.08, 3090.03, 3201.05
anti-Bartlett clauses, 3060.01, 3060.02, 3060.03, 3060.04, 3060.05, 3060.06, 3060.07
irreducible core, 3060.04
Jersey, 3060.03
S corporation stock, 3020.05
Undistributed net income
accumulation distributions, 4360.03
distributable net income, 4360.01, 4360.02, 4360.05, 4360.07
domestic and foreign trust classification, 4360.02
family bank, 4360.06
interest charge on accumulations, 4360.04
throwback rules, 4360.01, 4360.03, 4360.04, 4360.05, 4360.07, 4390.04
trust migration, 4390.04, 4390.07
use of trust property, 4360.06
Uniform Conflict of Laws in Trusts and Estates Act, 201.06
conflict of laws, 201.04, 240.01, 240.02, 240.03, 240.04, 240.05, 240.06, 240.07
Uniform Directed Trust Act, 610.08, 1140, 1140.02, 1140.03, 1140.06
§ 8, 1320.03
2018 amendments, 1010.05
directed trustee's duties, 150.04
excluded fiduciaries, 3140.06
protector powers, 1140.04
trust directors, 1140.01, 1210.05, A10.01
trustee's protection under the act, 1140.05
unbundling the trustee, 150.04
Uniform Principal and Income Act, 410.02
Uniform Prudent Investor Act
concentrated positions, 130.05
duty of prudence, 910.05
duty to diversify, 820.05
excluded cotrustees, 3130.02
investment committees, 820.04, 820.05
managerial trust, 130.04, 130.05
mandatory rules, 920.05
prudent investor rule, 130.04, 820.04, 910.02, 910.04, 910.05, 910.06, 920.01, 920.02, 920.03, 920.04, 920.05, 920.06, 3130.02, 3410.01, 3550.01
Rhode Island, 920.06
Shriners decision, 910.06
Uniform Statutory Rule Against Perpetuities, 410.02, A01.02
no-rule list, A30.01
reformation, 2220.01, 2220.03, 2220.04, 2220.05, 2220.06
rule against perpetuities, 160.01, 2220.02, A30.01
wait-and-see, 2220.01, 2220.02, 2220.03, 2220.04, 2220.05, 2220.06
Uniform Trust Code, 140.02, 220.02, 220.03, 220.04, 220.06, 560.02, 570.02, 970.05, 1010.03, 1130.01, 1130.02, 1630.02, 1910.01, 1910.05, 1910.06, 1910.07, 2020.05, 2520, 2520.05, 2520.07, 2520.08, 2630.02, 2630.06, 2630.08, 2740.02, 3650.05
§ 808 as promulgated, 610.04
§ 808(d), 1320.01
California, 410.03
combination and division of trusts, 2110.01
continuing duty, 220.05, 2020.02
directed trustees, 660.09
equitable deviation, 1640.02
Florida, 1130.06
Kentucky, 220.08
laches, 1070.02
letters of wishes, 390.02
mandatory rules, 410.06, A40.01
Missouri, 1130.06
Nevada, 220.08
non-UTC jurisdictions, 140.04
Ohio, 2020.07
prudent investor rule, 920.01, 920.02, 920.03, 920.04, 920.05, 920.06
qualified beneficiaries, 2020.04, 2520.02, 2630.04
removal of trustees by the court, 1440.04
Restatement rule, 1010.01
Rollins decisions, 3030.06
silent trusts, A40.01
trust directors, A10.01
Uniform Directed Trust Act, 1010.05, A10.01
Uniform Prudent Investor Act, 920.01, 920.02, 920.03, 920.04, 920.05, 920.06
Wyoming, 1120.08
Uniform Trust Code section 1008
exculpation clauses, 480.05, 510.07, 540.01, 540.02, 540.03, 540.07, 540.08, 540.10, 590.04, 880.02, 1060.01, 1060.02, 1370.02, 4630.10
gross negligence, 450.03, 490.01, 540.02, 540.08, 650.04, 1020.06
mandatory rules, 420.03, 510.07
trust directors, 650.04
Uniform Trust Code section 105
mandatory rules, 310.02, 410.06, 420.04, 510.08, 4510.02, A40.01
silent trusts, A40.01
Uniform Trust Code section 411, 1620.04, 1670.01
2004 amendment and its alternatives, 1620.03
Claflin doctrine, 1610.02, 1610.04, 1610.05
consent of the settlor, 310.06
distribution on termination, 1620.07
material purpose doctrine, 310.05, 430.05, 1610.02, 1610.05, 1620.05, 1930.02, 1930.06, 4660.02
minor and unborn beneficiaries, 1630.04
spendthrift provisions, 120.05, 1610.04, 1930.02
structure of section 411, 1620.01
Wyoming, 1670.06
Wyoming Uniform Trust Code, 1670.06
Uniform Trust Code section 813, 670.08, 2520.05, 2520.08, 2550.03, 4670.07
duty to inform at common law, 390.03, 430.06, 2510.03, 2510.05, 2510.06
mandatory rules, 420.01, 420.05, 420.07, A40.01
settlor's standing, 360.02, 360.04
silent trusts, 170.04, 2560.04
specific duties, 2520.03
Uniform Trust Decanting Act
Alaska, 1790.04
authorized fiduciaries, 1730.03
decanting, 1730.01, 1730.03, 1730.04, 1730.05, 1730.06, 1730.07, 1730.08, 1730.09, 1730.10, 1790.04, E30.03, E30.04
distribution advisers, E30.04
United Kingdom, 120.01, 970.08, 3680.01
Armitage v. Nurse decision, 520.06, 520.07
irreducible core, 520.07
protective trusts, 3680.01
rescission for mistake, 2180.01, 2180.05
spendthrift provisions, 3680.01
Trustee Act 2000, 970.02
United States beneficiaries, 4340.01, 4340.02, 4340.05, 4370.03, 4370.08
distributable net income, 4360.02, 4360.05
domestic and foreign trust classification, 4301.02, 4301.05, 4360.02, 4370.03, 4380.04
United States persons, 4370.01
automatic migration provisions, 4330.06, 4330.07
control test, 4320.01, 4320.05, 4320.06, 4320.08, 4330.06
domestic and foreign trust classification, 1250.06, 1580.01, 2080.03, 2870.07, 4301.02, 4301.05, 4310.01, 4320.01, 4320.06, 4320.08, 4340.06, 4380.04, 4390.06
Foreign Account Tax Compliance Act, 4380.01, 4380.04
investment advisers, 4320.05
letters of wishes, 4340.04
SEC v. Brennan decision, 1250.06
throwback rules, 4301.02, 4301.05
Treasury Regulations section 301.7701-7, 1250.05, 2080.03
trust migration, 4390.06
United States beneficiaries, 4340.03
Unregulated trust companies, 2820.01, 2820.04, 2820.05, 2820.06
anti-money laundering, 2860.02, 2860.07
family offices, 2860.02, 2860.07
private trust companies, 2810.06, 2830.08, 4410.05
regulated company, 2820.03
unregulated company, 2820.02
Use of trust property, 3410.05, 4260.04, 4290.05
beneficiary as trustee, 3870.02, 3870.08
divorce and marital claims, 3890.04, 3890.05, 3920.05, 4640.08
environmental liability, 3370.01, 3390.02
family bank, 3870.02, 3870.07, 3870.08, 3950.05, 4360.06, 4640.04
leases and property management, 3360.05
mortgages and lenders, 3330.02, 3330.03, 3330.04
spendthrift provisions, 4640.04, 4640.08
third-party trusts, 3950.05
title insurance, 3330.02, 3330.03, 3330.04
undistributed net income, 4360.06
USRAP. See Uniform Statutory Rule Against Perpetuities
UTC. See Uniform Trust Code
UTDA. See Uniform Trust Decanting Act
V
Vacancy in trusteeship, 4470.01, 4470.02
appointors, 1450.05
enforcers, 2770.06
fiduciary powers, 1450.02
final reports, limitation and releases, 4470.05
former trustee's duties, 4470.04
lapse of powers, 1450.01, 1450.02, 1450.03, 1450.04, 1450.05
Nevis, 1450.03
nonjudicial route, 4470.03
resignation and vacancy, 860.06
succession and vacancy, 1590.03
Vault storage, 3430.01, 3430.02, 3430.03, 3430.04, 3430.05, 3430.06, 3430.07, 3430.08, 3430.09
court petitions and instructions, 3430.09
leveraged purchases, 3420.05
Vested interests, 2210.03
dead-hand control, 370.03, 370.05
decanting, 160.06, 1740.02, 1740.03, 1740.07, 1760.07, 1770.01, 1770.02, 1780.06, 1780.07, 1850.06, C30.01
divorce and marital claims, 3910.01, 3910.05, 3910.06, 3910.07
control test, 4320.02, 4320.03
domestic and foreign trust classification, 1580.03, 1580.05, 2080.03, 4320.03
duress clauses, 1290.06, 1540.06
investment advisers, 820.02, 4320.05
power of direction, 330.07, 620.02
Virginia
conflict of laws, 220.08
directed trustees, 1030.01
investment advisers, 1030.01
substantial relation test, 220.08
Virtual representation, 2610, 2620, 2630
equitable solution, 2610.02
laches, 1070.04
Mennen decisions, 1070.04
minor and unborn beneficiaries, 2610.04, 2610.05
problem equity faced, 2610.01
remainder beneficiaries, 2610.04
Restatement of property, 2610.03
VISTA trusts
British Virgin Islands, 2760.07, 3150.01, 3150.02, 3150.03, 3150.04, 3150.05, 3150.06, 3150.07, 3150.08, 3150.10
Cayman Islands, 3160.01, 3160.06
closely held businesses, 840.02, 4670.06
intervention calls, 3150.07
Saunders v. Vautier rule, 3150.09
Voidable transactions. See Fraudulent transfers
Voting and nonvoting interests
management rights and economic rights, 3230.02
Voting control, 870.04, 4020.10
adverse parties, 870.02, 2850.06, 4010.04, 4010.07, 4420.03
investment advisers, 870.04, 2840.04
related or subordinate parties, 2850.06, 4010.04, 4010.07, 4420.03
Voting trusts, 3230.03, 3230.05
management rights and economic rights, 3230.02
power of substitution, 4030.05, 4030.06
W
Wait-and-see, 2240.09, 2280.01
reformation, 2220.01, 2220.03, 2220.04, 2220.05, 2220.06
rule against perpetuities, 160.01, 2220.02, 2280.04
Uniform Statutory Rule Against Perpetuities, 2220.01, 2220.02, 2220.03, 2220.04, 2220.05, 2220.06, A30.01
Wallets and custody arrangements, 3560.03, 3560.07
Bitcoin and Ether, 3520.06, 3560.04
funding the trust, 3520.06
Willful misconduct, 670.04, 780.02, 880.05, 940.07
bad faith, 1020.06
Delaware, 610.06, 710.09, 1370.03
Delaware section 3313, 450.04, 710.01, 710.04, 780.01, 1020.01
directed trustees, 450.04, 660.07, 940.02, 1030.01, 1040.03, 1040.07, 1060.01, 1530.05, B30.01, B30.02
directed trustee's duties, 660.02, 660.03, 901.03, 940.02, 1090.05
excluded cotrustees, 720.02, 3130.04, 3130.08
excluded fiduciaries, 720.02, 3130.08, 3140.06
exculpation clauses, 540.08, 540.10, 590.07, 880.02, 1060.01, 1060.05, 1370.03, 1370.07
gross negligence, 450.03, 470.02, 490.01, 540.08, 550.01, 550.08, 610.06, 650.04, 660.02, 660.03, 710.04, 740.04, 890.05, 1020.01, 1020.03, 1020.05, 1020.06, 1090.05, B30.01
investment advisers, 820.02, 1030.01
investment committees, 820.02, 820.05
Mennen decisions, 880.02, 1050.03
Nevada, 470.02, 740.04, 850.05
Wrappers, 3301.05, 3320.01, 4670.07
costs of the conveyance, 3320.05
insurance as the first defense, 3320.06
one parcel, one company, 3320.02
risk of series for land, 3320.04
series companies, 3320.03
Wyoming, 750.02, 1120.07, 1120.08, 1960.06, 2240.04, 2830.05, 3540.04, 3840.07, 4440.05, E10.03, E40.03
combination and division of trusts, 2110.06
declarations and recitals, 750.10
Delaware, E40.03
Delaware Family Trust Company Act, 2830.05
Delaware section 3313, 850.05
exclusive jurisdiction, 4570.05
forum selection clauses, 4570.05
mandatory rules, 510.09
multisignature arrangements, 3510.08
qualified beneficiaries, 2540.08, 4460.08
spendthrift provisions, 440.08, 3790.02
Texas Trust Code, 510.09
Uniform Commercial Code, 3510.08
Uniform Trust Code section 411, 1670.06
Uniform Trust Code section 813, 440.07
Wyoming qualified spendthrift trusts, 3740.07, 3790.02
Wyoming Uniform Trust Code, 440.07, 440.08, 750.10, 850.05, 1120.07, 1120.08, 1320.07, 1670.06, 2050.05, 2090.08, 2110.06, 2540.08, 2750.04, 3140.04, 3740.07, 3840.07, 4440.05, 4460.08
Wyoming qualified spendthrift trusts
notice to beneficiaries, 3740.05
qualified trustees, 3740.03
self-settled trusts, 3790.01, 3790.02, 3790.03, 3790.04, 3790.05
situs trustees, 3740.03
spendthrift provisions, 3740.01, 3740.02, 3740.04, 3740.05, 3740.06, 3790.01, 3790.02, 3790.03, 3790.04, 3790.05
Wyoming, 3740.07
Wyoming Uniform Trust Code, 3740.02, 3740.04, 3740.06, 3740.07
Wyoming Uniform Trust Code, 750.02, 850.06, 1960.06
advisor powers, 750.04
combination and division of trusts, 2110.06
Delaware section 3313, 780.01, 1020.01
directed-trust section, 750.07
excluded fiduciaries, 750.06, 3140.06
fiduciary status, 750.05
Florida, 3840.09
gross negligence, 490.01, 780.01, 1020.01
investment advisers, 750.09
Nevada, 850.05, 1120.07, 3840.09
New York, 4460.09
nonfiduciary distribution powers, 750.08
place in the code, 750.01
protector powers, 750.03
qualified beneficiaries, 4460.08, 4460.09
situs trustees, 2050.07, 3740.03, 4440.05
South Dakota, 1150.07, 1230.02
special holdings, E10.03
special-holdings advisers, E10.03
spendthrift provisions, 440.08, 3740.01, 3740.02, 3740.04, 3740.06, 3790.02
table of forms, E01.05
trust directors, A10.01, B20.03
Uniform Directed Trust Act, 3140.06, A10.01
Uniform Trust Code section 411, 1670.06
Wyoming, 440.07, 440.08, 750.10, 850.05, 1120.08, 1320.07, 1670.06, 2050.05, 2090.08, 2110.06, 2540.08, 2750.04, 3140.04, 3740.07, 3840.07, 4440.05, 4460.08
Wyoming qualified spendthrift trusts, 3740.01, 3740.02, 3740.04, 3740.05, 3740.06, 3740.07, 3790.02, 3790.03