Lighthouse
Lighthouse on Modern Trust Design

Table of
Contents.

References are to paragraph (¶) numbers. Each chapter opens at its overview paragraph.

The Detailed Contents lists every section and subsection.

Part IFoundations

ChapterTitleBegins at
1The Modern Trust: From Passive Conduit to Governed Structure¶ 101
2Choice of Governing Law, Situs and Place of Administration¶ 201
3Settlor Intent and the Limits of Settlor Control¶ 301
4The Uniform Trust Code and the Leading Non-UTC Jurisdictions¶ 401
5Mandatory Rules and the Irreducible Core of Trusteeship¶ 501

Part IIDivided Fiduciary Structures

ChapterTitleBegins at
6Directed Trusts and the Uniform Directed Trust Act¶ 601
7The Directed-Trust Statutes: Delaware, South Dakota, Nevada, Wyoming, Alaska and Tennessee¶ 701
8Trust Advisers: Investment, Distribution and Special-Holdings Advisers¶ 801
9Delegation versus Direction¶ 901
10Liability of Directed Trustees and Directing Parties¶ 1001

Part IIITrust Protectors

ChapterTitleBegins at
11The Trust Protector: Origins and Statutory Recognition¶ 1101
12Protector Powers: Amendment, Removal, Veto and Situs¶ 1201
13Fiduciary or Not? The Duties of Protectors¶ 1301
14Protector Succession, Removal and Deadlock¶ 1401
15Protectors in International Trusts: Cook Islands, Nevis and Belize¶ 1501

Part IVChanging the Trust

ChapterTitleBegins at
16Modification and Termination: Judicial and Nonjudicial¶ 1601
17Decanting: The Uniform Trust Decanting Act and State Statutes¶ 1701
18Decanting: Tax Consequences¶ 1801
19Nonjudicial Settlement Agreements¶ 1901
20Trust Migration and Change of Situs¶ 2001
21Merger, Division and Reformation¶ 2101

Part VDuration and Beneficiary Design

ChapterTitleBegins at
22Perpetuities Repeal and the Dynasty Trust¶ 2201
23Generation-Skipping Transfer Tax Design in Long-Term Trusts¶ 2301
24Beneficiary Design: Classes, Incentives, Standards and Disinheritance¶ 2401

Part VIInformation, Representation and Control

ChapterTitleBegins at
25Silent Trusts and the Duty to Inform¶ 2501
26Designated Representatives and Virtual Representation¶ 2601
27Noncharitable Purpose Trusts¶ 2701
28Private Trust Companies¶ 2801
29Family Governance: Councils, Constitutions and the Family Office¶ 2901

Part VIIHolding Structures

ChapterTitleBegins at
30Trust-Owned Entities: LLCs, Partnerships and Underlying Companies¶ 3001
31Concentrated Positions and Special-Holdings Direction (Delaware §§ 3304, 3313 and 3313A, BVI VISTA and Analogues)¶ 3101
32Closely Held Business Succession in Trust¶ 3201
33Real Estate in Trust: Title, Entity Wrappers, Leasing, Environmental Exposure and Situs¶ 3301
34Physical Assets in Trust: Gold, Silver, Art and Collectibles (Custody, Vaulting, Insurance, Valuation and Provenance)¶ 3401
35Digital Assets in Trust¶ 3501

Part VIIISpendthrift and Protective Design

ChapterTitleBegins at
36Spendthrift Provisions and Exception Creditors¶ 3601
37Self-Settled Spendthrift Trusts and the Wyoming Qualified Spendthrift Trust¶ 3701
38Discretionary Interests and the Restatement (Third) Debate¶ 3801
39Divorce, Marital Claims and the Trust¶ 3901

Part IXTax Architecture

ChapterTitleBegins at
40Grantor-Trust Design and Toggle Powers¶ 4001
41Incomplete-Gift Nongrantor Trusts and the State Response¶ 4101
42Spousal Lifetime Access Trusts and Spousal Planning¶ 4201
43Domestic and Foreign Trust Classification and Cross-Border Trusts¶ 4301

Part XPractice

ChapterTitleBegins at
44Trustee Selection, Compensation, Resignation and Removal¶ 4401
45Trust Disputes: Arbitration, No-Contest and Forum Clauses¶ 4501
46Drafting the Modern Trust Instrument: A Clause Guide¶ 4601

Appendices and Tables

AppendixTitleBegins at
AFifty-State Comparison: Directed Trusts, Protectors, Decanting, Perpetuities, Silent Trusts¶ A01
BUniform Directed Trust Act, Annotated¶ B01
CUniform Trust Decanting Act, Annotated¶ C01
DModel Clauses¶ D01
EForms: Directed Trust Agreement, Protector Appointment, Decanting Instrument, Nonjudicial Settlement Agreement, Change of Situs¶ E01

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