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Restatement of the Law Third,

Trusts

This work provides a contemporary treatment of trust law, offering authoritative guidance to legislators, judges, and those who counsel trustees and beneficiaries or endeavor to draft instruments that accurately reflect the lawful intentions of donors. The work represents a complete revision of the  Restatement Second, which is no longer in print. Volumes 1 and 2 cover the nature, creation, and elements of trusts; interests and rights of beneficiaries; and trust modification and termination. Volume 3 deals with trustee powers and duties and incorporates an updated version of an earlier Prudent Investor volume. The fourth volume covers trust administration, particularly breaches of trust and the appropriate legal remedies.
 

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  • Official Text Vol. 1 Image
    Official Text Vol. 1
    433 pages, 2003, #1R3TRV1OT

    Volume 1 covers nature, characteristics, and types of trusts and creation of trusts.

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  • Official Text Vol. 2 Image
    Official Text Vol. 2
    690 pages, 2003, #1R3TRV2OT

    Volume 2 covers elements of trusts, the nature of beneficiaries ' rights and Interests, and the modification and termination of trusts.

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  • Official Text Vol. 3 Image
    Official Text Vol. 3
    474 pages, 2007, #1R3TRV3OT

    Volume 3 covers trustee powers and duties and includes an updated version of the Prudent Investor Rule volume published in 1992, superseding that volume.

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  • Official Text Vol. 4 Image
    Official Text Vol. 4
    200 pages, 2012, #1R3TRV4OT

    Volume 4 covers trust administration, especially breaches of trust, issues of liability, and appropriate legal remedies. Volume 4 also contains an entirely new approach to principal-and-income accounting.

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    • Appendix Volume 1 July 1986 through June 2013

      This volume contains all relevant citations to the original Restatement of the Law of Trusts, Trusts 2nd, and Trust 3d, that were reported from July 1986 through June 2013.

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      Reporting cases from July 2013 through June 2015 that cite Restatement of the Law Trusts (2 vols.), Restatement of the Law Second, Trusts 2d (2 vols.), and all cases through June 2015 that cite Restatement of the Law Third, Trusts (4 vols.).  CHECK THIS VERBIAGE ON 2016 POCKET PART COVER. 

      For subsequent citations, see also the Interim Case Citations to the Restatements and Principles of the Law pamphlets designated for use with the 2016 Pocket Parts and Supplements. 

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  •  
    Tentative Draft No. 6
    Tentative Draft No. 6
    74 pages, 2011, #1R3TRTD6

    Softbound  | 1R3TRTD6  | 2011  | 74 pages  | $25.00

    PART 6

    TRUST ADMINISTRATION

    CHAPTER 19
    TRUSTEE LIABILITY TO BENEFICIARIES

    § 99. Absence of Breach of Trust 3
    Comment: 3
    a. Scope of Section; cross-references 3
    b. No liability for loss, depreciation, or low return 4
    c. Accountability for profit 4
    Reporter’s Notes 5

    § 100. Liability of Trustee for Breach of Trust 5
    General Comment: 5
    a. Introduction; cross-references 5
    a(1). Beneficiaries’ right to affirm or refrain
    from taking action 6
    a(2). Form of recovery from trustee 7
    a(3). Additional cross-references 7
    Comment on Liability of Trustee Under Clause (a): 8
    b. Measure of trustee liability 8
    b(1). Determining amount of loss 8
    b(2). Attorney fees and other costs 10
    Comment on Liability of Trustee Under Clause (b): 10
    c. Liability to prevent personal profit by trustee 10
    Additional General Comment: 11
    d. Punitive damages 11
    e. Loss: causation requirement 12
    f. Burden of proof 13
    Reporter’s Notes 14

    § 101. Offsetting Profit Against Loss 19
    Comment: 19
    a. Scope, effect, and rationale of Section 19
    b. Meaning of “loss” and “profit” from breach 20
    c. Determining whether multiple acts of misconduct
    should be considered to constitute a single
    breach 20
    Reporter’s Notes 23

    § 102. Liability of Multiple Trustees: Contribution 24
    General Comment: 24
    a. Scope of Section; cross-references 24
    Comment on Subsection (1): 25
    b. Amount and manner of contribution 25
    b(1). Substantially equally at fault 25
    b(2). Fault so disproportionate as to prevent
    contribution 25
    b(3). Fault neither substantially equal nor so
    disproportionate as to prevent contribution 26
    c. Insolvency 26
    Comment on Subsection (2): 27
    d. Trustee acting in bad faith 27
    Comment on Subsection (3): 27
    e. Benefit received by trustee 27
    Reporter’s Notes 28

    CHAPTER 20
    BENEFICIARY LIABILITY

    Introductory Note 31

    § 103. Liability of Beneficiary to Third Party for Trust
    Obligation 31
    Comment: 31
    a. Scope of Section 31
    b. General rule 31
    c. Exceptions 32 
    c(1). Beneficiary liable to trust 32
    c(2). Beneficiary liable to third party under other law 32
    Reporter’s Notes 32

    § 104. Liability of Beneficiary to Trust 33
    General Comment: 33
    a. Scope of Section 33
    Comment on Subsection (1): 34
    b. General rule 34
    c. Exceptions 34
    d. Loan or advance of trust property (Clause (a)) 34
    e. Beneficiary’s debt to settlor (Clause (b)) 34
    f. Loss resulting from breach of trust in which
    beneficiary participated (Clause (c)) 34
    g. Liability to trust under other law (Clause (d)) 35
    g(1). Contract 35
    g(2). Tort 35
    g(3). Unjust enrichment 35
    Comment on Subsection (2): 36
    h. Charge on beneficiary’s interest 36
    Reporter’s Notes 36

    CHAPTER 21
    LIABILITY OF TRUST OR TRUSTEE TO THIRD PARTY

    Introductory Note 37
    Reporter’s Notes 38

    § 105. Claim Against Trust 38
    Comment: 39
    a. Scope of Section; cross-references 39
    b. Background; general rule 39
    c. Suit against trustee in representative capacity 39
    Reporter’s Notes 40

    § 106. Personal Liability of Trustee; Limitations 41
    Comment: 41
    a. Scope of Section; cross-references 41
    b. Limitation on personal liability of trustee 41
    b(1). Contract 42
    b(2). Tort 42
    b(3). Obligation arising from ownership or control of trust property 42
    Reporter’s Notes 43

    CHAPTER 22
    THIRD-PARTY LIABILITY TO TRUST

    Introductory Note 45

    § 107. Proceeding Against a Third Party 45
    General Comment: 45
    a. Scope of Section 45
    Comment on Subsection (1): 46
    b. General rule 46
    b(1). Wrongdoing trustee: no estoppel 46
    Comment on Subsection (2): 46
    c. Beneficiary standing 46
    c(1). Possession of or right to trust property 46
    c(2). Derivative action: trustee unavailable, etc. 47
    Comment on Subsection (3): 47
    d. Trustee ad litem 47
    Additional General Comment: 48
    e. Entitlement to recovery 48
    f. Options for recovery where more than one potential
    defendant 48
    Reporter’s Notes 48

    § 108. Limitation on Third-Party Liability 49
    General Comment: 49
    a. Scope of Section; cross-references 49
    Comment on Subsection (1): 49
    b. Assisting trustee who is committing breach of trust 49
    Comment on Subsection (2): 50
    c. Bona fide purchase 50
    Comment on Subsection (3): 51
    d. No duty to inquire into trustee powers or application
    of assets 51
    Reporter’s Notes 51

    Appendix. Black Letter of Tentative Draft No. 6 53

    This Draft was approved by the membership at the 2011 Annual Meeting, subject to the discussion at the Meeting and to editorial prerogative. 

    Much of the material in this draft largely restates the essence of Trusts Second principles, with the expected updating and clarification, extending and adapting these principles to evolving circumstances and practices in the trust field, as well as to doctrinal changes already approved elsewhere in this Restatement. Minor modifications of substance or coverage are indicated in the Introductory Notes to the various Chapters or in the commentary or Reporter’s Notes.

    74 pages, 2011, #1R3TRTD6E

    Softbound  | 1R3TRTD6  | 2011  | 74 pages  | $25.00

    PART 6

    TRUST ADMINISTRATION

    CHAPTER 19
    TRUSTEE LIABILITY TO BENEFICIARIES

    § 99. Absence of Breach of Trust 3
    Comment: 3
    a. Scope of Section; cross-references 3
    b. No liability for loss, depreciation, or low return 4
    c. Accountability for profit 4
    Reporter’s Notes 5

    § 100. Liability of Trustee for Breach of Trust 5
    General Comment: 5
    a. Introduction; cross-references 5
    a(1). Beneficiaries’ right to affirm or refrain
    from taking action 6
    a(2). Form of recovery from trustee 7
    a(3). Additional cross-references 7
    Comment on Liability of Trustee Under Clause (a): 8
    b. Measure of trustee liability 8
    b(1). Determining amount of loss 8
    b(2). Attorney fees and other costs 10
    Comment on Liability of Trustee Under Clause (b): 10
    c. Liability to prevent personal profit by trustee 10
    Additional General Comment: 11
    d. Punitive damages 11
    e. Loss: causation requirement 12
    f. Burden of proof 13
    Reporter’s Notes 14

    § 101. Offsetting Profit Against Loss 19
    Comment: 19
    a. Scope, effect, and rationale of Section 19
    b. Meaning of “loss” and “profit” from breach 20
    c. Determining whether multiple acts of misconduct
    should be considered to constitute a single
    breach 20
    Reporter’s Notes 23

    § 102. Liability of Multiple Trustees: Contribution 24
    General Comment: 24
    a. Scope of Section; cross-references 24
    Comment on Subsection (1): 25
    b. Amount and manner of contribution 25
    b(1). Substantially equally at fault 25
    b(2). Fault so disproportionate as to prevent
    contribution 25
    b(3). Fault neither substantially equal nor so
    disproportionate as to prevent contribution 26
    c. Insolvency 26
    Comment on Subsection (2): 27
    d. Trustee acting in bad faith 27
    Comment on Subsection (3): 27
    e. Benefit received by trustee 27
    Reporter’s Notes 28

    CHAPTER 20
    BENEFICIARY LIABILITY

    Introductory Note 31

    § 103. Liability of Beneficiary to Third Party for Trust
    Obligation 31
    Comment: 31
    a. Scope of Section 31
    b. General rule 31
    c. Exceptions 32 
    c(1). Beneficiary liable to trust 32
    c(2). Beneficiary liable to third party under other law 32
    Reporter’s Notes 32

    § 104. Liability of Beneficiary to Trust 33
    General Comment: 33
    a. Scope of Section 33
    Comment on Subsection (1): 34
    b. General rule 34
    c. Exceptions 34
    d. Loan or advance of trust property (Clause (a)) 34
    e. Beneficiary’s debt to settlor (Clause (b)) 34
    f. Loss resulting from breach of trust in which
    beneficiary participated (Clause (c)) 34
    g. Liability to trust under other law (Clause (d)) 35
    g(1). Contract 35
    g(2). Tort 35
    g(3). Unjust enrichment 35
    Comment on Subsection (2): 36
    h. Charge on beneficiary’s interest 36
    Reporter’s Notes 36

    CHAPTER 21
    LIABILITY OF TRUST OR TRUSTEE TO THIRD PARTY

    Introductory Note 37
    Reporter’s Notes 38

    § 105. Claim Against Trust 38
    Comment: 39
    a. Scope of Section; cross-references 39
    b. Background; general rule 39
    c. Suit against trustee in representative capacity 39
    Reporter’s Notes 40

    § 106. Personal Liability of Trustee; Limitations 41
    Comment: 41
    a. Scope of Section; cross-references 41
    b. Limitation on personal liability of trustee 41
    b(1). Contract 42
    b(2). Tort 42
    b(3). Obligation arising from ownership or control of trust property 42
    Reporter’s Notes 43

    CHAPTER 22
    THIRD-PARTY LIABILITY TO TRUST

    Introductory Note 45

    § 107. Proceeding Against a Third Party 45
    General Comment: 45
    a. Scope of Section 45
    Comment on Subsection (1): 46
    b. General rule 46
    b(1). Wrongdoing trustee: no estoppel 46
    Comment on Subsection (2): 46
    c. Beneficiary standing 46
    c(1). Possession of or right to trust property 46
    c(2). Derivative action: trustee unavailable, etc. 47
    Comment on Subsection (3): 47
    d. Trustee ad litem 47
    Additional General Comment: 48
    e. Entitlement to recovery 48
    f. Options for recovery where more than one potential
    defendant 48
    Reporter’s Notes 48

    § 108. Limitation on Third-Party Liability 49
    General Comment: 49
    a. Scope of Section; cross-references 49
    Comment on Subsection (1): 49
    b. Assisting trustee who is committing breach of trust 49
    Comment on Subsection (2): 50
    c. Bona fide purchase 50
    Comment on Subsection (3): 51
    d. No duty to inquire into trustee powers or application
    of assets 51
    Reporter’s Notes 51

    Appendix. Black Letter of Tentative Draft No. 6 53

    This Draft was approved by the membership at the 2011 Annual Meeting, subject to the discussion at the Meeting and to editorial prerogative. 

    Much of the material in this draft largely restates the essence of Trusts Second principles, with the expected updating and clarification, extending and adapting these principles to evolving circumstances and practices in the trust field, as well as to doctrinal changes already approved elsewhere in this Restatement. Minor modifications of substance or coverage are indicated in the Introductory Notes to the various Chapters or in the commentary or Reporter’s Notes.

     
  •  
    Tentative Draft No. 5
    Tentative Draft No. 4
    140 pages, 2009, #1R3TRTD5

    Softbound  | 1R3TRTD5  | 2009  | 140 pages  | $25.00

    PART 6

    TRUST ADMINISTRATION

    CHAPTER 18
    REMEDYING BREACH OF TRUST: GENERAL PRINCIPLES

    Introductory Note 1

    § 93. What Is a Breach of Trust? 2
    Comment:
    a. Scope of Section; cross-references 2
    b. Definition 2
    c. Effect of professional advice 3
    d. Additional cross-references 4
    Reporter’s Notes 4

    § 94. Standing to Enforce a Trust 5
    General Comment:
    a. Introduction 6
    a(1). Scope of Section 6
    Comment on Subsection (1):
    b. “Beneficiaries” 7
    c. Co-trustees or successor trustees 7
    d. Others acting on behalf of beneficiaries 8
    d(1). Fiduciary power reserved or granted by settlor 9
    d(2). Settlor, as such, lacks standing 9
    Comment on Subsection (2):
    e. Attorney General 10
    f. Co-trustee or successor trustee 10
    g. Person having a special interest 11
    g(1). Special interest in charitable benefits 12
    g(2). Private beneficial interests; and powers reserved or granted by settlor 13
    g(3). Standing of settlor, as such 14
    Reporter’s Notes 15

    § 95. Nature of Beneficiaries’ Remedies 24
    Comment:
    a. General principles; scope of Section 24
    b. Surcharge liability for breach of trust 25
    c. Other remedies 25
    d. Equitable power to excuse trustee from liability 26
    Reporter’s Notes 27

    § 96. Exculpatory and No-Contest Clauses 29
    General Comment:
    a. Scope and cross-references 30
    Comment on Subsection (1):
    b. Construction of exculpatory provisions 31
    c. Effect limited by public policy 31
    d. Clause improperly included in terms of trust 32
    Comment on Subsection (2):
    e. Undermining enforcement or proper administration of trust 33
    Reporter’s Notes 35

    § 97. Effect of Beneficiary Consent, Ratification, or Release 39
    Comment:
    a. Scope of Section: Cross-references 40
    b. Overview: Consent, ratification, and release 40
    c. Effects of beneficiary’s consent, ratification, or release 43
    c(1). Non-consenting beneficiaries generally unaffected 44
    c(2). Act by holder of ownership-equivalent power 45
    c(3). Effect on subsequent administration 46
    Comment on Clauses (a)-(c):
    d. Required capacity or representation of beneficiary 47
    e. Requirement of fully informed consent, ratification, or release 47
    f. Improper conduct of trustee 48
    Reporter’s Notes 49

    § 98. Laches and Statutes of Limitations 52
    Comment:
    a. Scope of Section 52
    a(1). Effect of bar 53
    b. Laches 53
    b(1). Excuses for delay 54
    b(2). Delay prejudicial to trustee 54
    c. Statutes of limitations 55
    Reporter’s Notes 56


    CHAPTER 23
    ACCOUNTING FOR PRINCIPAL AND INCOME

    Introductory Note 61
    Reporter’s Note 63

    § 111. Duty to Account for Principal and Income 67
    Comment:
    a. Scope and cross-references 67
    b. Trusts affected by “income” entitlements 68
    Reporter’s Notes 71

    § 112. Determining Principal and Income 75
    Comment:
    a. In general 75
    a(1). Terms of trust or statute unclear 76
    b. Specific direction in terms of trust 77
    c. Discretion granted by terms of trust 77
    c(1). Discretion granted for specific accounting matters 78
    c(2). Discretion granted for accounting matters generally 79
    c(3). Discretion must not be abused 81
    d. Relationship to § 113 81
    Reporter’s Notes 82

    § 113. Duty to Distribute to Income Beneficiaries Amounts Appropriate to Duty of Impartiality 86
    Comment:
    a. Rationale and cautionary note 87
    b. Power to adjust 88
    b(1). Statutory adjustment power; duty to exercise 88
    b(2). Equitable adjustment 89
    c. Unitrust conversion 89
    d. Determining and effectuating suitable level of productivity 90
    e. Resolving uncertainty; abuse of discretion; cross-references 95
    Reporter’s Notes 96

    This Draft was approved by the membership at the 2009 Annual Meeting, subject to the discussion at the Meeting and to editorial prerogative. 

    This draft is comprised of: Part 6. Trust Administration: Chapter 18. Remedying Breach of Trust: General Principles and Chapter 23. Accounting for Principal and Income.

    380 pages, 2005, #1R3TRTD4E

    Softbound  | 1R3TRTD5  | 2009  | 140 pages  | $25.00

    PART 6

    TRUST ADMINISTRATION

    CHAPTER 18
    REMEDYING BREACH OF TRUST: GENERAL PRINCIPLES

    Introductory Note 1

    § 93. What Is a Breach of Trust? 2
    Comment:
    a. Scope of Section; cross-references 2
    b. Definition 2
    c. Effect of professional advice 3
    d. Additional cross-references 4
    Reporter’s Notes 4

    § 94. Standing to Enforce a Trust 5
    General Comment:
    a. Introduction 6
    a(1). Scope of Section 6
    Comment on Subsection (1):
    b. “Beneficiaries” 7
    c. Co-trustees or successor trustees 7
    d. Others acting on behalf of beneficiaries 8
    d(1). Fiduciary power reserved or granted by settlor 9
    d(2). Settlor, as such, lacks standing 9
    Comment on Subsection (2):
    e. Attorney General 10
    f. Co-trustee or successor trustee 10
    g. Person having a special interest 11
    g(1). Special interest in charitable benefits 12
    g(2). Private beneficial interests; and powers reserved or granted by settlor 13
    g(3). Standing of settlor, as such 14
    Reporter’s Notes 15

    § 95. Nature of Beneficiaries’ Remedies 24
    Comment:
    a. General principles; scope of Section 24
    b. Surcharge liability for breach of trust 25
    c. Other remedies 25
    d. Equitable power to excuse trustee from liability 26
    Reporter’s Notes 27

    § 96. Exculpatory and No-Contest Clauses 29
    General Comment:
    a. Scope and cross-references 30
    Comment on Subsection (1):
    b. Construction of exculpatory provisions 31
    c. Effect limited by public policy 31
    d. Clause improperly included in terms of trust 32
    Comment on Subsection (2):
    e. Undermining enforcement or proper administration of trust 33
    Reporter’s Notes 35

    § 97. Effect of Beneficiary Consent, Ratification, or Release 39
    Comment:
    a. Scope of Section: Cross-references 40
    b. Overview: Consent, ratification, and release 40
    c. Effects of beneficiary’s consent, ratification, or release 43
    c(1). Non-consenting beneficiaries generally unaffected 44
    c(2). Act by holder of ownership-equivalent power 45
    c(3). Effect on subsequent administration 46
    Comment on Clauses (a)-(c):
    d. Required capacity or representation of beneficiary 47
    e. Requirement of fully informed consent, ratification, or release 47
    f. Improper conduct of trustee 48
    Reporter’s Notes 49

    § 98. Laches and Statutes of Limitations 52
    Comment:
    a. Scope of Section 52
    a(1). Effect of bar 53
    b. Laches 53
    b(1). Excuses for delay 54
    b(2). Delay prejudicial to trustee 54
    c. Statutes of limitations 55
    Reporter’s Notes 56


    CHAPTER 23
    ACCOUNTING FOR PRINCIPAL AND INCOME

    Introductory Note 61
    Reporter’s Note 63

    § 111. Duty to Account for Principal and Income 67
    Comment:
    a. Scope and cross-references 67
    b. Trusts affected by “income” entitlements 68
    Reporter’s Notes 71

    § 112. Determining Principal and Income 75
    Comment:
    a. In general 75
    a(1). Terms of trust or statute unclear 76
    b. Specific direction in terms of trust 77
    c. Discretion granted by terms of trust 77
    c(1). Discretion granted for specific accounting matters 78
    c(2). Discretion granted for accounting matters generally 79
    c(3). Discretion must not be abused 81
    d. Relationship to § 113 81
    Reporter’s Notes 82

    § 113. Duty to Distribute to Income Beneficiaries Amounts Appropriate to Duty of Impartiality 86
    Comment:
    a. Rationale and cautionary note 87
    b. Power to adjust 88
    b(1). Statutory adjustment power; duty to exercise 88
    b(2). Equitable adjustment 89
    c. Unitrust conversion 89
    d. Determining and effectuating suitable level of productivity 90
    e. Resolving uncertainty; abuse of discretion; cross-references 95
    Reporter’s Notes 96

    This Draft was approved by the membership at the 2005 Annual Meeting, subject to the discussion at the Meeting and to editorial prerogative. 

    Part 6. Trust Administration: Chapter 14. Trustee Powers and Duties: General Principles; Chapter 15. Specific Duties of Trusteeship; Chapter 16. Extent and Exercise of Trustees ' Powers

     
  •  
    Tentative Draft No. 4
    Tentative Draft No. 4
    380 pages, 2005, #1R3TRTD4

    Softbound  | 1R3TRTD4  | 2005  | 380 pages  | $35.00

    PART 6
    TRUST ADMINISTRATION

    CHAPTER 14
    TRUSTEE POWERS AND DUTIES: GENERAL PRINCIPLES

    § 70 Powers and Duties of Trustees
    § 71 Application to Court for Instructions
    § 72 Terms That Are Unlawful of Against Public Policy
    § 73 Impossibility or Impracticability
    § 74 Effect of Power of Revocation
    § 75 Effect of Power to Control Acts of Trustee

    CHAPTER 15
    SPECIFIC DUTIES OF TRUSTEESHIP

    § 76 Duty to Administer The Trust In Accordance With Its Terms And Applicable Law
    § 77 Duty Of Prudence
    § 78 Duty of Loyalty
    § 79 Duty of Impartiality: Income Productivity
    § 80 Duty with Respect to Delegation
    § 81 Duty with Respect to Co-Trustees
    § 82 Duty to Furnish Information to Beneficiaries
    § 83 Duty to Keep Records And Provide Reports
    § 84 Duty to Segregate And Identify Trust Property

    CHAPTER 16
    EXTENT AND EXERCISE OF TRUSTEES’ POWERS

    § 85 Extent of Trustees’ Powers
    § 86 Fiduciary Duties and Exercise of Powers
    § 87 Judicial Control of Discretionary Powers
    § 88 Power to Incur and Pay Expenses
    § 89 Powers and Duties on Termination

    This Draft was approved by the membership at the 2005 Annual Meeting, subject to the discussion at the Meeting and to editorial prerogative. 

    Part 6. Trust Administration: Chapter 14. Trustee Powers and Duties: General Principles; Chapter 15. Specific Duties of Trusteeship; Chapter 16. Extent and Exercise of Trustees ' Powers

    380 pages, 2005, #1R3TRTD4E

    Softbound  | 1R3TRTD4  | 2005  | 380 pages  | $35.00

    PART 6
    TRUST ADMINISTRATION

    CHAPTER 14
    TRUSTEE POWERS AND DUTIES: GENERAL PRINCIPLES

    § 70 Powers and Duties of Trustees
    § 71 Application to Court for Instructions
    § 72 Terms That Are Unlawful of Against Public Policy
    § 73 Impossibility or Impracticability
    § 74 Effect of Power of Revocation
    § 75 Effect of Power to Control Acts of Trustee

    CHAPTER 15
    SPECIFIC DUTIES OF TRUSTEESHIP

    § 76 Duty to Administer The Trust In Accordance With Its Terms And Applicable Law
    § 77 Duty Of Prudence
    § 78 Duty of Loyalty
    § 79 Duty of Impartiality: Income Productivity
    § 80 Duty with Respect to Delegation
    § 81 Duty with Respect to Co-Trustees
    § 82 Duty to Furnish Information to Beneficiaries
    § 83 Duty to Keep Records And Provide Reports
    § 84 Duty to Segregate And Identify Trust Property

    CHAPTER 16
    EXTENT AND EXERCISE OF TRUSTEES’ POWERS

    § 85 Extent of Trustees’ Powers
    § 86 Fiduciary Duties and Exercise of Powers
    § 87 Judicial Control of Discretionary Powers
    § 88 Power to Incur and Pay Expenses
    § 89 Powers and Duties on Termination

    This Draft was approved by the membership at the 2005 Annual Meeting, subject to the discussion at the Meeting and to editorial prerogative. 

    Part 6. Trust Administration: Chapter 14. Trustee Powers and Duties: General Principles; Chapter 15. Specific Duties of Trusteeship; Chapter 16. Extent and Exercise of Trustees ' Powers

     
  •  
    Tentative Draft No. 3
    219 pages, 2001, #1R3TRTD3

    Softbound  | 1R3TRTD3  | 2001  | 219 pages  | $25.00

    PART 2
    CREATION OF TRUSTS

    CHAPTER 4
    FORMALITIES: TRUSTS CREATED BY WILL

    § 19 “Pour-Over” Dispositions by Will

    PART 3
    ELEMENTS OF TRUSTS

    CHAPTER 6
    TRUST PURPOSES

    § 27 Purposes for Which a Trust Can Be Created
    § 28 Charitable Purposes
    § 29 Purposes and Provisions That Are Unlawful or Against Public Policy

    PART 5
    MODIFICTION AND TERMINATION OF TRUSTS

    CHAPTER 13
    MODIFICATION AND TERMINATION OF TRUSTS

    § 61 Completion of Period or Purpose for Which Trust Created
    § 62 Rescission and Reformation
    § 63 Power of Settlor to Revoke or Modify
    § 64 Termination or Modification by Trustee
    § 65 Termination or Modification by Consent of Beneficiaries
    § 66 Power of Court to Modify
    § 67 Failure of Designated Charitable Purpose: The Doctrine of Cy Pres
    § 68 Dividing and Combining Trusts
    § 69 Merger

    This Draft was approved by the membership at the 2001 Annual Meeting, subject to the discussion at the Meeting and to editorial prerogative. 

    Part 2. Creation of Trusts: Chapter 4. Formalities: Trusts Created by Will (revised § 19, Comment f); Part 3. Elements of Trusts: Chapter 6. Trust Purposes (new § 28 on “Charitable Purposes”); Part 5. Modification and Termination of Trusts

     
  •  
    Tentative Draft No. 2
    514 pages, 1999, #6134

    Softbound  | 6134  | 1999  | 514 pages  | $50.00

    PART 2
    CREATION OF TRUSTS

    CHAPTER 5
    FORMALITIES: CREATION OF INTER VIVOS TRUSTS

    § 26 Tentative (“Totten” or Bank Account) Trusts

    PART 3
    ELEMENTS OF TRUSTS

    CHAPTER 6
    TRUST PURPOSES

    § 27 Purposes for Which a Trust Can be Created
    § 28 General Rule Concerning Unlawful Purposes
    § 29 Perpetuities and Provisions Against Public Policy
    § 30 Impossibility and Indefiniteness

    CHAPTER 7
    THE TRUSTEE

    § 31 Trust That Does Not Fail for Lack of Trustee
    § 32 Capacity of Individual to be Trustee
    § 33 Corporations and Other Entities as Trustees
    § 34 Appointment of Trustees
    § 35 Acceptance or Renunciation of Trusteeship
    § 36 Resignation of Trustee
    § 37 Removal of Trustee
    § 38 Trustee’s Compensation and Indemnification
    § 39 Exercise of Powers by Multiple Trustees

    CHAPTER 8
    TRUST PROPERTY

    § 40 Any Property May be Trust Property
    § 41 Expectancies: Nonexistent Property Interests
    § 42 Extent of Trustees Title

    CHAPTER 9
    BENEFICIARIES

    § 43 Persons Who May be Beneficiaries
    § 44 Definite Beneficiary Requirement
    § 45 Members of a Definite Class as Beneficiaries
    § 46 Members of an Indefinite Class as Beneficiaries
    § 47 Trusts for Noncharitable Purposes
    § 48 Incidental Benefits

    CHAPTER 10
    EXTENT AND ENFORCEABILITY OF BENEFICIAL INTERESTS

    § 49 Extent of Beneficiaries’ Interests
    § 50 Enforcement and Construction of Discretionary Interests

    CHAPTER 11
    COLUNTARY AND INVOLUNTARY TRANSFERS OF BENEFICIAL INTERESTS: GENERAL PRINCIPLES

    § 51 Voluntary Transfers Inter Vitos
    § 52 Intention to Transfer
    § 53 Need for a Writing
    § 54 Effect of Successive Transfers
    § 55 Transfers at Death
    § 56 Rights of beneficiary’s Creditors

    CHAPTER 12
    SPENDTHRIFT TRUSTS AND OTHER RESTRAINTS ON VOLUNTARY AND INVOLUNTARY ALIENATION

    § 57 Forfeiture for Voluntary or Involuntary Alienation
    § 58 Spendthrift Trusts: Validity and General Effect
    § 59 Spendthrift Trusts: Exceptions for Particular Types of Claims
    § 60 Transfer or Attachment of Discretionary Interests

    This Draft was approved by the membership at the 1999 Annual Meeting, subject to the discussion at the Meeting and to editorial prerogative.

    Part 2. Creation of Trusts (revised § 26); Part 3. Elements of Trusts; Part 4. Nature of Beneficiaries’ Rights and Interests

     
  •  
    Tentative Draft No. 1
    574 pages, 1996, #5550

    Softbound  | 5550  | 1996  | 574 pages  | $50.00

    PART 1
    NATURE, CHARACTERISTICS, AND TYPES OF TRUSTS

    CHAPTER 1
    DEFINITIONS AND DISTINCTIONS

    § 1 Scope of This Restatement
    § 2 Definition of Trust
    § 3 Settlor, Trust Property, Trustee, and Beneficiary
    § 4 Terms of the Trust
    § 5 Trusts and Other Relationships
    § 6 Active and passive Trusts; the Statute of Uses

    CHAPTER 2
    RESULTING TRUSTS

    § 7 Nature and Definition of Resulting Trusts
    § 8 When Express Trust Fails in Whole or in Part
    § 9 Purchase Money Resulting Trusts

    PART 2
    CREATION OF TRUSTS

    CHAPTER 3
    BASIC PRINCIPLES AND REQUIREMENTS

    § 10 Methods of Creating a Trust
    § 11 Capacity of Settlor to Create a Trust
    § 12 Trust Creation induced by Undue Influence, Duress, Fraud or Mistake
    § 13 Intention to Create Trust
    § 14 Notice and Acceptance Not Required to Create Trust
    § 15 Consideration Not Required to Create Trust
    § 16 Ineffective Inter Vivos Transfers

    CHAPTER 4
    FORMALITIES: TRUSTS CREATED BY WILL

    § 17 Creation of Testamentary Trusts
    § 18 Secret Trusts
    § 19 “Pour-Over” Dispositions by Will

    CHAPTER 5
    FORMALITIES: CREATION OF INTER VIVOS TRUSTS

    § 20 Validity of Oral Inter Vivos Trusts
    § 21 The Parole Evidence Rule
    § 22 Writing Required by Statute of Frauds
    § 23 Signing Requirement: When and by Whom
    § 24 Result of Noncompliance with Statute of Frauds
    § 25 Validity and Effect of Revocable Inter Vivos Trust
    § 26 Tentative (Bank Account) Trusts

    This Draft was approved by the membership at the 1996 Annual Meeting, subject to the discussion at the Meeting and to editorial prerogative. 

    Part 1. Nature, Characteristics, and Types of Trusts: Chapter 1. Definitions and Distinctions; Chapter 2. Resulting Trusts; Part 2. Creation of Trusts: Chapter 3. Basic Principles and Requirements; Chapter 4. Formalities: Trusts Created by Will; Chapter 5. Formalities: Creation of Inter Vivos Trusts