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The final text of the Uniform Trust Code (UTC) was approved by the ULC commissioners in August 2000. The American Bar Association's House of Delegates officially endorsed the UTC in February 2001. The following months saw the finalization of detailed interpretive comments in April 2001 and minor clean-up revisions in August 2001. [ 2 ]
A trust account's entire investment portfolio is considered when determining the prudence of an individual investment. Under the Prudent Investor Act standard, a fiduciary would not be held liable for individual investment losses, so long as the investment, at the time of acquisition, is consistent with the overall portfolio objectives of the ...
JH Langbein and RA Posner, ‘Social Investing and the Law of Trusts’ (1980-1981) 79 Michigan Law Review 72, 88; JH Langbein, ‘The Uniform Prudent Investor Act and the Future of Trust Investing’ [1996] 81 Iowa Law Review 641; JH Langbein ‘Questioning the Trust Law Duty of Loyalty’ (2005) 114 Yale Law Journal 929 - 990.
Since there is no standard certificate of trust form, each certificate of trust may be somewhat different. A trustor can draft his or her own certificate of trust. A do-it-yourself certificate of ...
First, the trust can only last as long as the lifetime of the animal (or the last surviving animal in a group) [102] or in the case of a cemetery trust, no more than 21 years. [103] Also, the trust's corpus can only be applied to the intended use of caring for the animal or the cemetery plot. [104]
In United States trust law, a SPA Trust is an irrevocable trust that includes a special power of appointment.Unlike general powers of appointment, a special power of appointment is limited to a certain class of persons or entities that may receive the benefit of the power (appointee) from the person in whom the power is vested (donee).
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