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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 ]
English trust law; Types of trust; Charitable trust; Constructive trust; Discretionary trust; Express trust; Purpose trust; Quistclose trust; Resulting trust; Secret trust
Federal tax law specifically allows for this vehicle. Here the grantor places an asset in the trust – one he expects will grow rapidly during the term of the trust. The document then requires the trustee to pay to the settlor a specific sum of money (the annuity) at certain intervals during the life of the trust.
The Restatements of the Law is one of the most respected and well-used sources of secondary authority, covering nearly every area of common law. While considered secondary authority (compare to primary authority), the authoritativeness of the Restatements of the Law is evidenced by their acceptance by courts throughout the United States.
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UK trust law permits ethical investment policies, to divest from assets beneficiaries object to or promote particular causes. [230] A trust deed may expressly allow it, or otherwise trustees must simply not make financially detrimental decisions and sufficiently diversify investments under the Trustee Act 2000 section 4(3). [231]
In trust law, a trust instrument (also sometimes called a deed of trust, where executed by way of deed) is an instrument in writing executed by a settlor used to constitute a trust. Trust instruments are generally only used in relation to an inter vivos trust ; testamentary trusts are usually created under a will .
It is common practice in legal documents to cite other publications by using standard abbreviations for the title of each source. Abbreviations may also be found for common words or legal phrases. Such citations and abbreviations are found in court decisions, statutes, regulations, journal articles, books, and other documents.
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