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United States trust law is the body of law that regulates the legal instrument for holding wealth known as a trust.. Most of the law regulating the creation and administration of trusts in the United States is now statutory at the state level.
The increased use of trusts in estate planning during the latter half of the 20th century highlighted inconsistencies in how trust law was governed across the United States. In 1993, recognizing the need for a more uniform approach, the Uniform Law Commission (ULC) appointed a study committee chaired by Justice Maurice Hartnett of the Delaware ...
While trusts originated in England, and therefore English trusts law has had a significant influence, particularly among common law legal systems such as those of the Commonwealth or the United States, the impact of trust law has been wide and varied. Even under common law systems, the basic notion of a trust has been implemented in strikingly ...
The law of trusts was constructed as a part of "Equity", a body of principles that arose in the Courts of Chancery, which sought to correct the strictness of the common law. The trust was an addition to the law of property, in the situation where one person held legal title to property but the courts decided it was fair just or "equitable" that ...
Swift & Co. v. United States, 196 U.S. 375 (1905) the antitrust laws entitled the federal government to regulate monopolies that had a direct impact on commerce; Standard Oil Co. of New Jersey v. United States, 221 U.S. 1 (1911) Standard Oil was dismantled into geographical entities given its size, and that it was too much of a monopoly
No system of laws can be devised by Congress alone which would effectually protect the people of the United States against the evils and oppression of trusts and monopolies. Congress has no authority to deal, generally, with the subject within the States, and the States have no authority to legislate in respect of commerce between the several ...
Drafting of the Uniform Probate Code began in 1964. The final version of the original UPC was promulgated in 1969 as a joint project between NCCUSL and the Real Property, Probate and Trust Law Section of the American Bar Association.
Harvard College v. Amory 26 Mass (9 Pick) 446 (1830) [1] is a US trusts law case, which repeated the famous formulation of the "prudent man rule", that people in charge of other people's money must exercise due care and skill, and look after the money as if it were their own.
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