In the 114 years since its first publication, Augustus Peabody Loring’s
compact A Trustee's Handbook has come to be regarded as the most
convenient, reliable, and complete source for trust research. This classic
reference distills the essence of trust law, illuminating the
fundamental principles and answering the basic questions:
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What are the duties of the trustee?
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What are the rights of the beneficiary?
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What are the rights of the settlor?
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What are the rights of third parties involved?
Loring and Rounds: A Trustee’s Handbook, 2013 Edition
carries on the tradition of concise, practical and up-to-date guidance for
trustees, giving you the latest in-depth information on how to stay on top of
the developments in this complex field of practice.
Loring and Rounds: A Trustee's Handbook is the gold standard and
indispensable “go-to” resource for anyone seeking a comprehensive explanation
of the vast tapestry of trust law. For over one hundred years it has been the
bible for professionals and non-professionals, lawyers and non-lawyers who
create, administer, and benefit from trusts.
Also available on IntelliConnect. Call 888-224-7377 for more
information
Chapter 1. Introduction
Chapter 2. The Property Requirement
§2.1 The Property Requirement §2.2 Funding Issues §2.3 Wrongful Defunding
Chapter 3. The Trustee's Office
§3.1 Who Can Be a Trustee? §3.2 Who Is Fit to Be a Trustee? §3.3 Involuntary
Trustees: Constructive Trusts, Purchase Money Resulting Trusts, Trustee
Succession, Deceased Trustees, Partnership Assets, Government Regulation of
Property Ownership and Other Such Matters §3.4 Avoiding, Assuming, and
Vacating the Office §3.5 Trustee's Relationship to the Trust Estate §3.6
External Inbound Liabilities of Third Parties to the Trustee and the
Beneficiaries
Chapter 4. Interests Remaining with the Settlor
§4.1 Interests and Powers Remaining with the Settlor by Operation of Law §4.2
Expressly Reserved Beneficial Interests and Powers
Chapter 5. The Beneficiary
§5.1 Who Can Be a Beneficiary? §5.2 Class Designation: “Children,” “Issue,”
“Heirs,” and “Relatives” (Some Rules of Construction) §5.3 The Beneficiary's
Property Interest §5.4 Rights of the Beneficiary §5.5 Involuntary or Voluntary
Loss of the Beneficiary's Rights §5.6 Duties and Liabilities of the
Beneficiary §5.7 The Necessary Parties to a Suit Brought by a Beneficiary
Chapter 6. The Trustee's Duties
§6.1 General Duties §6.2 Specific Duties Incident to General Duties §6.3
Governmental Reporting Obligations
Chapter 7. The Trustee's Liabilities
§7.1 Trustee's Liabilities Generally (Breaches of Trust; Beneficiary's
Standing to Seek Judicial Relief; Defenses) §7.2 Trustee's Internal Liability
as Fiduciary to the Beneficiary §7.3 Trustee's External Liability as Legal
Owner to Nonbeneficiaries §7.4 Trustee's Discharge in Bankruptcy
Chapter 8. Miscellaneous Topics of General Interest to the Trustee
§8.1 Powers of Appointment §8.2 Termination of the Trust and Final
Distribution §8.3 The Transfer of Trust Property §8.4 The Trustee's
Compensation §8.5 Conflict of Laws §8.6 Qualifying the Non-Human Being to
Serve as a Trustee; Corporations Domestic and Foreign; Partnerships §8.7
Merger §8.8 Whom Does Counsel Represent? §8.9 Why More Than One Trust: The
Estate and Generation- Skipping Tax §8.10 Fiduciary Principles Applicable to
the Mutual Fund §8.11 What Are the Duties of the Trustee of a Revocable Inter
Vivos Trust? §8.12 Where the Trust Is Recognized outside the United States
§8.13 In Litigation Pertaining to a Trust, When Is the Beneficiary Entitled to
Reimbursement from the Trust Estate for Legal Fees? §8.14 When a Guardian ad
Litem (or Special Representative) Is Needed: Virtual Representation Issues
§8.15 Doctrines Ancient and Modern §8.16 The Trustee of Revocable Trust as
“Inadvertent Executor”: When There Is a Duty to Prepare the Estate Tax Return
§8.17 Mistake-Based Trust Reformation or Modification Actions to Achieve
Tax-Efficiency Trust Reformation to Remedy Mistakes; Trust Modification; Tax
Objectives §8.18 Regulation 9 Revised §8.19 When the Bank Trustee Merges or
Consolidates §8.20 Tax Apportionment within and without Trust §8.21 Duty of
Third Parties to Investigate Whether Trustee Has Power to Act or Is Properly
Exercising the Power §8.22 Why Do We Need the Trust When We Have the
Corporation and the Third-Party Beneficiary Contract? §8.23 How a Trust Can
Facilitate Gifts to Minors §8.24 Burdens of Proof; Standards of Proof §8.25
Few American Law Schools Still Require Agency, Trusts, and Equity §8.26 Why
Trustees Need to Know about Will Residue Clauses §8.27 The Difference between
a Legal and Equitable Life Estate, between a Legal and an Equitable Reversion,
between a Legal and an Equitable Springing Interest, and between a Legal and
an Equitable Shifting Interest §8.28 The Bishop Estate Controversy §8.29 Is a
Custodial Parent the Trustee of Child Support Payments? §8.30 The Difference
between a Vested Equitable Remainder Subject to Divestment and a Vested
(Transmissible) Contingent Equitable Remainder §8.31 The Franklin Trust
(Boston) §8.32 Can the Trustee Escape Liability for Making a Mistake of Law If
He Acted in Good Faith on Advice of Counsel? §8.33 Is the Level of an
Uncompensated Trustee's Duty of Care Lower Than That of a Compensated Trustee?
§8.34 When an Employer Identification Number (EIN) Is Not Required §8.35 The
Hershey Trust §8.36 May the Trustee Represent the Trust in the Federal Courts
without Counsel? §8.37 The Origin of the English Trust §8.38 The Warren Trust
(a.k.a. The Mills Trust) §8.39 Settlor's Choice of Law as to Meaning and
Effect of Terms of Trust §8.40 Judicial Jurisdiction Over Trustee, Beneficiary
and/or the Trust Property; Venue Issues; Subject Matter Jurisdiction §8.41
What Is to Be Done with Net Income When There Is No Current Beneficiary? §8.42
What Is the Difference between a Complaint (Petition) for Instructions and a
Complaint (Petition) for Declaratory Judgment? §8.43 Who Is the Settlor of the
Trust? §8.44 Mediation and Arbitration Have Their Limitations When It Comes to
Trust Disputes §8.45 What Is the Difference between a Good-Faith Purchaser for
Value (BFP) and a Holder in Due Course? §8.46 Proof of Facts in Trust
Litigation
Chapter 9. Special Types of Trusts
§9.1 The Grantor Trust §9.2 The Irrevocable Life Insurance Trust §9.3 The
Disability/Special Needs/Supplemental Needs Trust §9.4 The Charitable Trust
§9.5 Trusts for Deferring Taxation of Income §9.6 Business Trusts; Trusts That
Generally Function Like Corporations or Agencies §9.7 Commingled Trust Funds
§9.8 Quasi-Trusts, Hybrids, and Virtual Trusts §9.9 False Trusts §9.10 The
Offshore Asset Protection Trust §9.11 The Bankruptcy Trustee §9.12 The
Condominium Trustee §9.13 The Unitrust §9.14 The Qualified Domestic Trust
(QDOT) §9.15 The Qualified Personal Residence Trust (QPRT) §9.16 Statutory
Trusts §9.17 I.R.C. §2503(c) Trusts for Minors §9.18 The Crummey Trust §9.19
Blind Trusts in the Public and Private Sectors §9.20 The Gallo Trust §9.21
Alaska's “Community Property Trust” §9.22 Medicaid Qualifying Trust §9.23 S
Corporations; Qualified Subchapter S Trusts (QSSTs); Electing Small Business
Trusts (ESBTs) §9.24 The Incentive Trust (and the Public Policy
Considerations); Marriage Restraints; Provisions Encouraging Anti-Social
Behavior §9.25 The Joint Trust §9.26 The Marital Deduction Trust (Including
the QTIP Trust) §9.27 The Purpose Trust §9.28 The Domestic Asset Protection
Trust (DAPT) §9.29 The Adapted Trust §9.30 Marriage Settlements (England)
§9.31 Corporate Trusts; Trusts to Secure Creditors; The Trust Indenture Act of
1939; Protecting Bondholders §9.32 The Ancillary Trusteeship
Chapter 10. The Income Taxation of Trusts
§10.1 Introduction to the Fiduciary Income Tax §10.2 Trust Income §10.3
Deductions (Fiduciary Income Tax) §10.4 Fiduciary Income Tax and Payments
§10.5 Practical Information Relating to the Fiduciary Income Tax §10.6 Final
Word on the Fiduciary Income Tax §10.7 Income Taxation of Business Trusts
Chapter 11. Tax Basis/Cost of Trust Property
§11.1 Tax Basis/Cost of Trust Property—A General Introduction §11.2 Tax Basis
of Trust Inception Assets §11.3 Tax Basis of Trust Property While in Trust
§11.4 Tax Basis of Trust Distributions out of Trusts §11.5 Recent Developments
in the Law (Tax Basis Determination)
Table of Cases
Table of Restatements
Table of Uniform Acts
Index
