MANDATORY RULES IN THE LAW OF TRUSTS

The law of trusts consists overwhelmingly of default rules that the settlor who creates the trust may alter negate; however, there are some mandatory rules that the settlor is forbidden to vary. Langbein discusses the recent developments in American trust law that have clarified the mandatory rules-...

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Bibliographic Details
Published inNorthwestern University law review Vol. 98; no. 3; p. 1105
Main Author Langbein, John H
Format Journal Article
LanguageEnglish
Published Chicago Northwestern University (on behalf of School of Law) 01.03.2004
Subjects
Beneficiaries
Charitable trusts
Federal legislation
Investment
Restrictions
State court decisions
Trusts
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Summary:The law of trusts consists overwhelmingly of default rules that the settlor who creates the trust may alter negate; however, there are some mandatory rules that the settlor is forbidden to vary. Langbein discusses the recent developments in American trust law that have clarified the mandatory rules--intent-defeating rules that restrict the settlor's autonomy and intent-serving rules whose purpose is to discern and implement the settlor's true intent--and explores the rationale for these rules.
ISSN:0029-3571