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Loring and Rounds: A Trustee's Handbook, 2021 Edition by Charles E. Rounds, III Kirch Rounds Bowman & Deffenbaugh PC , Charles E. Rounds, Jr. Suffolk University Law School Loring and Rounds: A Trustee's Handbook, 2021 Edition by Charles E. Rounds, III Kirch Rounds Bowman & Deffenbaugh PC , Charles E. Rounds, Jr. Suffolk University Law School

Loring and Rounds: A Trustee's Handbook, 2021 Edition

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Loring and Rounds: A Trustee’s Handbook is an invaluable practical resource that addresses the rights, duties, and obligations of the parties once the trustee takes title to trust property. This Handbook steers you through this complex field, providing property owners with a mechanism for seeing to the needs of beneficiaries in cost-effective, creative, efficient, and flexible ways. Loring and Rounds: A Trustee’s Handbook is a handy, ready reference, and a gateway to the treatises, restatements, law review articles, uniform statutes, and cases you need to know.

This fully integrated and bound volume of the 2021 Handbook brings you up to date on the latest cases, statutes, and developments, as well as new or updated discussion of topics as follow:

  • The Handbook continues the lengthy process of pruning some of the deadwood; significant exposition has been cut, revised, or combined. In sum, the Handbook is now even leaner, meaner, and more usable than ever.
  • In addition, numerous new cases and secondary sources have been added. These include the following:
    • The 2021 Handbook fully covers the fourth income and principal act issued by the Uniform Law Commission, namely the Uniform Fiduciary Income and Principal Act (2018), otherwise known as UFIPA. UFIPA has been covered extensively in this edition and has been added in many separate sections.
    • A new section covers remedies at law for breaches of trust, such as the tort of intentional interference with inheritance or acquisition by inter vivos transfer.
    • In addition, the Handbook has been updated with 200+ new cases, including:
      • Roth v. Jelley, holding that, when it comes to a judicial proceeding that could adversely affect the equitable property rights of a trust beneficiary,the beneficiary is entitled under the Due Process Clause of the Fourteenth Amendment to notice and an opportunity to be heard. This case also discusses the various consequences attendant to the failure to provide such notice.
      • Hector v. Bank of N.Y. Mellon, where the court, having in part looked to the Restatement (Third) for guidance, held that the designated passive corporate trustee of a securitized fund of mortgage-backed notes would not be personally at fault, and therefore, not personally liable for any injuries to the tenants of a certain parcel of real estate, title to which the trustee had acquired via foreclosure, that might be occasioned by their exposure to lead paint in and about the premises.
      • Murphy v. Trustee of Star Financial Bank, a case discussing the unfortunate linkage of survivorship and per stirpes: “to their surviving children per stirpes.” The court held that the way in which “surviving” and “per stirpes” were linked rendered the provision itself ambiguous in that the “condition of survival negates the right of representation inherent in a per stirpes distribution.”
    • 2020 Tax Rates for Trusts and 2021 Projected Tax Rate Schedule for Trusts

Note: Online subscriptions are for three-month periods.

Previous Edition: Loring and Rounds: A Trustee's Handbook, 2020 Edition, ISBN 9781543818666

Last Updated 12/07/2020
Update Frequency Annually
Product Line Wolters Kluwer Legal & Regulatory U.S.
SKU 10083602-7777
Publish Frequency Annually
Product Line Wolters Kluwer Legal & Regulatory U.S.
SKU 000000000010066288
Table of Contents
  • Introduction
  • The Property Requirement
  • The Trustee's Office
  • Interests Remaining with the Settlor
  • The Beneficiary
  • The Trustee's Duties
  • The Trustee's Liabilities
  • Miscellaneous Topics of General Interest to the Trustee
  • Special Types of Trusts
  • The Income Taxation of Trusts
  • Tax Basis/Cost of Trust Property
  • Table of Cases
  • Table of Restatements
  • Table of Uniform Acts
About The Experts

The Mid-Year Supplement to the 2020 Edition of Loring and Rounds: A Trustee’s Handbook is entitled The Trustee’s Guide to Blockchain and Cryptocurrency. There is much commentary out there on the fast-developing world of blockchain technology, but little from the fiduciary’s perspective. Now, thanks to our visiting author, Robin Sosnow, Esq., a nationally-recognized practitioner-scholar specializing in the rapidly-evolving law of blockchain and cryptocurrency, that gap has been filled.

The use of cryptocurrency in the administration of trusts, either as a medium of exchange or as an investment asset, or both, can be fraught with peril for the fiduciary. But for the fiduciary to turn his gaze away altogether may be fraught with peril as well. In the Mid-Year Supplement we:  

  • Explore blockchain technology’s beginnings and its byproduct, cryptocurrency
  • Review the distributed-ledger concept behind blockchain’s beginnings
  • Examine applications that might be of value to the trust administrator.
  • Consider how the use of blockchain in trust administration can implicate, whether for good or for ill, the myriad duties of a trustee that are the subject of Chapter 6 of the Handbook’s annual editions.