COURSE DESCRIPTION 2012 2013

Trusts

Prof. Charles E. Rounds, Jr,

2 credits day; 2 credits evening.

This course provides a basic introduction to the law of Trusts, Agency and Powers of Appointment—three important common law fiduciary relationships. This course complements the student‘s exposure to fundamental common law principles begun with the Contracts, Torts and Property courses. The primary focus of the course will be the fundamentals of trust law. Topics will include: what is a trust; what are its essential elements; how are trusts created, modified, and terminated; trust functions and limitations; the rule against perpetuities; trusts and powers of appointment; the rights, duties, responsibilities, liabilities and immunities of the parties; and the rights of third parties. Fundamentals of agency law will be considered as they pertain to the administration of the trust. The context of this course will be the management and transfer of private wealth. Throughout the course, the trust will be used to demonstrate the principles and the importance of the fiduciary relationship. A take-home course project will be given in lieu of an examination. A student may not enroll in Trusts if the student has completed Fiduciary Relations. The Trusts course or Fiduciary Relations is a prerequisite to the course in Advanced Estates, Powers, and Trusts. See also Prof. Sandoe's web page for students interested in pursuing a career in the fields of Estate Planning and Trust and Estate Administration. Professor Rounds requires a final exam; Professor Sandoe requires a final project.

Elective Course

Recommended for the Mass Bar