Complimentary RPTE member only, non-CLE Teleconference recorded on March 13, 2018
Speakers: John D. Morley, Professor of Law, Yale Law School and Robert H. Sitkoff, John L. Gray Professor of Law, Harvard Law School
Moderator: David English, University of Missouri
Across the centuries, the law of trusts evolved on the assumption that full power to administer a trust would belong to a trustee. A directed trust departs from this tradition by granting a power over a trust to a person who is not a trustee. The fundamental policy question arising from the emergence of directed trusts is how the law of trusteeship should be divided among a directed trustee and trust director. The Uniform Law Commission has just finished work on the Uniform Directed Trust Act (UDTA), which provides clear, practical, and comprehensive solutions to all of the major legal difficulties in a directed trust. At the same time, the UDTA offers a host of technical innovations that dramatically improve on existing directed trust statutes, and that point to a variety of drafting practices for directed trusts that could be improved in all states. In this session, Professors Robert Sitkoff (Harvard) and John Morley (Yale), respectively the Chair and the Reporter for the UDTA drafting committee, will discuss the UDTA and what it means for directed trust practice.
Professors' Corner is a monthly teleconference featuring law professors discussing recent cases or issues of interest to real estate practitioners and scholars.