Introduction 1
Ⅰ CREATION OF TRUSTS 13
1. Creation and Validity of Trusts: The Settlor's Intention 13
Ⅱ THE POWERS AND DUTIES OF TRUSTEES 109
2. Trustee Investments: Powers and Duties 109
3. Delegation of Trustee Functions 151
4. The Business Enterprise as a Trust Asset 171
5. Dispositive Powers and the Rule in Hastings-Bass 195
Ⅲ TRUSTEE LIABILITY 235
6. Trustee Liability to Third Parties 235
7. Trustee Exemption Clauses 287
8. Trustees' Remuneration and Expenses 319
Ⅳ CONTROL MECHANISMS 347
9. Disclosure of Information to the Beneficiaries and Letters of Wishes 347
10. Protectors 405
Ⅴ SPECIAL USES OF TRUSTS 449
11. Protection from Heirs and Creditors 449
12. Non-Charitable Purpose Trusts 527
Index 583