Restatement (Third) of Trusts

The Restatement (Third) of Trusts is a legal document that clarifies and updates the principles governing trusts in the United States. Trusts are arrangements where one party (the trustee) holds and manages assets for the benefit of another party (the beneficiary). ThisRestatement aims to provide clear guidelines on how trusts should be created, administered, and enforced, addressing issues like the duties of trustees, the rights of beneficiaries, and how to resolve disputes. It serves as a reference for judges, lawyers, and scholars to ensure consistency and fairness in trust law.