Internal Revenue Code (IRC): Federal tax code that governs the taxation of trusts, including income tax requirements, gift tax implications, and estate tax considerations
Uniform Trust Code (UTC): Model law adopted by many states that provides a comprehensive framework for trust administration, trustee powers, and beneficiary rights
Securities Act of 1933: Federal law governing securities investments within trusts, including registration and disclosure requirements
Investment Company Act of 1940: Federal legislation regulating the organization and activities of investment companies, relevant for trusts with investment portfolios
Employee Retirement Income Security Act (ERISA): Federal law governing retirement trusts and employee benefit plans, establishing standards for fiduciary duties and participant protection
State Trust Codes: State-specific laws governing trust formation, administration, and enforcement within the particular jurisdiction
State Property Laws: Laws governing property rights, transfer, and ownership within the state where the trust operates
Prudent Investor Rules: State-specific standards for trust investment management and fiduciary responsibility
Rule Against Perpetuities: Common law principle limiting the duration of trust provisions to prevent perpetual control over property
Uniform Principal and Income Act: Standardized rules for allocating receipts and expenditures between principal and income in trust accounting
Generation-Skipping Transfer Tax Rules: Federal tax provisions affecting trusts that transfer assets to beneficiaries more than one generation younger than the grantor
Spendthrift Provisions: Legal protections preventing beneficiaries from transferring their interest and protecting trust assets from creditors
Fiduciary Duties: Common law principles establishing trustees' obligations of loyalty, care, and good faith in managing trust assets
State Securities Regulations: State-specific rules governing securities transactions and investment activities within trusts
Banking Regulations: Federal and state regulations applicable when the trustee is a banking institution
