The American Law Institute OFFICERS' Roswcll B. Perkins, Chair of the Council Michael Traynor, President Conrad K. I larper, lst Vice President Elizabeth Warren, 2nd Vice President Bennett Boskey, 7keasurer Lance Liebman, Director Elena A. Cappella, Deputy Director Michael Greenwald, Deputy Director COUNCIL Kenneth S. Abraham Charlottesvillc Virginia Shirley S. Abrahamson Madison Wisconsin Philip S. Anderson Little Rock Arkansas Susan Frelich Appleton St. Louis Missouri Richard Sheppard Arnold Little Rock Arkansas Josd I. Astigarraga Miami Florida Sheila L Birnbaum New York New York Allen D. Black Philadelphia Pennsylvania Bennett Boskey Washington District of Columbia Amelia H. Boss Philadelphia Pennsylvania Michael Boudin Boston Massachusetts William M. Burke Costa Mesa California Elizabeth J. Cabraser San Francisco California Hugh Calkins Cleveland Ohio Gerhard Casper Stanford California William T. Coleman, Jr. Washington District of Columbia Edward H. Cooper Ann Arbor Michigan N. Lee Cooper Birmingham Alabama Roger C. Cramton Ithaca New York Lloyd N. Cutler Washington District of Columbia George H.T. Dudley St. Thomas U.S. Virgin Islands Christine M. Durham Salt Lake City Utah William H. Erickson Denver Colorado Tlhomas E. Fairchild Madison Wisconsin George Clcmon Freeman, Jr. Richmond Virginia Paul L Friedman Washington District of Columbia Conrad K. I larper New York New York Geoffrey C. Hazard, Jr.* Philadelphia Pennsylvania D. Brock Hornby Portland Maine Vester T. Hughes, Jr. Dallas "l'xas As of March 3,2003 'Director Emedtus COUNCIL Mary Kay Kane San Francisco California Herma Hill Kay Berkeley California Carolyn Dineen King I touston Texas Carolyn B. Lamm Washington District of Columbia Douglas Laycock Austin Texas Pierre N. Leval New York New York Betsy Levin Washington District of Columbia Hans A. Linde Salem Oregon Martin Lipton New York New York Myles V. Lynk Tempe Arizona Robert MacCrate New York New York Margaret H. Marshall Boston Massachusetts John J. McKetta, Ill Austin Texns Vincent L McKusick Portland Maine Daniel J. Meltzer Cambridge Massachusetts Robert H, Mundheim New York New York Kathryn A. Oberly New York New York Roswell B. Perkins New York New York I larvey S. Perlman Lincoln Nebraska Ellen Ash Peters Hartford Connecticut Louis H. Pollak Philadelphia Pennsylvania Roberta C. Ramo Albuquerque New Mexico Mary M. Schroeder Phoenix Arizona Sherwin P.Simmons Miami Florida Wm. Reece Smith, Jr. Thmpa Florida Robert A. Stein Chicago Illinois John T.Subak Boca Grande Florida Michael Traynor San Francisco California Bill Wagner Tampa Florida Patricia M. Wald Washington District of Columbia Elizabeth Warren Cambridge Massachusetts of Columbia William H. Webster Washington District George Whittenburg Amarillo Texas Herbert P.Wilkins Boston Massachusetts James H. Wilson, Jr. Atlanta Georgia Enteriius Council Aembers Joseph F Johnston Birmingham Alabama Jersey Nicholas deB. Katzenbach Princeton New Hale McCown Yellow Springs Ohio Ernest J. Sargeant Boston Massachusetts Lawrence E. Walsh Oklahoma City Oklahoma RESTATEMENT OF THE LAW THIRD TRUSTS REPORTER OEowAm C. HALUACH, JR., University of California at Berkeley School of Law, Berke- ley, California ADVISERS Mu.4 L. ASCHER, University of Texas School of Law, Austin, Texas MARTIN D. BEGLEITER, Drake University Law School, Des Moines, Iowa JONATHAN BLATIMACHR, New York, New York CHRISTINE M. DuHHAM, Associate Chief Justice, Utah Supreme Court, Salt Lake City, Utah MARY LOLnSE ftaows, University ofMinnesota Law School, Minneapolis, Minnesota E. JAMES GAMBLE, Bloomfield Hills, Michigan JOHN T. GAUGArZ, University of Miami School of Law, Coral Gables, Florida HUGH R. JONES, New Hartford, Now York (to 19971 JOSEPH KARTIcANR, New York, Now York JOHN H. LANCHEIN, Yale Law School, Now Haven, Connecticut BEvIs LONGSTRETH, New York, New York [from 1998] **WiLLtA M. McGovERN, JR., University of California at Los Angeles School of Law, Los Angeles, California PAM H. SCHNEIDER, Philadelphia, Pennsylvania SHERAIN P. SIMMONS, Miami, Florida ROBERT A. STEIN, Executive Director, American Bar Association, Chicago, Illinois JAMEs R. WADE, Denver, Colorado LAWRaNCE W. WAGGONEIt, University of Michigan Law School, Ann Arbor, Michi- gan DONOVAN W. M. WATERS, Victoria, British Columbia, Canada HmERT P. WinloNs, Boston College Law School, Newton, Massachusetts, formerly Chief Justice, Supreme Judicial Court of Massachusetts JOSEP L. WYAI'r, JR., Lns Angeles, California EX OFFICIO RoswmI.i B. PERKINS, New York New York Chair of the Council, The American Law Institute MICHAEL TRAYNOR, San Francisco, California President,The American Law Institute LANCE LIEnIA, New York, New York Director, The American Law Institute *The American Law Institute A. James Casner Reporter [from 1993]. 'Professor McGovern served as Associate Reporter from 1996 to 1998. MEMBERS CONSULTATIVE GROUP Trusts (as of February 16, 2001) ALEX A. ALSTON, JR., Jackson, JOHN P. BuRTON, Santa Fe, New Mississippi Mexico JA',1S BAnR AMis, Boston, JONATHAN H. CHURCHILL, New York, Massacbusetta Now York R GORDON APPLEMAN, Fort Worth, CAROLYN COCHRANCLARK, New York, Texas New York MARK 0. ARNOLD, St. Louis, Missouri HARRY CLAYTON CC , JR., Washington, JERALD DAVID AUGUST, West Palm D.C. Beach, Florida THE RT. HON. TIE LORD COOKE OF ROBERT E. AUSTIN, JR., Leeaburg, THORNDON, Wellington, New Florida Zealand LAWRENCE HERnAm AVEJILL, JR., Little DAVE L. CoRNFELD, St. Louis, Missouri Rock, Arkansas JAMES J. CROMWELL, Rockville, Lumaut J. AVERY, San Francisco, Maryland California CHRISTOPHER SCOTT D'ANGELO, STEVEN K. BALMAN, Tulsa, Oklahoma Philadelphia, Pennsylvania GEORGE PATERSON BARTON, Wellington, JOEL C. DoBaus, Davis, California New Zealand ALLAN G. Domi, Norfolk, Virginia G. D'ANDELoT BELIN, Boston, Massachusetts JAY DRATLER, JR., Akron, Ohio EDWARD B. BENJAMIN, JR., Now W, WAYNE DRINKWATER, JR., Jackson, Orleans, Louisiana Mississippi FRANK S. BERALL, Hartford, PHYLLIS KAY DRYDEN, San Francisco, Connecticut California MARiAN MAYER BERKETr, New Orleans, STEPHEN DYcus, South Royalton, Louisiana Vermont LAWRENCE BILDER, New Jersey Superior MICHAEL B. ELEFANTE, Boston, Court, Appellate Division, Jersey Massachusetts City, New Jersey IVAN A. ELLIorPT, JR., Carmi, Illinois HARVEY ERNEST BINES, Boston, DAvWi M. ENGLISH, Columbia, Missouri Massachusetts HAROLD BOLTON FINN I1, Stamford, IRA MARK BLOOM, Albany, New York Connecticut MAx E. BLUfmrTHAL, Baltimore, MICHAEL D. FLOYD, Birmingham, Maryland Alabama GEOaGE T. BOGERT, Chicago, Illinois PurcH FLYNN, Illinois Circuit Court of BRUCE H. BOKOR, Clearwater, Florida Cook County, Chicago, Illinois RICHARD A. BOOrT, Rockville, Maryland AnRIA M. FOLEY, JR., Roseland, New JACKSON M. BRUCE, JR., Naples, Florida Jersey ALICE GRESHAM BULLOCK, Washington, MICHAEL R. FORD, Oklahoma City, D.C. Oklahoma MEMBERS CONSULTATIVE GROUP ROBERT L. FREEDMAN, Philadelphia, ELIZABETH SLussEaR KELLY, Pennsylvania Philadelphia, Pennsylvania MARION R. FREMONT-SMITH, Boston, EDWARD T. KENYON, Chilmark, Massachusetts Massachusetts MARTIN L. FRIED, Syracuse, New York CATHERINE KESSEWIAN, Paris, France K. BRUCE FRIEDMAN, San Francisco, CHARLES CAPEN KINGSLEY, New Haven, California Connecticut MARVIN GARFINHEL, Philadelphia, RICHARD S. KINYON, San Francisco, Pennsylvania California JOHN L. GARVEY, Washington, D.C. A. KODzO PAAKu KLUDZE, Camden, New DANIEL A. GECKER, Richmond, Virginia Jersey A. SPENCER GILBERT 111,Jackson, KENNETH M. KLUG, Fresno, California Mississippi DANIEl, C. KNICKERBOCKFR, JR., JOSEPH GOLDBERG, Albuquerque, New Brooklyn, New York Mexico RICHARD H. KOPPES, Sacramento, JOSEPH W. GRIER, JR., Charlotte, North California Carolina GERAI.n KO NOoLn, Cleveland, Ohio DAVID W. CRIltING, New Orleans, JEFFREY D. KovAit, Washington, D.C. Louisiana ANDREW KULL, Atlanta, Georgia H. REzsE HANSEN, Provo, Utah HARRY V. LAMON, JR., Atlanta, Georgia RICHARD E.V. HARRIS, Piedmont, WILLIAM P. LAPIANA, New York, New California York MAURICE A. HARTNETT, III, Delaware HERBERT 1. LA.FROW, San Diego, Supreme Court, Dover, Delaware California WILLIAM DixoN HAUGHT, Little Rock, Arkansas RICHARD D. LEOAT, Boston, Massachusetts H. OsE HESS, Philadelphia, Pennsylvania VICTOR B. LEVIT, San Francisco, California WILIAM B. HILGERS, Austin, Texas DAVID MAURICE LEviTAN, Roslyn HENRY P. HOFFSTOT, JR., Pittsburgh, Harbor, New York Pennsylvania BARARA B. LEwIs, Louisville, Kentucky ERIC MILLS HoLMEs, Grundy, Virginia WILLIAM JOSEPH LiNKous, JR., Atlanta, JEROLD I. HORN, Peoria, Illinois Georgia THOMAS WOODWARD HOUGHTON, HOUSTON PUTNAM LowRY, Meriden, Houston, Texas Connecticut DONALD L. HowELL., Houston, Texas JOHN SHAFROTH LUTz, Denver, MONT P. HoYrT, Houston, Texas Colorado JOSEPH E. IMBRACO, Summit, New W. CULLEN MAcDONALD, New York, Jersey New York J. RODNEY JOHNSON, Richmond, H. STEPHEN MADSEN, Cleveland, Ohio Virginia GRAYSON M.P. MCCOUCH, Coral Gables, RICHARD JULIEN, Belvedere, California Florida RICHARD Z. KABAt(ER, Madison, JSEPH MCLAUGHLN, New York, New Wisconsin York MEMBERS CONSULTATIVE GROUP SAM SCOTT MILLER, New York, New J FREY G. SHERtAN, Chicago, Illinois York DAVID T. SMITH, Gainesville, Florida SAmiUL K. MURUMBA, Brooklyn, New CLARE H. SPRINC,S, San Francisco, York California ARNOLD K. MYTrLKA, Springfield, New TimOMA4 E. STANTON, JR., San Jersey Francisco, California LAWRLNCE NEWMvA'I, New York, New STEwART E. STERK, New York, New York York JOHN KRANZ Nonc, JR., Chicago, Illinois WILLIAM K. STEVENS, Naples, Florida MARILYN 0. ORInOVRR, Brooklyn, Now SHALm D. STILLER, Baltimore, Maryland York JULE E. STOCKRi,