Edition 2001 of Loring A Trustee's Handbook is due out in February of 2001. It supersedes all prior editions, including the Seventh Edition which should be discarded. Loring has been the bible of trust professionals nationally for over 103 years. In 1994, Prof. Rounds breathed new life into Loring with the publication in hard back of the Seventh Edition. It had been 30 years since the last edition was published. The Seventh Edition was followed by the 1996 Edition in soft cover. Since then, there has been a 1997 Edition in soft cover, a 1998 (Centennial) Edition in hard back, a 1999 Edition in hard back and a 2000 Edition in hard back. Each edition has been a substantial improvement over its highly regarded predecessor. Edition 2001 is no exception.

Edition 2001 contains as an appendix the Uniform Trust Code in its final form. The Code was approved August 3, 2000 by the National Conference of Commissioners on Uniform State Laws. This has necessitated the updating and revision of Loring 2000's more than 63 citations to the October 1999 draft of the Code.

An effort has been made to weave some material about non-U.S. trust practices and about civil law trust analogues into the text and footnotes. The reader will note that Loring now includes The Hague Convention on the Law applicable to Trusts and on Their Recognition in its entirety. The Convention also is reproduced as an appendix.

Prof. Rounds has added yet more material of interest to litigators trying trust cases. He continues to make every effort to keep his readers abreast of the Rule Against Perpetuities abolition movement and of the proliferation of domestic asset protection havens.

The region-by region mathematical analysis of standard charge schedules of professional trustees has been updated to September 2000 and now contains a sixth column devoted to an analysis of the standard charge schedules of Boston's private, i.e. non-corporate, individual trustees. See §8.4 (The Trustee's Compensation). The federal income tax rates for trusts, reproduced in Chapter 10, now has 2001 numbers. All tax-related materials have been revised to accommodate the annual increases in the credit equivalent/applicable exclusion amount, a process that began in 1998 and concludes in 2006. Form 706 for decedents dying in 2000 appear as an appendix. An attempt has also been made to keep a current tally of those states adopting some form of the Prudent Investor Rule. See ?6.2.2.1, footnote 94 (The Harvard College Prudent Man Rule and Its Progeny).

§5.2 (Class Designation: "Children," "Issue," and "Heirs") has been considerably beefed up as has §8.2.1.8 (Perpetuities and Powers of Appointment).

There is even more cross-referencing in Loring 2001 than there was in Loring 2000. With the introduction of 15 new sections, Prof. Rounds continues the process of filling in gaps in Loring's presentation of the substantive material. And he continues to comb the text and footnotes for errors. Finally, the handbook's index continues to be refined and expanded.

There are approximately 20 pages of new text in Loring 2001. 24 U.L.A. references have been updated. There are 251 new footnotes, 69 new case references, 33 new law review references and four new treatise reference. Hundreds of pre-existing footnotes have been corrected, updated, and/ or revised. The reader should understand, however, that in spite of all this new material, Loring continues to be lean and mean. There is no frivolous footnoting, no mindless stringing of citations. Each footnote is either itself a wealth of useful information or the gateway to it.

The following sections in Loring 2001 are new:

• §5.4.1.8 Right [of Beneficiary] to Proceed in Stead of Trustee Against Those with Whom the Trustee Has Contracted, Against Tortfeasors, and Against His Agents, i.e. Against Third Parties.
• §5.4.4 Beneficiary's Right to Terminate the Trust.
• §5.7 The Necessary Parties to a Suit Brought By a Beneficiary.
• §7.2.3.7 Assessment of Attorneys' Fees and Other Costs Against the Trustee Personally.
• §8.12.1 Civil Law Alternatives to the Trust.
• §8.12.2 The Hague Convention on the Law Applicable to Trusts and on Their Recognition.
• §8.15.20 Doctrine of Deviation.
• §8.15.21 Doctrine of Cloberrie's Case.
• §8.15.23 The Thelluson Act.
• §8.15.25 Doctrine of Undisclosed Principal.
• §8.15.26 Fraud on the Power Doctrine.
• §8.32 Can the Trustee Escape Liability for Making a Mistake of Law If He Acted in Good Faith on Advice of Counsel?
• §8.33 Is the Level of an Uncompensated Trustee's Duty of Care Less Than That of a Compensated Trustee?
• §9.20 The Gallo Trust
• §9.21 Alaska's "Community Property Trust."

To order Edition 2001 of Loring A Trustee's Handbook, formerly a Little, Brown & Co. publication and now a Panel Publication, dial toll-free 1-800-638-8437 or click on to www.aspenpublishers.com.