Charles E. Rounds, Jr. - Suffolk University Law School

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Boston, MA 02108-4977, United States
Phone: 617-573-8185
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Publications About Awards

May a Mentally Incapacitated Trustee Be Held Personally Liable for His Breaches of Trust?

Assume sole trustee of an irrevocable discretionary trust for benefit of deceased settlor’s descendants living from time to time suffers a sudden unforeseen mental disability that causes trustee to imprudently administer the…more
 /  Civil Procedure, Civil Remedies, Commercial Law & Contracts, Finance & Banking, Wills, Trusts, & Estate Planning

Parsing the Uniform Trust Code in Isolation Without Regard to the Uniform Probate Code and the Uniform Powers of Appointment Act is Not Advised

Intro. The Uniform Trust Code (UTC) is a mere aggregation of tweaks to the corner of equity jurisprudence that long ago gave birth to and currently stewards the trust relationship, hereinafter “the background trust law.” That…more
 /  Civil Procedure, Civil Remedies, Commercial Law & Contracts, Finance & Banking, Wills, Trusts, & Estate Planning

When Hostilities Break Out Between Co-trustees, Where Does That Leave Trust Counsel?

When hostilities break out between individual co-trustees, incumbent trust counsel faces a representation conundrum. In §8.8 of Loring and Rounds: A Trustee’s Handbook (2025), see appendix below, we grapple with the complexities…more
 /  Alternative Dispute Resolution (ADR), Civil Procedure, Commercial Law & Contracts, Professional Malpractice, Wills, Trusts, & Estate Planning

Individual Trustee Delegates to Financial Institution the Job of Taking Custody and Keeping Track of Income and Principal: The Fiduciary Considerations

While PC software programs are a practical improvement over the trustee’s hard-copy ledger book, when it comes to keeping track of trust income and principal these programs still require serious clerical monitoring on the part…more
 /  Commercial Law & Contracts, Family Law, Finance & Banking, Professional Malpractice, Wills, Trusts, & Estate Planning

Due to scrivener negligence, the dispositive provisions of a trust fail to reflect the deceased settlor’s wishes: Can it be that there is no judicial remedy?

Assume the deceased settlor of a trust had intended that his niece be included in the beneficiary class, but his estate-planning attorney had negligently made no provision for her in the governing instrument. After settlor’s…more
 /  Civil Remedies, Commercial Law & Contracts, Constitutional Law, Professional Malpractice, Wills, Trusts, & Estate Planning

When virtual representation is not an option in trust-reformation litigation

In an external contract-based or tort-based dispute between the trustee and a third party to the trust relationship, the beneficiaries are generally not necessary parties. But all beneficiaries (of an irrev. trust) whose…more
 /  Civil Procedure, Commercial Law & Contracts, Constitutional Law, Family Law, Wills, Trusts, & Estate Planning

Legislative appropriations that are deceptively marketed as trusts: The sagas of the Federal Social Security Trust Fund and South Carolina’s Education Scholarship Trust Fund

Many of my JDSUPRA postings, a full catalog of which may be found below, are about the doctrinal incoherence that is being inflicted on the institution of the trust by legislative intrusions into equity doctrine, intrusions…more
 /  Constitutional Law, Education Law, Wills, Trusts, & Estate Planning

When the centerpiece of a trustee’s defense in a breach-of-fiduciary-duty action is an empty file cabinet and a general lack of recall

An incident of the trustee’s duty to be generally prudent, to account (or report) to beneficiaries, and to refrain from breaches of the duty of undivided loyalty, such as engaging in unauthorized self-dealing, is the trustee’s…more
 /  Civil Procedure, Family Law, Wills, Trusts, & Estate Planning

The Uniform Trust Code inadvertently puts a bullseye on the trustee’s doctrinally indispensable affirmative duty to furnish all beneficiaries with critical information

Many of my prior JDSUPRA postings caution that codification of the law of trusts, such as the Uniform Trust Code (UTC), are only partial codifications. See the catalogue of my prior postings below. There is much prevailing…more
 /  Family Law, Wills, Trusts, & Estate Planning

Equity’s maxims have many jurisprudential functions, one critical function being to sinew the equitable principles that regulate the law of trusts

Equity’s maxims have many jurisprudential functions, one critical function being to sinew the equitable principles that regulate the law of trusts. A court that is saddled with sorting out the rights, duties and obligations of…more
 /  Family Law, Finance & Banking, Wills, Trusts, & Estate Planning

Whether an equitable power of appointment incident to a trust relationship is “in gross” or “collateral”: The practical implications

Section 17.3, comment f, of the Restatement (Third) of Property (Wills and Other Donative Transfers) explains the difference between a collateral power of appointment and a power of appointment in gross: “In traditional…more
 /  Finance & Banking, Wills, Trusts, & Estate Planning

The trustee has brought a reformation action to reorder the equitable property rights of the trust’s beneficiaries: Spotting the fiduciary issues

Section 415 of the Uniform Trust Code provides that even in the absence of ambiguity the court may reform the terms of a trust to conform the terms to the settlor’s intention if it is proved by clear and convincing evidence…more
 /  Civil Procedure, Wills, Trusts, & Estate Planning

The federal Corporate Transparency Act (CTA), whose constitutionality is currently being tested in the courts, creates another statutory exception to the trustee’s duty of confidentiality

The federal Corporate Transparency Act (CTA), effective January 1, 2024, whose constitutionality is currently being tested in the courts, follows in the footsteps of the IRC in that it creates a limited statutory exception to…more
 /  Commercial Law & Contracts, Constitutional Law, Finance & Banking, Privacy, Wills, Trusts, & Estate Planning

Trustee in breach of trust conveys trust property to a third party: Is the transferee a necessary party to an action for breach of trust brought by a beneficiary of the trust?

If the trustee in breach of trust conveys the trust property to a third party to the trust relationship, would the transferee be a necessary party to any action for breach of trust that the trust beneficiaries might bring? It…more
 /  Civil Procedure, Constitutional Law, Family Law, Finance & Banking, Wills, Trusts, & Estate Planning

Creating a nonvoidable domestic asset protection trust (DAPT) that has multijurisdictional contacts: The state and federal conflict-of-laws minefields

Creating a domestic asset protection trust (DAPT) that both has multijurisdictional contacts and is nonvoidable in whole or in part is easier said than done. There are the state conflict-of-laws issues, a few of which I have …more
 /  Commercial Law & Contracts, Constitutional Law, Real Estate - Residential, Wills, Trusts, & Estate Planning
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