The Restatement (Third) of Trusts is the present iteration of a long project. The review reads it as such: against its predecessors, against the Code it parallels, and against the cases that have cited it.
Particular attention is given to the prudent investor rule, the duty of impartiality, and the treatment of discretionary distributions, each of which the Restatement addresses in terms that differ in emphasis from the Code.
The review closes with a note on the apparatus — the comments, the reporter's notes, and the cross-references — that makes the Restatement a working reference for the trustee, the litigator, and the student of equity.