Is a revocable trust document drafted by the grantor considered applicable law according to 12 CFR 9.2(b)?

A revocable trust document drafted by the grantor is indeed considered applicable law as referenced in 12 CFR 9.2(b). This regulation outlines the application of trust instruments and provides guidelines regarding the legal status of such documents. When the grantor creates a revocable trust, they retain significant control over the assets within the trust and can modify or revoke the trust at any time.

Since a revocable trust is a legal instrument created under state law, it is treated similarly to other legal documents in terms of applicability. The trust document outlines the terms under which the trust operates, including the management of assets and the distribution to beneficiaries. Therefore, it carries legal weight and is governed by relevant laws, making it applicable in the context outlined in the regulation.

This understanding underscores the importance of trust documents in estate planning, as they serve not only as a tool for asset management but also as legally binding documents that must be acknowledged within the framework of applicable law.