This book is concerned with the development of the trust idea in common law jurisdictions, whether mainland or offshore, and in civilian law jurisdictions. While trusts are important for preserving family wealth and influence, over ninety per cent of the value of trust funds is found in commercial or financial trusts, about which little has been written. It is interest in the latter type of trust that is likely to lead to the development of the trust idea in European mainland jurisdictions, especially as the economic destinies of European jurisdictions become increasingly intertwined and as The Hague Convention on the Recognition of Trusts comes to be implemented.
In this volume the work of leading trust scholars in Canada, England, the US, Germany and Japan is brought together to explore key issues in trust law, until now not covered in any single resource:
• the full elasticity of the trust concept
• the variety and significance of commercial or financial trusts
• the scope for reforming trust law in various jurisdictions to make it more economically efficient in assisting in the preservation and generation of wealth
• the potential for the development of a core trust concept in civil law jurisdictions as a special part of the law of obligations, without any need to create equitable proprietary interests in favour of beneficiaries
Modern International Developments in Trust Law will be of interest not only to academic trust lawyers and comparative lawyers, but also to common law and civil law practitioners, whether interested in taking advantage of foreign trust laws, or in developing in their local jurisdictions new ideas obtained from foreign jurisdictions. This work provides an unrivalled understanding of the trust in theory and in practice.
Table of Contents
Chapter 1: Anglo-Trusts, Euro-Trusts and Caribbo-Trusts: Whither Trusts? David Hayton; Chapter 2: Principles of European Trust Law, David Hayton; Chapter 3: The Hague Convention on the Law Applicable to Trusts and Their Recognition, Hein Kötz; Chapter 4: The Modern Development of Trust Law in Germany, Hein Kötz; Chapter 5: The Law of Trusts and the Development of Trust Business in Japan, Makoto Arai; Chapter 6: The Use of the Trust in Canada Today, Donovan Waters; Chapter 7: The Uses and Purposes of Trusts in the United States, Edward Halbach; Chapter 8: The Uses of Trusts in the Commercial Context, David Hayton; Chapter 9: The Secret Life of the Trust: The Trust as an Instrument of Commerce, John Langbein; Chapter 10: The Restatement Third of Trusts: A Look Ahead, Edward Halbach; Chapter 11: The Uniform Prudent Investor Act and the Future of Trust Investing, John Langbein; Chapter 12: The Revision and Modernisation of Trustee Acts in Canada, Donovan Waters; Chapter 13: Modernising the Trustee Act 1925, David Hayton; Chapter 14: Modern Trust Law Reform in the United Kingdom, David Hayton; Chapter 15: Exploiting the Inherent Flexibility of Trusts, David Hayton; Index.
