The Law of Trusts

This new edition of The Law of Trusts provides comprehensive and up to date coverage of both the general principles and the application of trust law in specific areas of legal practice. The book has been fully revised and updated to take into account recent legislation and case law from key trust jurisdictions, and to include new material on the rule in Hastings-Bass; different applications of the constructive trust; trustees' liability for breach of trust; the taxation of trusts and estate planning; trusts of pension schemes and financial regulation. It also contains expanded material on areas that have recently grown in importance, such as the emergence of shams and retention of control of trust assets by the settlor; and the growing use of Special Purpose Vehicles in offshore commercial dealings. The book is helpfully split into two parts along these lines: Part One considers the general principles involved and includes coverage of: all aspects of express private trusts; the duties and powers of trustees; the variation of trusts; trusts implied by law; and breach of trusts. Part Two puts the general principles to work by covering key practice areas including: insolvency; private client trusts; international trusts; pension funds; financial transactions; commercial transactions; and trusts of land. This is a substantial work written by expert academics who also have experience of practice, supported by contributions from key specialists.

SECTION ONE: GERNERAL PRINCIPLES OF THE LAW OF TRUSTS ; PART A: INTRODUCTION TO THE LAW OF TRUSTS ; Introduction: The Scope of the Book ; 1. The Nature of the Trust ; PART B: EXPRESS PRIVATE TRUSTS ; 2. The Three Certainties ; 3. Certainty of Subject Matter ; 4. Certainty of Objects ; 5. The Constitution of an Express Private Trust ; 6. Trusts for Non-Charitable Purposes: The Beneficiary Principle ; 7. The Nature of a Beneficary's Interest ; 8. Trusts with Unlawful Purposes: The Rules Against Perpetuities, Against Inalienability, and Against Excessive Accumulations ; PART C: THE DUTIES AND POWERS OF TRUSTEES ; 10. The Duties of Trustees: Part One ; 111. The Duties of Trustees: Part Two ; 12. Disclosure of Information by Trustees ; 13. The Powers of Trustees: Part One ; 14. The Powers of Trustees: Part Two ; 15. Delegation by Trustees ; 16. Powers of Revocation ; 17. Disclaimer, Release, and Extinguishment of Powers ; 18. The Excessive Execution of a Power ; 19. Fraud on a Power ; 20. The Judicial Review of the Exercise of Trustee's Discretions ; 21. Rights of Trustees ; 22. Death, Retirement, Removal, and Appointment of Trustees ; 23. Particular Trustees and Protectors ; 24. Variation and Amendment of Trusts ; PART D: TRUSTS IMPLIED BY LAW ; 25. An Introduction to Trusts Implied by Law ; 26. Resulting Trusts ; 27. Constructive Trusts in Reponse to Unconscionable Behaviour ; 28. Constructive Trusts to Enforce Agreements ; 29. Constructive Trusts in Response to Abuse of Fiduciary Position ; 30. The Liability of Strangers to Account as Constructive Trustees ; PART F: PRIVATE CLIENT TRUSTS ; 34. Private Client Trusts: Inheritance Tax ; 35. Interest in Possession Trusts ; 36. Trusts for Minors and Young Persons ; 37. Discretionary Trusts ; 38. Disabled Trusts ; 39. Testamentary Trusts ; PART G: INTERNATIONAL TRUSTS ; 40. Offshore Asset Protection Trusts ; 41. Offshore Purpose Trusts ; 42. The Cayman Islands' STAR Trust, the British Virgin Islands Special Trusts Act 2003 ; 43. International Trusts: Choice of Law ; 44. Jurisdiction, Remedies and the Recognition and Enforcement of Foreign Judgements ; PART H: OCCUPATIONAL PENSION SCHEMES ; 45. Nature and Structure of Occupational Pension Scheme Trusts ; 46. Trusteeship and Duties of Trustees of Occupational Pension Scheme Trusts ; 47. Legislation Affecting Benefits ; 48. Amendment Termination, and Regulation of Occupational Pension Schemes ; PART I: TRUSTS IN FINANCIAL TRANSACTIONS ; 49. Trustees in the Law of Finance ; 50. Trusts of Financial Instruments and Money ; 51. Trusts Used to take Security in Commercial Transactions ; 52. Trusts in Relation to Debt Securities ; 53. Unit Trusts ; 54. Investment of Private Express Trusts ; PART J: TRUSTS USED IN COMMERCIAL CONTEXTS ; 55. Trusts which Conduct a Business ; 56. Fiduciary Liability in the Creation of Financial and Commercial Transactions ; 57. Trusts and the Termination of Contracts ; PART K: TRUSTS OF THE LAND AND OF HOME ; 58. Trusts of the Family Home ; 59. Trusts of Land