Law of trusts

Bill died recently. According to his will, the residue of his entire estate is to be held in trust as follows: (a) to provide training for soldiers; (b) to provide uniforms for soldiers serving in Bill’s old regiment; (c) to encourage the government to increase military spending. Fred and Simon were appointed as the executors of Bill’s estate and the trustees of his will trusts. They seek your advice concerning the validity of those trusts. Bill’s old regiment was disbanded last year. Advise Fred and Simon

San Marino trust law is embedded in a consolidated civil law tradition stretching back to the ius commune system of fiduciary instruments, thereby making it possible to trace, to a large extent, an itinerary related to common law trusts, and to challenge unwarranted allegations (now, fortunately, fading away) that trusts cannot be transplanted into civil law countries. San Marino has not confined itself to imitating other offshore legislation, but has drawn up a unique trust system reconciling the typical features of international models - thus embarking on the race to attract the trust business within its borders - with the peculiarities of its own system of sources. Hovering between the principles of confidence and patrimonial separation, the international models and ius commune, San Marino trust law proves to be the perfect combination of innovation and tradition, and longs to become a benchmark for the regulation of trusts established in civil law jurisdictions.

L’opera, dopo aver passato in rassegna le principali caratteristiche del trust, dell’atto di destinazione e del negozio di affidamento fiduciario nonché le più rilevanti questioni problematiche ad essi relative (capitolo 1), esamina in modo assai approfondito (attentamente vagliando le posizioni in merito tanto della dottrina quanto della giurisprudenza, anche inedita) le implicazioni dell’utilizzo di tali negozi in ambito familiare: all’attenzione del lettore vengono così poste (con una costante attenzione all’esigenza – sovente trascurata dalla prassi – del rispetto delle norme imperative del nostro ordinamento) le relazioni fra di essi e la disciplina in tema di regime patrimoniale della famiglia (capitolo 2), di crisi del matrimonio o dell’unione civile (capitolo 3), di accordi fra conviventi (capitolo 4), di incapacità totale o parziale di agire (capitolo 5) e di tutela dei diritti successori dei legittimari (capitolo 6). Il lavoro tiene conto anche dei più recenti provvedimenti legislativi che sono intervenuti nella materia in esame: trattasi  della legge del 20.5.2016, n. 76 (recante “Regolamentazione delle unioni civili tra persone dello stesso sesso e disciplina delle convivenze”) e della c.d. “legge sul dopo di noi” del 22.6.2016, n. 112 (recante “Disposizioni in materia di assistenza in favore delle persone con disabilita' grave prive del sostegno familiare”).

Information overload is a new challenge in e-commerce sites. The problem refers to the fast growing of information that lead following the information flow in real world be impossible. Recommender systems, as the most successful application of information filtering, help users to find items of their interest from huge datasets. Collaborative filtering, as the most successful technique for recommendation, utilises social behaviours of users to detect their interests. Traditional challenges of Collaborative filtering, such as cold start, sparcity problem, accuracy and malicious attacks, derived researchers to use new metadata to improve accuracy of recommenders and solve the traditional problems. Trust based recommender systems focus on trustworthy value on relation among users to make more reliable and accurate recommends. In this paper our focus is on trust based approach and discuss about the process of making recommendation in these method. Furthermore, we review different proposed trust metrics, as the most important step in this process.

In this paper, the author traces the now-commonplace protector mechanism back to its offshore roots. By focusing explicitly on private, express offshore trusts, the present writer asks, first, what motivated the trust parties to include this entirely optional office in their dealings and, second, whether their reasons for inclusion could not have been more effectively achieved without a protector. This will include an exploration of those common powers conferred to the office, and a particular focus on the 'agency costs' theory of trusts, which emerged during the 1990s and offers a normative lens through which the value of the protector can be analysed.

Με την παρούσα επιχειρείται μία συνοπτική και εύληπτη παρουσίαση ενός θεσμού, που έλκει την καταγωγή του από το αγγλοσαξωνικό δίκαιο, του θεσμού του εμπιστεύματος, γνωστού ως “Trust”. Το πρώτο μισό της παρούσας έχει ως στόχο να παρουσιάσει τη βασική δομή του εμπιστεύματος, τα μέρη που το αποτελούν (settlor, trustee, beneficiary), αλλά και τις μορφές, που μπορεί να λάβει ένα εμπίστευμα ανάλογα με τις λειτουργίες, που εκάστοτε εξυπηρετεί. Το δεύτερο μισό πραγματεύεται ένα ζήτημα υψηλής σπουδαιότητας, αυτό της φορολογικής μεταχείρισης του εμπιστεύματος από την ελληνική φορολογική διοίκηση. Πιο συγκεκριμένα, εξετάζεται η φορολογική αντιμετώπιση της δράσης ενός εμπιστεύματος στη χώρα μας αλλά και των μερών, που το απαρτίζουν, τόσο βάσει του Κώδικα Φορολογίας Εισοδήματος (Ν. 4172/2013) όσο και βάσει του Κώδικα Φορολογίας Κληρονομιών, Δωρεών και Γονικών Παροχών (Ν. 2961/2001).

Considering the worsening climate change, in the future outer space might be our last Noah’s Ark. Now, humans must look
to space as an opportunity to support growing resource requirements. Asteroids are rich in metals, which could be transported
back to Earth. Unfortunately, the existing international legal framework discourages investments in the space economy. Once
an enterprise invests billions of dollars in discovering and developing a mining site, it cannot claim any ownership because of
the non-appropriation principle stipulated in Article 2 of the Outer Space Treaty (OST). Thus, other entities could legally
access and exploit the same resource without any participation in the initial financial investment, increasing the risk of potential
conflict. Bearing this in mind, the question arises, which legal regime could ensure effective allocation of resources, avoiding
a chaotic space race to acquire valuable assets? The aim of this research is to argue that the first two articles of OST should be
amended, to set up an international legal trust system which would guarantee different kinds of rights, dependently on the
nature of the celestial body. E.g., property rights could be preferable to a lease over asteroids, as they could be exploited to
their disappearance. This proposed system would be led by the United Nations Office for Outer Space Affairs (UNOOSA), as
the main trustee. The co-trustees would be the nations of the world. Prior to initiating any space activity, every entity would
send a request to their national government. If all the legal parameters are respected, the nation would forward the operational
request to the UNOOSA. In the case of acceptance, UNOOSA would record the permit on an international public registry. The
country in which the company has been registered would investigate whether the activities of its national company are
consistent with the permit. This would be the ordinary model. The extraordinary model would be when the applicant for the
space activity is a state, then the trustee would be the UN. All lucrative activities would be subject to benefit-sharing. Finally,
this research will demonstrate the valuable outcome of the International Legal Trust System and its advantages for all
humankind. Private companies would rely on property rights, while the benefit-sharing could be used to finance the 17
Sustainable Development Goals adopted by the UN in 2015, which address peace, climate change, inequalities and poverty.

... існуватиме і багато випадків «квазі-довірчої» власності, коли фізичні і юридичні особи акумулюватимуть сільськогосподарські землі в інтересах інших осіб в «тіньовому» режимі, коли номінальний характер власності та відносини між номінальним власником та бенефіціаром будуть ґрунтуватися на неформальних домовленостях і опосередковуватимуться низкою удаваних правочинів. Така ситуація, на жаль, в умовах існування жорстких (і, як на мене, повністю невиправданих) обмежень на ринку земель є неминучою, проте, звичайно, небажаною ...

This is my condensed revision guide on the law of Equity and Trusts, Which include case summaries, statutory references and summaries of textbooks.

Please note that: These notes were drafted in 2014, though you should check your reading list for any post 2014 cases/statutes and supplement these notes if necessary; these notes are based on the BPP Law School syllabus. You should check your syllabus and focus on the content of that syllabus when using my notes.

This paper re-examines the Privy Council’s decision in Re Goldcorp Exchange Ltd .  The central question this paper addresses is - How would an English court decide a case with near identical facts to Re Goldcorp Exchange Ltd? - i.e. where the rights of “owners” of non-allocated personal property held by a hopelessly insolvent depository were contested by the holders of a floating charge over the assets of the depositary.

we are here asked to consider a ‘battle for value’ (as John Tribe describes it between) between Karen’s children and niece Natalia, specifically Daniel on the one hand, who is arguing for a resulting trust for Karen’s estate (to be divided equally among her three children) and Aurelia, Colin and Natalia on the other...

This chapter considers the landmark family property decisions of the House of Lords in Pettitt v Pettitt [1970] AC 777 and Gissing v Gissing [1971] AC 886 through the prism of imputed common intention, an idea advanced by Lord Diplock in Pettitt and (on one view) implemented in a different form by him in his speech in Gissing. The conclusion is that the common intention trust analysis, as first put forward in the speech of Lord Diplock in Gissing, did not directly involve the imputation of common intentions. The notion of imputation has, following Stack v Dowden [2007] 2 AC 432 and Jones v Kernott [2012] 1 AC 776, crept back into the modern law on the common intention trust in respect of the secondary issue of quantification. However, as is argued in the chapter, it seems unnecessary to present the modern approach to quantification in terms of the imputation of a non-existent common intention. The chapter places Pettitt and Gissing in the context of the earlier case law – e.g. looking closely at the overrated ‘imputed common intention’ approach of the minority in Pettitt and its relationship with more overtly discretionary approaches of the Court of Appeal in earlier cases. The chapter also links this analysis to a consideration of the impact of the more recent cases of Stack v Dowden and Jones v Kernott.

Sommario: 1. I fatti.-2. la vicenda e il provvedimento.-3. le questioni sul tap-peto.-4. Il controllo "del" e "sul" trustee e lo statuto legale di amministrazione del patrimonio delle persone prive di autonomia.-5. Trust a causa complessa.-6. Trust a causa familiare.-7. Trust a causa di solidarietà.-8. causa familiare e di solidarietà e persone prive in tutto o in parte di autonomia.-8.1. la capacità di donare della persona soggetta ad amministrazione di sostegno.-8.2. Il (preteso) principio di personalità della volizione liberale.-8.3. le regole applicabili ai trust liberali e alle liberalità indirette.-9. A mo' di conclusione.
== Abstract ==
I trust a vantaggio di persone deboli possono valorizzarne la dignità, sia nella dimensione individuale, sia nell’ambito dei rapporti familiari. Sul piano organizzativo, il controllo del trustee è perfettamente compatibile con un controllo sul trustee da parte del guardiano, anche con poteri di revoca e di nomina di un nuovo trustee. Sul piano contenutistico, la nuda proprietà di immobili costituisce un valore, prima che un diritto e può essere fondamentale per la realizzazione del programma.
Nei trust a causa familiare e di solidarietà c’è riscontro di una cause suffisante. La causa familiare e quella di solidarietà sono autonome rispetto a quella liberale. Nel caso in cui disponente sia una persona priva di autonomia occorre rifarsi alle valutazioni del giudice, cui è demandato il compito di fissare, caso per caso, il punto di equilibrio tra beneficità e autodeterminazione. La discrezionalità del trustee nella distribuzione dei redditi e nella scelta del beneficiario finale non incontra invece ostacoli nella personalità della volizione liberale.
Nelle conclusioni l’Autore apre una finestra sulle regualae che governano l’ampiezza e la profondità delle investiture fiduciarie alla luce della legge 22 dicembre 2017, n. 219: se è possibile mettere in mani altrui la propria vita, non si vede perché non si possa affidare alla discrezionalità altrui i proprî denari.
***
Trusts for the benefit of weak persons can enhance their dignity, both in individual dimension and in the context of family relationships. From an organisational point of view, the control of a trustee is perfectly compatible with the enforcer’s power to oversee the trustee, including powers to revoke and appoint a new trustee. In terms of content, the bare ownership is a value, before a right, that can be fundamental to the implementation of the program.
Family trusts and trusts for benefit of a charity present an autonomous consideration. If the settlor is  interdict or minor, it’s necessary to rely on the judge’s assessment: the judge has to find, case by case, a balance between legal protection and self-determination. The trustee’s discretionary in distribution of incomes and in choice of the final beneficiary doesn’t encounter obstacles in the personality of the liberal volition.
In his conclusions, the Author opens a window on the regualae that govern the breadth and depth of fiduciary investitures with regard to italian Law no. 219 of 22 December 2017: if it’s possibile to put life on hands of an other person, at the same way it should be possible to rely own money on trustee’s discretionary.

Sri Lanka gained independence from colonial rule in 1948. Despite most of the laws operating today are those which introduced at that colonial era. Some Ordinances specifically state that in case of a gap English Law will apply; One such major Ordinance is Trust Ordinance No. 9 of 1917. This paper attempts to clarify whether Sri Lanka is bound to apply English Law principles when it is an independent sovereign state today. Going further the paper discusses the advantages and disadvantages of applying English law principles.

Rezumat: Acest articol continuă seria și își propune o analiză succintă a condițiilor de fond și de formă a contractului de fiducie. Dacă în ceea ce privește condițiile de fond textul legal nu își propune să inoveze, în ceea ce privește condițiile de formă și formalitățile necesare pentru opozabilitate textul de lege este mai mult decât inovator. Fără nici un fel de pretenții de a fi epuizat problematica condițiilor de fond, de formă și de opozabilitate, a doua parte a articolului o reprezintă un eseu de analiză a problematicii efectelor produse atât de contractul de fiducie cât și de operațiune în integralitate sa.

Cuvinte cheie: fiducie, condiții de fond, condiții de formă, formă autentică, efectele ale contractului, obligații fiduciare, fond fiduciar

Un terzetto di recenti decisioni di merito si
segnala come valido spunto per una riflessione
a proposito dei rimedi efficacemente esperibili
dai creditori avverso un trust interno non
preordinato al perseguimento di interessi
meritevoli di tutela e, anzi, teso ad eludere
la garanzia patrimoniale del debitore prevista
dall’art. 2740 c.c.
Tale riflessione prende le sue mosse dall’analisi
delle operazioni oggetto dei rispettivi casi e
dalla ricerca di possibili elementi ricorrenti
nella casistica giurisprudenziale, procede soffermandosi
sull’idoneità dei beni vincolati in
trust a perseguirne la finalità; sulla legittimazione
del trustee; sulle ipotesi di nullità dell’atto
istitutivo di trust; e sulla revocabilità di
trust non immeritevole.

SOMMARIO Parte I: Prologo. -1. A mo' d'introduzione. -2. Impostazione della tematica. -Parte II: I terzi e gli atti a titolo gratuito relativi a beni non vincolati. -Sezione I: I terzi immediati. -3. La tutela dell'affidamento dei terzi immediati. -4. Gli aventi causa dal debitore. -5. Gli acquisti per atto simulato. -6. Intermezzo: gli acquisti a titolo gratuito e lo stato soggettivo dell'avente causa. -6.1. Segue: rapporti tra il creditore, da un lato, e il donante e il donatario, d'altro lato. -6.2. Segue: rapporti tra il donante, da un lato e il donatario, d'altro lato. -7. I creditori del debitore a cui favore sia stata concessa ipoteca. -Sezione II: I terzi mediati. 8. La tutela dell'affidamento dei terzi mediati. -9. I subacquirenti dall'avente causa a titolo gratuito. -9.1. Segue: Le tesi contrapposte. -9.2. Segue: Una proposta interpretativa di sintesi. -9.3. Segue: La salvezza dei subacquirenti a titolo oneroso e di buona fede: identificazione della buona fede. -10. I creditori ipotecari dell'avente causa a titolo gratuito dal debitore. -11. La prova del nove. -Parte III: I terzi e gli atti a titolo gratuito relativi a beni vincolati. -12. La tutela dell'affidamento dei terzi nel caso di alienazione di beni vincolati. -Parte VI: I creditori. -13. Qualche precisazione sui creditori ex art. 2929-bis c.c. -13.1. Il creditore procedente ex art. 2929-bis c.

The late economic crisis has given impetus to trusts settled in furtherance of unlawful purposes, namely, to put assets out of the reach of creditors. This scheme is particularly evident in the Italian scenario, where the courts have used the sham doctrine to tackle trusts in which settlors reserved to themselves massive powers, thereby turning trustees into marionettes in their hands. While doing so, the Italian courts have had a hard time to grasp the contours of sham. Meanwhile, in common law jurisdictions the concept of sham is going through a radical development, which undermines the canonical view based on parties' intentions and properly focuses on trust functions under the circumstances. The intermeshing of legal orders might show that it is no longer possible to draw a clear dividing line between the civil law and common law approaches.

Neither in England, nor in Germany, nor in all Canadian provinces, does the law provide specic rules for the redistribution of property for unmarried cohabitants after the breakdown of their relationship. Instead, courts apply the law of trusts, contract and unjust enrichment with an eye to the characteristics of intimate relationships, as, for example, in decisions like the English Jones v Kernott ([2011] UKSC 53) and the Canadian Kerr v Baranow (2011 SCC 10). This article compares English, Canadian, and German case law and evaluates it both from a doctrinal perspective and as a part of a general approach towards cohabitation. The article concludes with an appeal for legislative action that strikes the right balance between party autonomy and protection of the weaker party.

A summary of the Federal Court’s decision in Chin Jhin Thien & Anor v Chin Huat Yean @ Chin Chun Yean & Anor [Federal Court Civil Appeal No. 02(f)-29-04/2019].

The key takeaway is that the concept of secret trust, which is part of the law of trust and is governed by the rules of equity and the common law of England, is applicable in Malaysia subject to the proviso to section 3(1) of the Civil Law Act 1956 unless there is an explicit abrogation, variation, restriction or modification by written law.

A discussion of the common law duty to account for unauthorised profits and commissions earned in the capacity as a fiduciary.
A trail of how this duty tend to change over the years as courts try to find the best remedy for a principal who suffers breach of fiduciary duty

This paper aims to present a comparative law study about the enforceability of arbitration clauses in a trust, with particular emphasis on the U.S. and Latin American developments and a notion of the issue in the international context. Part 1 is an introduction of the topic. Part 2 will discuss arbitration in estate planning by providing a brief description of its advantages in comparison to litigation, by commenting on different ways to implement enforceable arbitration in estate planning devices and then by suggesting mediation as a way to commence the forthcoming process prior to binding arbitration. Part 3 will discuss the developments in the United States with binding arbitration clauses in trusts and wills, looking at case law, states' projects and institutional initiatives. Part 4 will address the international experience, reviewing international movements toward the recognition of mandatory arbitration clauses in estate planning devices and some legislation that officially recognizes the clauses in wills and trusts. Finally, Part 5 will present a conclusion and my recommendation, regarding the need of legislation.