International Trust Laws

Second Edition

Paolo Panico

Compares trust law across a number of jurisdictions, providing the reader with references to offshore case law legislation and case law that is often inaccessible.
Covers law and practice in leading trust centres such as Jersey, Guernsey, the Cayman Islands, the Bahamas, and the Isle of Man, with examples drawn from a wealth of other jurisdictions including New Zealand, Dubai, Mauritius and the Cook Islands.
Provides detailed analysis of common law and the recognition and circulation of trusts in civil law jurisdictions where trusts are practised under the Hague Trust Convention.
Includes discussion of offshore and onshore trust jurisdictions.
The book can be used either with a focus on a particular jurisdiction, analysing its trust law in relation to those of other jurisdictions; or with a focus on a particular topic, such as settlor's reserved powers, beneficiaries' rights to information, or protector's duties, illustrated by approaches from various trust jurisdictions.

International Trust Laws

Second Edition

Paolo Panico

Description

International Trust Laws is a wide-ranging comparative guide to the law of trusts across a number of important jurisdictions, with analysis of issues surrounding the creation of trusts, the powers and duties of trustees, mechanisms of control, and the special uses of trusts.

The book combines academic rigour and analysis with a practical focus on trusts in the real world, including assets which modern settlors wish to envelop in a trust; liability concerns of trustees; and the governance, command, and control mechanisms which increasingly form the largest feature of trust creation. It also provides valuable background for trust law practitioners, whether they advise on trusts, draft trust documents, or litigate trust-related matters.

The new edition has been fully revised and updated to address important developments in case law and legislation, including the UK Supreme Court decision on the "rule in Hastings-Bass" (Pitt and Futter cases), the Privy Council decision on 'reserved powers trusts' (TMSF), decisions on forced heirship issues in Jersey and Guernsey, decisions on 'asset protection trusts' in the US, the Trusts (Amendment N. 5) (Jersey) Law 2012 and Trusts (Amendment N. 6) (Jersey) Law 2013, Hong Kong's Trust Law (Amendment) Ordinance 2013, the Virgin Islands Special Trusts (Amendment) Act 2013 and Trustee (Amendment) Act 2013, Cyprus' International Trusts (Amendment) Law 2012 Cayman Islands, Trusts Law (2011 Revision), and amendments to the trusts law of New Zealand. It also offers new coverage of the retirement, removal, and appointment of trustees, with a special emphasis on trustee indemnity; and the recognition of trusts in non-trust jurisdictions (civil law jurisdictions, Eastern Europe, Islamic countries, and China).

International Trust Laws

Second Edition

Paolo Panico

Part I: Creation of Trusts
1. Creation and Validity of Trusts: The Settlor's Intention
Part II: The Powers and Duties of Trustees
2. Trustee Investments: Powers and Duties
3. Delegation of Trustee Functions
4. The Business Enterprise as a Trust Asset
5. Dispositive Powers and the Rule in Hastings-Bass
Part III: Trustee Liability
6. Trustee Liability to Third Parties
7. Trustee Exemption Clauses
8. Trustees' Renumeration and Expenses
Part IV: Control Mechanisms
9. Disclosure of Information to the Beneficiaries and Letters of Wishes
10. Protectors
Part V: Special Uses of Trusts
11. Protection from Heirs and Creditors
12. Non-Charitable Purpose Trusts

International Trust Laws

Second Edition

Paolo Panico

Author Information

Paolo Panico, Managing Director, Private Trustees SA

Paolo Panico is Managing Director of Private Trustees SA, Luxembourg & Geneva, and Adjunct Professor of International Business at the University of Modena, Italy.

International Trust Laws

Second Edition

Paolo Panico

Reviews and Awards

"The book's orientation is global, its subject matter vast and detailed. It covers analyses of the laws and the often parallel, as well as contrasting, approaches to trusts over a range of jurisdictions. It purports to identify trends and developments, explains the author, but does not attempt to provide 'a comprehensive operational guidance to the laws of any particular jurisdiction." - Phillip Taylor MBE, The Barrister

"...copiously researched and lucidly written, "International Law of Trusts" is an important book." - Phillip Taylor MBE, Richmond Green Chambers

"...a remarkable achievement - jurisdictional monoglots, such as myself, have much to learn from it, and from the author's experience and example." - Toby Graham, Trusts and Trustees