Please enable JavaScript.
Coggle requires JavaScript to display documents.
Trust law (As well as providing additional powers of investment for…
Trust law
As well as providing additional powers of investment for trustees in trust law, some jurisdictions have also adopted prudent investment rules which can include that the trustee should
Look at the objectives of the trust and construct a portfolio specifically incorporating risks as well as return objectives
Diversify the assets of the trust, unless there is a prudent reason not to do so
Take into account inflation so as to preserve the real value of the assets of the trust and income payments
-
-
-
-
Proper law of a trust
-
-
It is the law that would be used to determine the answers to questions relating to the validity or interpretation of a trust and other important matters such as the duties and powers of the trustee
-
In addition to the proper law of the trust, other legislation may apply as the trust legislation of some offshore jurisdictions provide that their courts have jurisdiction in circumstances where
-
-
-
The administration of any trust property of a foreign trust is carried on in that offshore jurisdiction
-
In addition to the statute law, law has also developed as result of judicial precedent (earlier court decisions) which means that some trust law is found in case law
-
Trust law in the majority of offshore jurisdictions have developed by following UK trust law and are slowly adapting and applying their own laws in recognition of TA2000
As offshore jurisdictions introduce different and diverse products into the trust marketplace, they must also ensure that their trust laws also develop accordingly
Good offshore practitioners will seek to keep up to date with developments to the laws in both the UK and in other offshore centres.The relevance of the outcome of UK cases to some offshore practitioners is that the statutory provisions in offshore jurisdictions are often modelled on English Acts of Parliament and where this is the case, English cases are frequently referenced by courts
Since the introduction of trust laws in offshore jurisdictions, where there is an absence of specific express powers in the trust deed, there are now statutory powers that trustees can rely on
-