‘A CONCEPT SO DEFINITIONALLY AMPHOROUS’ HERE’S AN AUTHORITATIVE PRACTITIONERS’ GUIDE TO THE WORKINGS OF INTERNATIONAL TRUSTS An appreciation by Phillip Taylor MBE and Elizabeth Taylor of Richmond Green Chambers First things first here: an international trust, essentially, is a trust and a trust is an idea – a concept if you will - that has evolved though expediency and necessity over a number of centuries across a range of jurisdictions worldwide. ‘The development from century to century of the trust idea,’ Prof. Maitland called it a century or so ago. In the words of the learned editors of this authoritative work of reference, an international trust…has ‘a connection of legal significance with two or more countries’ where -- to offer one example -- an individual from one country may create a trust governed by the laws of another country wherein which he or she may have worked or settled. Originating mainly from the common law countries -- primarily Britain and the regions over which she held imperial sway – trusts, for a number of historical reasons, have taken hold in a number of non-common law jurisdictions as well. The introduction to this volume of almost 1,000 pages mentions that a number of offshore centres have generated a remarkable quantity of trust legislation ‘designed unashamedly to attract trust business.’ The private trust, for instance, has been adapted in a number of regions to support individuals and enterprises in today’s competitive international and commercial environments. The trust as a concept is widely accepted and understood, yet despite its popularity and the fact that it works, it continues to defy precise definition. ‘With a concept so definitionally amphorous as the trust, ‘ says one of the learned contributors to this book ‘there are likely also to be the doctrinal developments that are welcomed in one jurisdiction but rejected as unacceptable in others,’ This has certainly happened in Commonwealth countries, notably Canada. These and a host of other issues pertaining to international trusts are examined and analysed in this useful book. Logically divided into four parts, the book works efficiently as a research tool, with its detailed table of contents and index. Part I contains the conflict of laws chapters, each extensively updated. Part II, also updated, includes the latest developments in such areas as trusts and finance law and money laundering and trusts. Particularly topical is Part III, which deals with Italy and China, while Part IV is the very erudite and quotable contribution by Professor Donovan Waters who, in his chapter on the future of the trust, makes some rather fascinating references to the past. Delving into the theory and practice of international trusts while presenting an interesting historical perspective, this book will certainly enhance one’s understanding of trusts in general and international trusts in particular. The research sources are massive, including tables of cases, of national legislation and of conventions and EU materials. The Appendix contains The Hague Convention on the Law Applicable to Trusts and on their Recognition 1985. If you practice in the area of international trust law, this new third edition of ‘The International Trust’ is a must-have purchase. The publication date is November 2011.

Phillip Taylor - 10/04/2012 Report this Review

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