Trust law to be overhauled

By | November 25, 2013

As you may be aware, the Law Commission published its review on trusts in September. The Commission has recommended changes to the legislation dealing with trusts including giving courts the ability to order the transfer of trust assets to compensate disadvantaged partners following marriage or other relationship breakdowns.

Law Commission President, Sir Grant Hammond, said it was in the public interest “to have a modern statute that gives trustees and others guidance as to how a trust is to be managed and increases the accountability of trustees”.

We will keep you abreast of developments.