ABSTRACT
Over the past half century, the trust has undergone momentous change. A generation of Chancery practitioners reduced it from being a doctrine to a loophole. What, perhaps, many did not realise was that the changes would mostly be for the worse. Before explaining which aspects of the modern express trust trouble my conscience, I divide its history into Three Ages of the Trust. We now live in the Age of the Loophole Trust (1969-). To help us understand this latest stage, I utilise equity’s most venerable teaching aid – the maxim. My remarks are structured around three new (surreptitious) maxims.
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Sham Qayyum, Some new maxims of chancery: ‘Explicated for the more facile introduction of such as are studiously addicted to that noble profession’, Trusts and Trustees, https://doi.org/10.1093/tandt/ttaa107. Published: 4 January 2021.
First posted 2021-01-08 12:32:14
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