Commentary

I5.1211 The form of foreign trusts

IHT, trusts and estates

I5.1211 The form of foreign trusts

I5.1211 The form of foreign trusts

The concept of the trust originated in English law. The idea has been exported world-wide to those territories which adopted and embraced the common law system.

However, there is no universal trust law. Each territory has adapted English trust law as necessary for its own purposes. For example, under English trust law a trust must be for the benefit of a natural person (or persons, possibly defined as members of a class) or established for charitable purposes only. Some other common law jurisdictions, however, allow for a 'purpose' trust to be established, ie a trust

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