Guernsey Trust Law

1. Foundation and Principles I. Introduction II. Saisie III. Statutory Family Trusts IV. Protective Trusts of Movables V. Religious Trusts in Connection with the Holding of Churches VI. Other Charities VII. Statutory Schemes for the Holding of Churches and Schools VIII. Use of Trusts in Wills and Other Documents IX. Growing Use and Statutory Recognition of Trusts in the Twentieth Century X. Recognition of Trusts by the Guernsey Court XI. Proposals for the Trusts Law 1989 XII. Overview of the Trusts Law 2007 XIII. Application of Trusts Laws and Amendments XIV. The Role of Authorities and Precedent in Guernsey 2. Express Trusts I. Article 29 of the Succession Law 1840 II. Trusts under the Succession Law 1890 III. Trusts of Land in Saisie IV. Express Private Trusts of Land V. Charitable Trusts VI. Purpose Trusts VII. Employee Benefit Trusts VIII. Unit Trusts 3. Trusts Arising by Operation of Law I. Introduction II. Constructive Trusts of Personalty III. Liability as a Constructive Trustee IV. Constructive Trusts of Land V. Conclusions 4. Taxation I. The Code of Practice II. Guernsey Tax Liabilities III. Liability to Non-Guernsey Taxes IV. Guernsey Charities V. Employee Benefit Trusts VI. Unit Trusts 5. Creation, Validity and Termination I. Existence of a Trust II. Principles of Construction III. Settlor IV. Formalities V. Duration and Perpetuities VI. Validity and Enforceability VII. Reservation of Powers by the Settlor VIII. Termination of Trusts 6. Conflict of Laws I. Introduction II. Proper Law III. Jurisdiction of the Guernsey Court IV. Firewall Provisions 7. Trustees I. Number of Trustees II. Appointment of New or Additional Trustees III. Power to Remove Trustees IV. Vesting of Property in the New Trustees V. Disclaimer of Trusteeship VI. Resignation VII. Duties of Outgoing Trustee VIII. Appointment and Removal of Trustees by the Court IX. Trustee Remuneration X. Trustees' Expenses XI. Trustees de Son Tort XII. Dealings with Third Parties XIII. Insolvent Trusts 8. Powers, Duties and Liabilities of Trustees I. Duties of Trustees II. Powers of Trustees III. Other Duties Applicable to the Exercise of Trustee Discretions IV. Letters of Wishes V. Liability for Breach of Trust VI. Duties of Prospective Trustees VII. Liability of Directors of Corporate Trustees 9. Beneficiaries I. Definition of 'Beneficiary' II. Addition and Removal of Beneficiaries III. Requirements for Beneficiaries IV. Disclaimer V. Nature of Beneficiary's Interest VI. Assignment of a Beneficial Interest VII. Protective Trusts and Spendthrift Provisions VIII. Class Interests IX. Consent to Breach of Trust X. Power to make Beneficiaries Indemnify XI. Disclosure of Information to Beneficiaries XII. Data Protection Law XIII. Disclosure to Third Parties XIV. Disclosure by Beneficiaries 10. Protectors I. Introduction II. Powers of Protectors III. Regulation of Protectors IV. Protector not a Trustee V. Nature of Protector's Powers VI. Appointment and Removal of Protectors VII. Protector's Indemnity VIII. Remuneration IX. Retirement X. Court's Jurisdiction in Relation to Protectors XI. Exoneration XII. Disclosure of Information XIII. Delivery Up of Documents XIV. Exercise of Powers XV. Liability XVI. Conflicts of Interest XVII. Prescription Period XVIII. Standing to Apply to Court XIX. Drafting Issues 11. Trust Investments I. Trustee's Investment Duties II. Regulatory Issues III. Delegation of Investment Management IV. Power to Direct Investments 12. Introduction to Trust Litigation I. The Jurisdiction of the Royal Court II. Applications for Directions III. General Powers of the Court IV. Application to Distribute Trust Assets in the Context of Anti-money Laundering Issues V. Approval of Trustees' Actions VI. Beddoe Applications VII. Payment of Costs in Relation to Court Proceedings VIII. Prescription and Limitation Periods IX. Breach of Trust Judgment against Trustee to be Binding on All Beneficiaries X. Alternative Dispute Resolution 13. Attacks on Trusts I. Introduction II. The Sham Doctrine III. Donner et Retenir ne Vaut IV. Variation of Trusts in Foreign Matrimonial Proceedings 14. Variation of Trusts I. Introduction II. Variation under the Express Terms of the Trust III. Variation by the Beneficiaries IV. Variation by the Court 15. Remedial Applications to Court I. Introduction II. General Principles Applicable to Rectification and Rescission III. Rectification on the Ground of Mistake IV. Rescission on the Ground of Mistake V. The Rule in Hastings-Bass 16. Regulation of Fiduciaries I. Background II. The Guernsey Financial Services Commission III. The Regulatory Regime for Professional Fiduciaries IV. Principal Offence V. Private Trust Companies VI. Types of Licences VII. Other Powers under the Fiduciaries Law 2000 VIII. Licensees' Obligations 17. The Public Trustee I. The Office of the Public Trustee II. Trusts in Respect of which the Public Trustee May Act III. The Functions of the Public Trustee IV. Regulation V. Appointment of the Public Trustee as Trustee VI. Supplementary Powers and Provisions VII. Appeals against Decisions of the Public Trustee VIII. Confidentiality IX. Limitation of Liability X. Public Trustee to Act Alone in Most Cases XI. Delegation XII. Remuneration