Thursday, February 28, 2019
Mark Leeming published an Article entitled, 'Chameleon-Hued Words': A Note on Discretionary Trusts, Wills, Trusts, and Estates Law eJournal (2015). Provided below is an abstract of the Article.
This note seeks to identify some recurring misunderstandings and sources of imprecision in legal analysis involving trusts and, more particularly, discretionary trusts. It directs attention to the facts that the trust is a relationship, not a legal person, that the trustee will be personally liable although ordinarily with a right to recourse to trust assets, and that the term “discretionary trust” is descriptive, rather than normative, and is often used in quite different senses.