Friday, January 8, 2021
Jessica Hudson recently published an article entitled, Mere and Other Discretionary Objects in Australia, Wills, Trusts, & Estates Law ejournal (2020). Provided below is the abstract to the Article.
This Chapter draws on the Australian experience of discretionary trusts to show that a mere object, and an object from an open class of an exhaustive power, do have a right to due administration. This Chapter will explain that the Australian position is an outcome of that jurisdiction’s conception of the essential feature of an express trust and its recognition of discretionary powers that have the effect of suspending an entitlement to the benefit of trust property. The Chapter will go on to address the risk of the opportunistic object, and explain why the object’s right to due administration is consistent with the beneficiary principle as an expression of the basic imperative that a legal relationship must be constituted by more than one legal person.