| The Law and Analysls of Off shore Trust Information Management"This dissertation is an analysis of the law that applies to informationmanagement of off shore trusts and is' the product of the author's exten-sive practical exPerience. The paper not only exaAnnes the law of Trustsbut also includes a study of "The HagUe Trust Convention" upon whichthe procedural law of off shore trusts is based. It covers the Legal aspectsthat should be addressed in the preparation of Trust documents as well asthe management of trust information.This dissertation can be divided into three sections. Section One contains a theoretical study of off shore trusts, while the other two sectionsexamine the documentation and adthenistration which are reqired.In its theoretica1 discussion of Trust law, Section One has the fo1-lowing parts: Chapter One reviews the concepts of Tust law, Which arethe foundation of off shore trusts and exafornes the relationship betweenCivil Law and Trust Law. Chapter Two focuses on the internationalrecognition of offshore trusts. It presents the background, context andthe form of "The Hague Trust Convention" which governs the procedura1law of off shore trusts.Scetion Two exathenes the construction and legal effect of the TrustInstrument;the Trust Deed. Chapter One analyses the legal effect and re-quirements of the Trust Deed. Chapter Two reviews the nature of trustproperty and contains a comPrehensive discussion of the relationships a-mong the settlor, the trustee, the beneficiary and the protector. Thechapter illustrates how uncertairity and comPlications can be resolved bythe proper Trust Deed. Chapter Three systeAnzes the clauses of a TrustDeed. The first part is the general clause which constructs the Trust.The second part contains the specific clauses which have particular func-tions. The thurd part also contains a discussion regarding the "letter ofwishes ". It concludes with a presentation of the author's consederable.. 1experience in working wtth Trust Deeds.Section Three forms the core of the thesis and presents a comPrehensive practica1 framework to be applied to infOrmation management in thecontext of both Trust Law and Private International Law. The comPo-nent parts of the framework ane the acquisition, use, confidentiality anddisclosure necessary in the creation of a trust.Chapter One contains an introduction and analysis of the trends,character and liabilities incurred in the management of off shore trust information. It exandnes the equitable duties imPosed on a trustee such asthose concerning the acquisition, disclosure and use of trust information.Chapter Two provides an in--depth discussion of the trustee's dutiesregarding the acquisition of trust information as well as a discussion ofthe followtng questions: What information is the trustee obliged to ac-quire? Can the trustee safely re1y on others to furnish the information re-quired by the trustee? What are the trustee's duties of supervision Whenthe trustee must delegate? To what extent must the trustee keep him orherself informed about the activities of the delegate? When a new trustee..is appointed, how much is the trustee required to inform him or herse1f ofthe powers and obligations of a trustee? What is the due considerationmust be given to the settlor's circumstances and motives?Chaper Three deals with the rules which restrict the right of atrustee to use trust information. Can the trustee use information receivedin relation to one trust for the benefit of another trust? The trusteeshould bear in Annd that cornmrcially sensitive information given to himor her by the settlor or anyone else might be the result of an abuse Offiduciary duty in the part of that other person- Chapter Four is a legalanalysis of the duty of confidentiality of trustees. It exathenes the basisand rules of that duty and the statutory support for it.Chapter Five deals with the development of... |
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