This is the fifth edition of the book that has appeared for the first time in 1992 as a relatively concise text, primarily aimed at students in the law of succession. In its successive editions the book has evolved into a more general source on the South African law of succession. Through its approach, presentation and systematic method the work remains ideal for use as a textbook in courses in the law of succession. The fifth edition again strives to provide the reader with a comprehensive overview of the different facets of the law of succession, in the light of recent developments that have affected this branch of the law.

This book comprehensively, yet succinctly, covers the use and administration of trusts in South Africa. It also serves as a useful reference to more detailed texts on the subject as well as to case law. Whilst the Trust Property Control Act 57 of 1988 sets out the minimum requirements when it comes to the formation and administration of trusts, other statutes (including the Income Tax Act, the Estate Duty Act, and the Alienation of Land Act) also have a direct bearing on how trusts are formed, administered, amended and terminated. Moreover, the common law has been a major factor in the development of trust law in South Africa. This book therefore not only deals with the legislation that is relevant to trusts, but it highlights and discusses the case law which has been an essential part of the development of the law of trusts.

Explore and understand the underlying principles of equity & trusts Equity & Trusts (Longman Law series), 4th Edition, by Sukhninder Panesar, conveys the principles of equity and trusts in an engaging manner. Key academic debates and theoretical aspects of the subject are considered throughout this book - equipping the undergraduate readers with an understanding of what the law is and why it is so. New to this edition: This edition has been fully updated with all significant legal developments in this area, including: The Court of Appeal in Group Seven Limited & Ors v Notable Services LLP (2019), examining the definition of dishonesty The decision in Lewis v Tamplin (2018), in the context of a beneficiary's right to inspect trust documents The Privy Council in Marr v Collie (2018), looking at whether a common intention constructive trust can arise in a commercial setting as opposed to a family domestic setting Donatio mortis causa the decision in Keeling v Keeling (2017) The Inheritance (Provision for Family and Dependants) Act 1975, the decision of the Supreme Court in Ilott v Motson (2017), considering the correct approach to determine the award for financial provision under the 1975 Act The decision in Santander UK v RA Legal Services (2014) and the decision in Dreamvar (UK) Ltd v Mischon de Reya (2018) This edition is also available as an Enhanced ebook to enrich your studying experience. It has features like self-assessment questions with dedicated feedback to help gauge your progress, deep links to key case reports, statutes & other sources of interest that provide access a wealth of wider reading, end-of-the-chapter quizzes that give further opportunity to consolidate understanding. Sukhninder Panesar is Head of Law at the University of Wolverhampton, with over 20 years of teaching experience. Pearson, the world's learning company.

At a time when Asia represents the fastest growing economic region, there is no better moment to consider what trusts law can contribute to societal stability and economic prosperity. This book does this by offering the first work that systematically explores trusts law across the region. Many Asian-Pacific jurisdictions have integrated and developed trusts law in their legal systems; either through colonial heritage or statutory activism. But the diversity of legal traditions and local contexts has resulted in trusts laws having a significantly varied impact across the region. In the modern globalised world there is growing need to adopt an outward looking approach in dealing with matters of common interest. This book answers this need by bringing together leading legal scholars and practitioners in the region to explore the theory and practice of trusts law, contextualised to specific jurisdictions in the Asia-Pacific. Exploring 17 jurisdictions in Asia, it bring both an academic and practitioner perspective to trusts law in the region.

In Patel v Mirza [2016] UKSC 42, nine justices of the Supreme Court of England and Wales decided in favour of a restitutionary award in response to an unjust enrichment, despite the illegal transaction on which that enrichment was based. Whilst the result was reached unanimously, the reasoning could be said to have divided the Court. Lord Toulson, Lady Hale, Lord Kerr, Lord Wilson, Lord Hodge and Lord Neuberger favoured a discretionary approach, but their mode of reasoning was described as 'revolutionary' by Lord Sumption (at [261]), who outlined in contrast a more rule-based means of dealing with the issue; a method with which Lord Mance and Lord Clarke broadly agreed. The decision is detailed and complex, and its implications for several areas of the law are considerable. Significantly, the reliance principle from Tinsley v Milligan [1994] 1 AC 340 has been discarded, as has the rule in Parkinson v College of Ambulance Ltd [1925] KB 1. Patel v Mirza, therefore, can fairly be described as one of the most important judgments in general private law for a generation, and it can be expected to have ramifications for the application of the illegality doctrine across a wide range of disciplinary areas. Unless there is legislative intervention, which does not seem likely at the present time, Patel v Mirza is set to be of enduring significance. This collection will provide a crucial set of theoretical and practical perspectives on the illegality defence in English private law. All of the authors are well established in their respective fields. The timing of the book means that it will be unusually well placed as the 'go to' work on this subject, for legal practitioners and for scholars.

Thinking about your death isn't easy, but it's even harder to consider the consequences of not thinking about it. Failing to execute a will or set up a trust could burden your heirs beyond just grief at your passing, leaving them to deal with your incomplete affairs as well.

Stephen L. Smith, a longtime attorney with thirty-five years of experience in estate planning, seeks to take the mystery out of what can often be an intimidating process. Using this guide, you can learn how to understand the differences between wills and trusts; evaluate attorneys and tax advisers; empower yourself to direct the planning process; and maximize the money and assets that get passed to others.

Whether you have a large estate or a modest one, it's important to engage in estate planning to make your wishes known. Take control of the process by arming yourself with the knowledge in "Taking the Mystery out of Estate Planning."

Winner of the second SLS Peter Birks Prize for Outstanding Legal Scholarship 2010. Fiduciary Loyalty presents a comprehensive analysis of the nature and function of fiduciary duties. The concept of loyalty, which lies at the heart of fiduciary doctrine, is a form of protection which is designed to enhance the likelihood of due performance of non-fiduciary duties, by seeking to avoid influences or temptations that may distract the fiduciary from providing such proper performance. In developing this position, the book takes the novel approach of putting to one side the difficult question of when fiduciary duties arise in order to focus attention instead on what fiduciary duties do when they are owed. The issue of when fiduciary duties arise can then be returned to, and considered more profitably, once a clear view has emerged of the function that such duties perform. The analysis advanced in the book has both practical and theoretical implications for understanding fiduciary doctrine. For example, it provides a sound conceptual footing for understanding the relationship between fiduciary and non-fiduciary duties, highlighting the practical importance of analysing both forms of duties carefully when considering fiduciary claims. Further, it explains a number of tenets within fiduciary doctrine, such as the proscriptive nature of fiduciary duties and the need to obtain the principal's fully informed consent in order to avoid fiduciary liability. Understanding the relationship between fiduciary and non-fiduciary duties also provides a solid foundation for addressing issues concerning compensatory remedies for their breach and potential defences such as contributory fault. The distinctive purpose that fiduciary duties serve also provides a firm theoretical basis for maintaining their separation from other forms of civil obligation, such as those that arise under the law of contracts and of torts.

A comprehensive, stimulating introduction to trusts law, which provides readers with a clear conceptual framework to aid understanding of this challenging area of the law. Aimed at readers studying trusts at an undergraduate level, it provides a succinct and enlightening account of this area of the law.
Concise and clear, this book also identifies and discusses many analytical perspectives, encouraging a deeper understanding of the issues at hand. It offers an outstanding treatment of specific areas, in particular remedial constructive trusts and trusts of family homes. Ideal for providing a broad background to the issues before embarking on an in-depth study of trusts, it can also be used to help the reader to develop their understanding. For those looking to challenge themselves, detailed footnotes highlight further issues and point the direction for future reading.
Fully revised to take into account the Charities Act 2006, judicial developments through case law, and recent academic work in this area, this new edition in the renowned Clarendon Law Series offers a well-written, careful, and insightful introduction to the law of trusts.

Virtually every jurisdiction is developing private international law rules to deal with trusts and similar ring-fenced structures. With the increasing impact of globalization, business interests throughout the world are intent on maximizing the potential of such structures for raising funds, lowering risks and cutting costs. As a result, numerous complex issues involving the traditional categories of settlor, beneficiary and fiduciary are being radically transformed. This text offers analyses, by 16 authorities in the field, of a broad range of trust-related issues. The many insights in this book reveal the workings of such issues as: the disappearing divergence between common law and civil law jurisdictions in the matter of trusts; using the segregated fund concept to manage the risk of insolvency; the demise of the "amateur trustee" in the charitable trust sector; why loss to the fund supersedes particular losses of beneficiaries; the legal dimensions of hiding ownership by "giving" property to trustees; the intervention of public policy in questions of perpetuity; the selective imposition of OECD and FTF transparency initiatives on offshore jurisdictions; and "policing" of trustee behaviour by beneficiaries. Lawyers, bankers and others dealing with investment and business finance should find much information as well as food for thought in this book, as should those involved in the traditional trust industry, whether as trustees or lawyers or fund managers. Most of the essays in this collection were originally prepared for presentation at a conference held in 2001 at King's College London.

This book centers on estate planning with code sections, regulations, court cases and experiences involved in estate planning. It was written over 5 years with excitement, pain, love and hate. It was designed for the regular person to understand because the Internal Revenue Code is not user-friendly, never was and never will be until Congress decides differently. While there are technical areas in this book, there is also an effort to explain those areas in everyday terms so the reader can easily get the point of estate planning. You must read the section on Being A Consultant - Absolutely Brutal!

The US tax and reporting rules applicable to foreign trusts - principally embodied as Subchapter J of the Internal Revenue Code of 1986, as amended - are notoriously complex. Now, with this volume, anyone who has to deal with these rules can find their use and meaning clearly explained, and proceed confidently to the best outcome in any situation where they apply. This guide covers all the following topics in detail: regular nongrantor (or accumulation) trusts of both the "simple" variety and the "complex" type with its challenging "throwback" rules and interest charge on accumulation distributions; the circumstances under which certain foreign trusts, such as section 672(f) (barring the application of the normal grantor trust rules to certain foreign trusts), section 643(h) (relating to distributions by certain foreign trusts through nominees), and section 643(i) (relating to loans from foreign trusts); reporting and penalty provisions and the accompanying IRS forms; and special issues, such as those surrounding incoming immigrants and outgoing expatriates. The book provides modified versions of the principal IRS forms (3520, 3520-A, 4970, 1040NR, and 1041) that are commonly filed for foreign trusts. These modifications, which scrupulously follow all applicable IRS rules, are much easier to use than the actual forms for the purpose of foreign trusts. Numerous examples throughout the book clarify the valid procedures and alternatives available at every point, a feature particularly useful in applying provisions that still await settled regulation and case law. Compliance issues that may arise on IRS audit are also examined. Professionals and advisors in law, tax, accounting, banking, and securities; settlers and beneficiaries; and students and academics both within and outside the United States should find this an informative and useful volume.

Landmark Cases in Equity continues the series of essay collections which began with Landmark Cases in the Law of Restitution (2006) and continued with Landmark Cases in the Law of Contract (2008) and Landmark Cases in the Law of Tort (2010). It contains essays on landmark cases in the development of equitable doctrine running from the seventeenth century to recent times. The range, breadth and social importance of equitable principles, as these affect commercial, domestic and even political matters are well known. By focusing on the historical development of these principles, the essays in this collection help us to understand them more clearly, and also provide insights into the processes of legal change through judicial innovation. Themes addressed in the essays include the nature of the courts' equitable jurisdiction, the development of property rights in equity, constraints on the powers of settlors to create express trusts, the duties of trustees and other fiduciaries, remedies for breach of these duties, and the evolution of constructive and resulting trusts.

Recent leading cases have demonstrated the urgent need to modernize the learning on breach of trust,which has lagged behind the flourishing scholarship on the creation of trusts. Since breach of trust or fiduciary duty occupies the centre of the legal stage, it comes as a surprise that, although one or two novelists have chosen 'Breach of Trust' as the title to their book, no lawyer has so far thought it necessary to produce a specialized work on the subject. To fill the gap, this book, written by a team of leading trust lawyers from a number of common law jurisdictions, investigates all the principal aspects of the subject. The nature of the trustee's duties and of the liability for breach is closely examined, and all available defences and excuses are reviewed. Two substantial chapters consider the consequences of assisting a breach or receiving trust property from a trustee acting in breach. The book closes with a critical overview of the entire topic. CONTENTS: 1 Robert Chambers 'Liability for Breach'; 2 Joshua Getzler 'The Duty of Care'; 3 Edwin Simpson 'The Conflict of Interest'; 4 David Fox 'Overreaching'; 5 Lionel Smith 'Property Transferred in Breach'; 6 Charles Mitchell 'Assistance'; 7 Peter Birks 'Receipt'; 8 James Penner 'Exemption clauses'; 9 John Lowry and Rod Edmunds 'Honest and Reasonable Breach'; 10 Jennifer Payne 'Consent'; 11 William Swadling 'Limitation'; 12 Gary Watt 'Laches, Estoppel and Election'; 13 David Hayton 'An Overview'.

The law of tracing is a complex subject which has struggled to find a home in works on property, equity, commercial law and restitution. Broadly speaking, it addresses the question of when rights held in an asset can be asserted in another asset despite changes in form or attempts to 'launder' the initial asset. Properly understood this area of study is composed of several distinct topics. This book explores all the areas covered by the law of tracing in a degree of detail not previously reached in more general works.

Sir Frederick Pollock wrote that 'English-speaking lawyers ...have specialised the name of Equity'. It is typical for legal textbooks on the law of equity to acknowledge the diverse ways in which the word 'equity' is used and then to focus on the legal sense of the word to the exclusion of all others. There may be a professional responsibility on textbook writers to do just that. If so, there is a counterpart responsibility to read the law imaginatively and to read what non-lawyers have said of equity with an open mind. This book is an exploration of the meaning of equity as artists and thinkers have portrayed it within the law and without. Watt finds in law and literature an equity that is necessary to good life and good law but which does not require us to subscribe to a moral or 'natural law' ideal. It is an equity that takes a principled and practical stand against rigid formalism and unthinking routine in law and life, and so provides timely resistance to current forces of extremism and entitlement culture. The project is an educational one in the true etymological sense of leading the reader out into new territory. The book will provide the legal scholar with deep insight into the rhetorical, literary and historical foundations of the idea of equity in law, and it will provide the law student with a cultural history of, and an imaginative introduction to, the technical law of equity and trusts. Scholars and students of such disciplines as literature, classics, history, theology, theatre and rhetoric will discover new insights into the art of equity in the law and beyond. Along the way, Watt offers a new theory on the naming of Dickens' chancery case Jarndyce and Jarndyce and suggests a new connection between Shakespeare and the origin of equity in modern law. 'This beautiful book, deeply learned in the branch of jurisprudence we call equity and deeply engaged with the western literary tradition, gives new life to equity in the legal sense by connecting it with equity in the larger sense: as it is defined both in ordinary language and experience and by great writers, especially Dickens and Shakespeare. Equity Stirring transforms our sense of what equity is and can be and demonstrates in a new and graceful way the importance of connecting law with other arts of mind and language.' James Boyd White, author of Living Speech: Resisting the Empire of Force 'Equity Stirring' is a fine example of interdisciplinary legal scholarship at its best. Watt has managed to produce a book that is fresh and innovative, and thoroughly accessible. Deploying a range of familiar, and not so familiar, texts from across the humanities, Watt has presented a fascinating historical and literary commentary on the evolution of modern ideas of justice and equity. Ian Ward, Professor of Law at the University of Newcastle upon Tyne. "this is an important, compendious, and thought-provoking work that should be on the shelves of everyone interested in equity studies." Mark Fortier, Law and Literature "there is much of interest to the legal historian...the book's insights and erudition did engage this rather sceptical reader, who would like to believe that equity could achieve justice, but fears rather that it can only be as fair as the court dispensing it." Rosemary Auchmuty, The Journal of Legal History "With luck, Equity Stirring will stir...taxonomic positivists from their culture of entitlement, waking them to the possibility that law and justice do not form the perfect quadration". Nick Piska, Social & Legal Studies "a highly imaginative, original and refreshing foray into the legal and ethical import of concepts too often thought to be difficult, archaic and obscure...Watt gives us a way into the subject which is forceful in its imaginative reach and its ethical import..." David Gurnham, Law, Culture and the Humanities