Geoffrey Cone, Claudia Shan and James Gribbin review the recent New Zealand judgment in Re PV Trust Services Ltd on obtaining the court’s blessing without sacrificing discretion
The release of a select committee report on the Trusts Bill (the Bill) from the New Zealand Parliament1 has caused some concern, primarily due to its provisions covering the disclosure of information to beneficiaries. Since the mid-1950s, trust law in New Zealand has been left to develop through the courts. Case law has produced an […]
Traditionally a civil law concept, the use of foundations as wealth management and succession planning vehicles is gaining popularity in common law jurisdictions. Wyoming is the second state in the USA to adopt common law foundation legislation that will allow for the formation and administration of statutory foundations. The Wyoming Statutory Foundation Act, effective 1 July 2019, combines elements of well-established trust and corporate law in Wyoming with classical elements of foundation legislation found in civil law jurisdictions, while also providing access to Wyoming’s privacy and asset preservation laws.
In this 15th anniversary issue of ‘Private Foundations: A World Review’ the Editor herself establishes an assessment and highlights the most important topics and articles that have over the past 15 years engaged the interest of trust and
foundation practitioners alike. With a view to the Swiss initiative to introduce the trust in its civil law legal order, the Editor reflects on the experiences made by the Principality of Liechtenstein, a civil law country that went through the same exercise 93 years earlier than Switzerland and in this respect also looks at the position of common law countries that have introduced the civil law concept of a private foundation.