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Jersey sets trustee trend

After showing a willingness to evolve its trust law, other IFCs look set to follow Jersey's lead, says Geoff Cook

23 December 2013

As any budding legal student will tell you, the concept of the trust emerged in England during the Crusades as a means of ensuring that the promises of departing knights were properly honoured by those to whom they entrusted their property.

Perhaps less well-known is that Jersey, despite having its legal roots in French civil law (or maybe because of it), placed a skilfully drawn codification of English trusts law into its statute in the mid-1980s. The Trusts (Jersey) Law 1984 quickly became the envy of other jurisdictions and has since become something of a model law, emulated time and time again by jurisdictions around the world.

Traditionally, trust formation and management have been something of a mainstay for Jersey's financial services industry. The jurisdiction also has a wel...

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