Testamentary trusts and the rule against capricious purposes: an underlying rationale?
Pawlowski, Mark and Brown, James (2012) Testamentary trusts and the rule against capricious purposes: an underlying rationale? Trust Law International, 26 (3). pp. 109-119. ISSN 0962-2624Full text not available from this repository.
The article examines the tension between two competing aspects of public policy, namely, the desire to avoid dispositions which have no useful purpose and the need to preserve the testator's freedom to dispose of his property as he wishes. The writers' conclusion is that the English, Scottish, Commonwealth and American case law demonstrates an underlying rationale for the rule against capricious purposes grounded in the notion that the law will not enforce testamentary trusts for private purposes which amount to an uneconomic and extravagant deployment of resources which either manifestly impair the economic interests of the beneficiaries and/or adversely impact on the community generally.
|Uncontrolled Keywords:||trusts, capricious purposes, private purpose trusts, testamentary freedom, public policy|
|School / Department / Research Groups:||School of Humanities & Social Sciences|
School of Humanities & Social Sciences > (UOA) Law
|Last Modified:||06 Nov 2012 14:41|
Actions (login required)