Law Commission to look at modernising trust law in 13th programme of reform
The Law Commission have announced that trust law, leasehold and chancel repair liability will be among the projects they plan on exploring in the near future.
Yesterday, the Commission announced its law reform programme, setting out which areas of law would be looked at during the next three years; the consultation on this, they stated, received a record amount of feedback with over 1,300 responses.
The Commission has stated that its focus has been on reforms which will reduce unfairness for citizens, as well as those which will help to improve the UK international competitiveness.
Modernisation of trust law is one of the 14 areas the Commission are set to explore, with a view to improving the competitiveness of the jurisdictions’ trust services in a global market. The report highlights that the law surrounding trusts has not been reviewed comprehensively since 1925, in contrast to other jurisdictions such as Scotland and New Zealand.
Further, it has been acknowledged that whilst additional trusts and trust-like models have been developed in jurisdictions such as these, the same has not occurred in England and Wales.
Commenting on the response to the consultation and the areas of reform was Sir David Bean. The Law Commission Chair and Court of Appeal judge stated: “Our 13th Programme of Law Reform attracted unprecedented interest across a broad range of areas. The Commission has now refined these ideas into what I believe is a highly relevant and important series of law reform projects.
“We want to help tackle injustices by making the law simpler, clearer and fit for the future.
“We will also be making sure the law supports cutting edge technical innovation such as automated vehicles and smart contracts.
“Although we are operating in uncertain times, I am confident that our independence and ability to build consensus will help ensure that Parliament can take forward law reform in these areas.”
The full report can be accessed here.