Conclusion

• Author: EILEEN E. GILLESE
• Pages: 193-194

193

CHAPTER 12

CONCLUSION

Trusts have been in existence for the past thousand years because of

the convenience they offer in corporate/commercial life and because

people need trusts in order to provide for those who are unable or

unlikely to prudently administer their own property. The desire for

convenience and to provide for those we love is part of the human

condition; therefore trust law is likely to remain a thriving area of law.

In my view, it is likely that trusts will become increasingly im-

portant for the same reason that the legal system itself is undergoing

change: the demand that law become more relevant, more responsive,

and more accessible. Trust law is part of equity. As discussed in Chap-

ter 1, equity is characterized by f‌lexibility and considerations of fair-

ness. Because equity and trust law are less rigid than the common law,

they offer a more responsive system of law. Equity and trusts are con-

cerned with the behaviour of those who come to the court and ask for

assistance; thus, they are more concerned with what happens outside

the courtroom than is the common law. Accessibility, however, is not

something that trust law can readily claim. As the principles of trust

law cannot be found in a code or legislation, to become knowledgeable

about trust law, one needs to read and study caselaw and legal litera-

ture. It is hoped that thi s book will help make trust law more accessible.

In the f‌irst edition of this book, I predicted that pension trusts

would cause the f‌ield of trust law to undergo serious reconsideration

and change. This has, in fact, come to pass. Pensions in modern times

are most often funded by means of trusts. As Canadian society ages

and the level of government assistance for seniors decreases, pensions

assume a greater importance. This has increased the tension between

those who offer and administer pensions and those who receive them.

Often, a great deal of money is at stake. In such circumstances, the