Conclusion

• Author: Eileen E. Gillese, Martha Milczynski
• Pages: 181-183

181

CHAP TER 12

CONCLUSION

Trusts have been in exi stence for the past thousand year s because of

the convenience they offer in corporate/commercial life and because

people need tr usts in order to provide for those who are unable or un-

likely to prudently admin ister their own property. The wish for con-

venience and the desire to provide for those we love are pa rt of the

human condition, therefore trust law i s likely to remain a thriving are a

of law.

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

portant for the very 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 eq uity. As disc ussed in chapter

1, equity is characterized by f‌lexibility and considerations of fairness.

As equity and tr ust law are less r igid than the common law, they offer

a more responsive system of law. Equity and tr usts are concerned wit h

the behaviour of those who come to the court and ask for assistance;

thus, they are more concerned with wh at happens outside the court-

room than is the common law. Accessibilit y, however, is not something

that tr ust law c an read ily clai m. As the principles of trust law can not

be found in a code or legislation, to become knowledgeable about tr ust

law, one needs to read and study case law and legal l iterature. It is

hoped that this book will make trust law more accessible.

What changes will t he f‌ield of trust law undergo in the future? We

predict changes bas ed on two areas: business tr usts and pensions. Since