Learning Outcomes:
Upon completion of this module students should be able to: Demonstrate an understanding of the development of the trust as a legal concept and explain the advantages offered by the trust structure as compared to other legal structures; Distinguish between different categories of trusts and explain and apply the relevant legal requirements surrounding their respective formation and operation; Critically analyse and summarise the various proprietary and personal remedies arising upon a breach of trust; Advise on the possible liability of trustees, beneficiaries and third parties partaking in various trust transactions and compare and contrast the approach of the Irish courts to those of their English counterparts.
Indicative Module Content:
Topics include: the formalities and essential elements for trust creation; the constitution of trusts, the presumptions applicable to different trust types and the substantive rules relating to the different types of trust. Types of trust covered include express private trusts, secret trusts, resulting trusts, constructive trusts, charitable trusts and purpose trusts. The module will also consider the appointment and removal of trustees, the duties owed by trustees in the course of trust administration and the personal and proprietary remedies available to beneficiaries in the context of breach, in particular the doctrine of tracing.