Having invented the trust, England has seen its influence over wealth planning wane as thrusting offshore centres have developed their models. JDG Chambers asks how long English law can remain relevant in a rapidly globalising market
Though it proved a good deal less celebrated, England invented the trust, much like it invented football. Each set of rules spread across the world, being picked up and modified by other countries overseas. In the case of football, it has been adopted most devoutly by the Brazilians and the Italians, to such an extent that the English Football Association (FA) could never claim to set the rules for the game any longer. In the case of the law of trust, it is the offshore jurisdictions that are threatening to run away with the ball.
