Uploaded December 2022 | Updated September 2026, 2 weeks ago
BOOK REVIEW
EFFECTIVE TRUSTS
Minimising Disputes Through Design, Governance and Administration
Special Report
By Todd D Mayo and Kevin W Rethore
ISBN 978 1 78742 881 2
GLOBE LAW AND BUSINESS
globelawandbusiness.com
AN IN-DEPTH ANALYSIS ON THE CURRENT STATE OF PLAY ON EFFECTIVE TRUSTS
An appreciation by Elizabeth Robson Taylor MA of Richmond Green Chambers and Phillip Taylor MBE, Head of Chambers, Reviews Editor, “The Barrister”, and Mediator
We welcome this new, first-class report from Globe Law, on “Effective Trusts” written by Todd D Mayo and Kevin W Rethore. As the authors say, “trust disputes can be tremendously costly, in terms of legal fees, hiring experts and lost opportunity costs, as well as the costs attendant with the often emotionally charged atmosphere that can pit family members against one another”. That is why you need to read this report to minimize disputes through what the authors call “design, governance and administration”, or process and procedure as it might also be called.
Despite the high toll inflicted on litigants, issues of trusts litigation continue to increase around the world, both in the high number of matters being initiated and the amounts in controversy. Trust instruments have become increasingly important mechanisms in the management and transfer of wealth of various sizes, as prudent estate planning for the future remains a fundamental aim for the wealthy.
It is often said that preventing a fire is substantially less costly than fighting one! Too true! Therefore, identifying and appreciating the potential causes of a trust dispute can put the testator, trust officials and beneficiaries in the best position to prevent a dispute from developing or accelerating, prevention being better than a cure.
The new Globe report analyses, in seven short chapters. the cause of trust disputes. The authors explore the steps that testators, trustees, beneficiaries, and others can take during each stage of a trust’s lifecycle: that is, the design, execution, administration, and termination of the trust. The aim is purely to reduce the risk of sparking a dispute to avoid contentious and disputatious litigation. The advice given here is well supported by “real world experience and input from leading international trust practitioners, including estate planners, general counsel, and experienced trust litigators” in what is truly a global reality today.
The authors review key concepts including the following areas which may be of relevance to the professional adviser: thoughtful design of a trust’s governance; the incorporation of flexibility and adaptability into a trust structure; the need for constructive communication and engagement between fiduciaries and beneficiaries; the processes, practices and procedures trust officials should consider implementing in trust administration; and finally how trustees and beneficiaries can avoid adding fuel to the fire once a dispute arises (a most important area!).
Mayo and Rethore also discuss the benefits of involving different perspectives, including those of experienced trust litigators in what is always a contentious field. They look at various stages of the trust’s lifecycle and offer professional insights for the practitioner with insights into the measures and approaches both fiduciaries and beneficiaries should consider taking when a dispute first arises.
The beauty of this special report is that it contains real-world practitioner guidance, perspective, and insight on issues of critical importance to fiduciaries, trust officials and beneficiaries alike. In other words, this special report from Globe is essential reading, and it is! Thank you, Globe.
The date of publication of this new paperback special report from Globe Law and Business is cited as 5th November 2022.
BOOK REVIEW
EFFECTIVE TRUSTS
Minimising Disputes Through Design, Governance and Administration
Special Report
By Todd D Mayo and Kevin W Rethore
ISBN 978 1 78742 881 2
GLOBE LAW AND BUSINESS
globelawandbusiness.com
AN IN-DEPTH ANALYSIS ON THE CURRENT STATE OF PLAY ON EFFECTIVE TRUSTS
An appreciation by Elizabeth Robson Taylor MA of Richmond Green Chambers and Phillip Taylor MBE, Head of Chambers, Reviews Editor, “The Barrister”, and Mediator
We welcome this new, first-class report from Globe Law, on “Effective Trusts” written by Todd D Mayo and Kevin W Rethore. As the authors say, “trust disputes can be tremendously costly, in terms of legal fees, hiring experts and lost opportunity costs, as well as the costs attendant with the often emotionally charged atmosphere that can pit family members against one another”. That is why you need to read this report to minimize disputes through what the authors call “design, governance and administration”, or process and procedure as it might also be called.
Despite the high toll inflicted on litigants, issues of trusts litigation continue to increase around the world, both in the high number of matters being initiated and the amounts in controversy. Trust instruments have become increasingly important mechanisms in the management and transfer of wealth of various sizes, as prudent estate planning for the future remains a fundamental aim for the wealthy.
It is often said that preventing a fire is substantially less costly than fighting one! Too true! Therefore, identifying and appreciating the potential causes of a trust dispute can put the testator, trust officials and beneficiaries in the best position to prevent a dispute from developing or accelerating, prevention being better than a cure.
The new Globe report analyses, in seven short chapters. the cause of trust disputes. The authors explore the steps that testators, trustees, beneficiaries, and others can take during each stage of a trust’s lifecycle: that is, the design, execution, administration, and termination of the trust. The aim is purely to reduce the risk of sparking a dispute to avoid contentious and disputatious litigation. The advice given here is well supported by “real world experience and input from leading international trust practitioners, including estate planners, general counsel, and experienced trust litigators” in what is truly a global reality today.
The authors review key concepts including the following areas which may be of relevance to the professional adviser: thoughtful design of a trust’s governance; the incorporation of flexibility and adaptability into a trust structure; the need for constructive communication and engagement between fiduciaries and beneficiaries; the processes, practices and procedures trust officials should consider implementing in trust administration; and finally how trustees and beneficiaries can avoid adding fuel to the fire once a dispute arises (a most important area!).
Mayo and Rethore also discuss the benefits of involving different perspectives, including those of experienced trust litigators in what is always a contentious field. They look at various stages of the trust’s lifecycle and offer professional insights for the practitioner with insights into the measures and approaches both fiduciaries and beneficiaries should consider taking when a dispute first arises.
The beauty of this special report is that it contains real-world practitioner guidance, perspective, and insight on issues of critical importance to fiduciaries, trust officials and beneficiaries alike. In other words, this special report from Globe is essential reading, and it is! Thank you, Globe.
The date of publication of this new paperback special report from Globe Law and Business is cited as 5th November 2022.
