Abstract
Revision and modernization of trust legislation has been a global theme over the past few years, and implementation of this new legislation has been common across a number of jurisdictions: indeed, major common law jurisdictions such as the UK, Singapore, Hong Kong, and New Zealand, as well as offshore jurisdictions such as Bermuda and Jersey, have all explored and in many cases implemented initiatives for improvement and refinement of their own legislation to meet the needs of an evolving industry. The Cayman Islands now looks set to join these ranks, with the local Law Reform Commission issuing a Discussion Paper outlining the key areas of trusts law that it considers need fine-tuning and modernizing in order to meet the needs of the modern trust and trustee. Consultation and debate in the jurisdiction continue, but important changes may well be on the horizon.
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