Abstract
A speech given at the Anniversary Dinner of the Governors of George Heriot's Trust on Founder's Day (2 June) 2014. The suggestion made is that the Heriot Trust set up in 1623-4 was the first trust ever set up under Scots law, and accordingly it was fortified by the appointment of overseers whose duty it was to see that the trustees (the Town Council of Edinburgh) carried out George Heriot's wishes as expressed in his trust. Such protectors ceased to be necessary as the consequences of breach of trust became clear as a matter of law. But now the Scottish Law Commission is suggesting their re-introduction in a world where many trusters have no idea of who their trustees actually are and about whether they can in fact be trusted.
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