Trust Administration Research Articles

Choose the Right Fiduciary for Administration Of Charitable Trusts and Estates

Choose the Right Fiduciary for Administration Of Charitable Trusts and Estates

위탁자의 신탁부동산에 대한 소유권이전등기청구권

Under the collateral trust the trust property is disposed according to the terms of trust and then the party concerned has the right to claim the registration of transfer of ownership. When the settlor has a remainder, he can have the right as an beneficiary. But his right arises only if the debtor di scharges the outstanding balance on the loan to the superior beneficiaries, the creditors. The compulsory execution against this future conditional right and the provisional disposition with regard to it is possible. But the feasibility depends on whether the debtor di scharges his obligation or not. However in all the other cases the settlor does not have the right, so the disposition of trust property itself is irrelevant to his property('patrimoine') and his creditors. When the collateral trust is settled in connection with real estate development business and the settlor as a developer enters into a sale contract regarding the real estate belonging to the trust property, he is authorized to dispose under the terms of trust. The trustee is now under an obligation to transfer the ownership registration to the buyer, because he is the legal owner of the real estate, not the party of the sale contract. The ownership of the real estate transfers directly from the trustee to the buyer. In this instance the settlor does not have the right to claim the registration of transfer of ownership which belongs to his property. This kind of disposition corresponds to the terms of trust and should be regarded as if the trustee himself disposed it. While it is the proper administration of trust and the trust property separates from the trustee's own as well as settlor's, there is no reason that the trustee is liable for torts against the creditors of settlor.

Trustee powers—observations from Australia

Abstract Much of the current and future intergenerational wealth transfers in Australia is and will be through discretionary family trust structures and testamentary trusts. The number of disputes in relation to the administration of these trusts will very likely increase. This article provides a general overview of some specific aspects of trust administration and trustee powers and obligations in Australia, including adding and removing beneficiaries, decanting trust assets, provision of information to beneficiaries, fettering of discretions and avoiding or resolving disputes in relation to the exercise of those powers.

Analysis of trust instrument in Islamic estate planning: a study case at Amanah Raya Berhad, Malaysia

PurposeThis study aims to analyse the mechanism of trust instrument from a Shariah point of view. Analysis of the mechanism would determine the extent to which its implementation can resolve estate planning issues such as frozen estate and the issue of naming beneficiaries under the age of 18.Design/methodology/approachThis is a qualitative study method through library research. To explore the mechanism of trust instrument, an in-depth interview with five participants using purposive sampling and analyses of documents were used. The selection of this sample allows the researcher to obtain specific data in their field of expertise. Therefore, two officers from the Trust Administration Department of Amanah Raya Berhad (ARB) and three Shariah advisors from ARB (MPS ARB) were interviewed to find out the mechanism of trust instrument from the Shariah perspective. The researcher also referred to the trust deed documents, ARB company policies, field case studies such nomination cases and trust accounts, articles and court cases.FindingsThe trust instrument meets Shariah requirements even though it is based entirely on the Civil Law. The comprehensive and flexible features of trust deeds can help donors to plan systematically during their lifetime.Research limitations/implicationsThis study only focuses on the trust instruments that are currently being implemented in the ARB. Five trust products were analysed to achieve the objectives of the study, namely, the Normal Trust, Safecare and Safecare Premium, Takaful Care, Hibah (literally “gift”) as well as Trust and Declaration of Hibah.Practical implicationsThe implementation of trust instrument at an early stage can ensure the property is well managed through a trust deed, guarantee the life of the beloved heirs after the death of the donor and prevent the property from being frozen.Originality/valueThis study comprehensively describes the trust instrument from the Shariah perspective and its implementation mechanism in the industry.

Energy Based Random Repeat Trust Computation in Delay Tolerant Network

As the use of mobile devices continues to rise, trust administration will significantly improve security in routing the guaranteed quality of service (QoS) supply in Mobile Ad Hoc Networks (MANET) due to the mobility of the nodes. There is no continuance of network communication between nodes in a delay-tolerant network (DTN). DTN is designed to complete recurring connections between nodes. This approach proposes a dynamic source routing protocol (DSR) based on a feed-forward neural network (FFNN) and energy-based random repetition trust calculation in DTN. If another node is looking for a node that swerved off of its path in this situation, routing will fail since it won’t recognize it. However, in the suggested strategy, nodes do not stray from their pathways for routing. It is only likely that the message will reach the destination node if the nodes encounter their destination or an appropriate transitional node on their default mobility route, based on their pattern of mobility. The EBRRTC-DTN algorithm (Energy based random repeat trust computation) is based on the time that has passed since nodes last encountered the destination node. Compared to other existing techniques, simulation results show that this process makes the best decision and expertly determines the best and most appropriate route to send messages to the destination node, which improves routing performance, increases the number of delivered messages, and decreases delivery delay. Therefore, the suggested method is better at providing better QoS (Quality of Service) and increasing network lifetime, tolerating network system latency.

Settlements of property for persons lacking capacity: principles, practices, and problems

Abstract The settlement of property for persons who lack capacity under the statutory powers conferred by mental health legislation requires courts and practitioners to have a firm understanding of the fundamentals of trust law as well as a clear appreciation of the administration of trusts in practice. This article considers, making reference to recent case authority from England and Hong Kong, the following aspects of the issue: (i) whether there is any presumption or starting point under the statutory regime in favour of appointing deputies rather than establishing trusts; (ii) the factors that should be considered by the courts in deciding whether to establish trusts for persons lacking capacity; (iii) whether and to what extent trusts have a role to play in solving or reducing any perceived resource deficit in the supervisory machinery established under the statutory regime; and (iv) difficulties encountered with complex trusts.

A number of legal principles have been reaffirmed in relation to section 47 applications arising from In The Matter The XYZ Trusts

Abstract In The Matter The XYZ Trusts is an important case because it confirmed a number of very useful legal principles. In relation to applications pursuant to section 47 of the Bermuda Trustee Act 1975, it confirmed that such applications may be used in series for the blessing of various stages of a large transaction, the test to be used when asking for the blessing of a momentous decision and that in relation to the variation of a trust it will not create a new settlement. Finally, it confirmed the Bermuda Court’s willingness to issue confidentiality orders in cases involving the administration of private trusts.

Natural justice and the Court’s supervisory jurisdiction

Abstract The Court’s supervisory jurisdiction over the administration of trusts is a cornerstone of the law and well known to practitioners. However, although there are countless decided cases in which Courts around the common law world have made decisions and exercised powers that have their footing in the supervisory jurisdiction, and the topic is addressed in detail in Daniel Clarry’s excellent “The Supervisory Jurisdiction over Trust Administration”,1 there is surprisingly little consideration in the authorities of the juridical foundation of the jurisdiction and the ways in which the role of the Court differs from that played in ordinary adversarial litigation. One point that has not, until recently, been considered in the decided cases is the extent to which rules of natural justice apply when the Court exercises its supervisory jurisdiction and in particular whether a trustee has a right to be heard prior to being removed. The purpose of this article is to consider this issue and the Court of Appeal of Bermuda’s recent decision in St. John’s Trust Company (PVT) Ltd v Medlands (PTC) Ltd.2

Secure IoMT Pattern Recognition and Exploitation for Multimedia Information Processing using Private Blockchain and Fuzzy Logic

The Internet of Medical Things (IoMT) is a definite IoT connecting atmosphere that contracts with communication via intelligent medical equipment. Activity detection, motion tracking, information extraction, consumer retrieval, etc., have all been solved due to advances in the autonomous study of human behavior from multimedia information processing. Though the IoT connecting atmosphere enables and provisions our daily actions, it too has certain disadvantages. IoTgrieves from numerous safety and confidentiality challenges, such as reiteration, impersonation, man-in-the-middle, remote hijacking, privileged-insider attack, denial of service (DoS) attacks, password guessing, and malware bouts. Hence, in this paper, Private Blockchain and Fuzzy Logic based Attack Detection system (PBFL-ADS) has been proposed for secure IoMT disease prediction using Multimedia Information Processing techniques. The proposed method utilizes Bayesian inference-based trust administration to perceived malevolent nodes in Health Smartphone Structures (HSS) for PBFL-ADS. This paper focuses on the specific form of IoMT called HSS because smartphones have been widely used in the healthcare profession. Then, blockchains have been utilized to improve Bayesian trust management's efficacy in detecting hostile nodes in HSSs. The effectiveness of the suggested technique has been assessed, and test results show that blockchain technology helps identify fraudulent nodes with an acceptable workload. The proposed PBFL-ADS method increases the HS2 scenario 1.1, processor utilization at nodes 33.5%, pattern recognition ratio 92.1%.and server utilization 40.1%.

Assessment of challenges and problems in supply chain among retailers during COVID-19 epidemic through AHP-TOPSIS hybrid MCDM technique

Framework and objectivesCOVID-19 epidemic has sparked concern and has elevated the need for therapeutic tools, health equipment's, and day-to-day necessities for healthcare workers' well-being. The goal of this study is to uncover the operational problems that suppliers encounter when it comes to offering effective services. The research also intends to offer an Industry 4.0 strategy for reducing COVID-19's effect. The problems are weighed and priority is assigned by multi-criteria decision making to identify the most essential parameter which impacts the suppliers. MethodsA comprehensive literature assessment on the rampant eruption of COVID 19 and supply chain is conducted with the aid of literatures available on SCOPUS, Science Direct, and Google Scholar using appropriate keywords. To get further insights, certain pertinent and applicable industry reports and blogs are also used. Problems were analysed with AHP method and priority was assigned by technique for order performance by similarity to ideal solution (TOPSIS). Weights are calculated by AHP method and assigned to each criteria attribute. ResultsWe recognized eleven key problems that serve as an operational obstacle in the retail industry and proposed the use of Industry 4.0 technology to address them. The contemporary study is accomplished by using hybrid combination of two Multi Criteria Estimators methods- Analytical Hierarchical Process (AHP) and Technique for Order Preference by Similarity to Ideal Solution (TOPSIS). Further, the most significant problem comes out to be Maintenance of an appropriate balance among supply and demand followed by Lack of Viability. Key findingsPrioritization of supply chain problems are arranged in descending order Maintenance of an appropriate balance among supply and demand ​> ​Lack of Viability ​> ​Absence of government funding ​> ​Lack of access ​> ​Absence of Confidence ​> ​Scarcity of work force ​> ​Lack of security and safety ​> ​Deficiency of surplus medical amenities ​> ​Consumer attitude ​> Absence of Supply Chain flexibility ​> ​Communication problems. ConclusionIn order to combat the pandemic, Industry 4.0 can play a key role in lowering the effect of identified issues on retailers. For the successful administration of healthcare basics, trust and openness are required. To enhance services, suppliers, distributors and policy makers should make informed decisions during COVID-19 and other comparable events. Therefore, suggested guidelines and framework will offer upcoming directions for research in fields of pandemic check, business logistics management, and catastrophe administration. Balance in supply and demand is the most significant attribute as its percentage contribution is the maximum (27.52%) followed by Safety of employees (26.51%). Furthermore, the research then ranks these models on the basis of their attributes with the aid of TOPSIS. Among all these problems, Maintenance of an appropriate balance among supply and demand and lack of viability are identified as the prime most and common concern for retailers in supply chain management during the COVID-19 pandemic.

Experts and pretenders: Examining possible responses to misconduct by experts in criminal trials in England and Wales

Much academic literature explores the reliability of expert evidence in criminal proceedings in England and Wales. However, almost no attention has been paid to misconduct by experts giving evidence in criminal cases. Whilst rare, its serious impact on the administration of justice and public trust in it means that this area requires analysis. This article explores possible responses to expert witness misconduct occurring in the context of criminal proceedings in England and Wales, noting particularly the differences in responses available, depending firstly upon whether the expert is a registered professional, and secondly whether the expert has stepped outside of their expertise; did not have relevant expertise at all, or was dishonest. Professional disciplinary procedures focus on ‘fitness to practise’, and it is argued that this is sufficient where a registered professional has overstepped their expertise, but has not displayed mala fides. On the contrary, where someone gives evidence purporting to have expertise that they do not, or lies about their conduct as an expert in the case, criminal sanctions are available, appropriate, and should be used. These include contempt of court; perverting the course of justice; fraud by false representation, and perjury.

The Supervisory Jurisdiction over Trust Administration

The Supervisory Jurisdiction over Trust Administration

Collaborative Governance in Batangas, Philippines: A Manifestation of the Implementation of SALINTUBIG (Sagana at Ligtas Na Tubig Para Sa Lahat) Program

For the past decades, collaborative governance has evolved as a substantial concept and method of yielding outcomes to the research and literature of various scholars. It is also a practical and innovative way of governance wherein different stakeholders share a common goal in pursuing a collective action. At the very core, this study focuses in ‘collaborative governance’ as a manifestation of the implementation of SALINTUBIG (Sagana at Ligtas na Tubig Para Sa Lahat) program in the province of Batangas, specifically in the municipalities of Balayan, Lemery, and Tuy. The SALINTUBIG program is a pro-poor initiative of the central government of the Philippines providing water supply systems with priority given to waterless areas and enhancing their local capacities in the planning, implementation, operation, and management of water services. The program is jointly implemented by national institutions such as the National Anti-Poverty Commission (NAPC), Department of Health (DOH), Department of Interior and Local Government (DILG), Local Water Utilities Administration (LWUA), in collaboration with the local government units (LGUs) and the citizens. The study has utilized Thomson and Perry’s Antecedents-Process-Outcome Framework (2006) which presents the collaborative process in five dimensions: governance, administration, organizational autonomy, mutuality, and norms of trust and reciprocity. The framework has highlighted the stakeholders of the SALINTUBIG program that operates in the collaborative process. Based on the findings and analysis concluded through the key-informant interviews, surveys, and legal documents from the stakeholders, the collaboration of the national agencies and LGUs of Batangas has been effective in terms of the following: provision, rehabilitation, and enhancement of water supply system; accountability and transparency on the operation; joint decision-making process of the involved institutions; and commitment to the SALINTUBIG program.

Feasibility and Sustainability of Community Based Health Insurance in Rural Areas Case Study of Musana, Zimbabwe

The Zimbabwe Demographic Health Survey (ZDHS 2010-11) showed that only 6 percent of the population is covered by health insurance in Zimbabwe. This study investigated the feasibility, acceptability and sustainability of Community Based Health Insurance (CBHI) as an alternative to pooling risk and financing social protection in Zimbabwe. Willingness to Pay (WTP) for health insurance and socioeconomic data were collected through interviews with 121 household heads selected using a 2-stage sampling procedure on 14 villages in Musana and Domboshava rural areas, a population which is largely unemployed and reliant on subsistence agriculture. A CBHI scheme was established and followed up for 3 years documenting data on visits made, financial contributions from recruited households and their actual health expenditures. Findings indicate that CBHI is generally accepted as a means of health insurance in rural communities. The median willingness to pay for health insurance was $5.43 against monthly expenditures ranging of up to $180. The low WTP is attributable to low incomes as only 3.4 percent of the respondents relied on formal employment. Trust issues, adverse selection, moral hazard, and administration costs were challenges threatening sustainability of CBHI. A financial gap averaging 42% was generally on a downward trend and was closed by the end of the follow-up study as contributions were equivalent to medical expenses. We conclude that CBHI is feasible, has potential for sustainability and should be considered as a springboard for the planned Zimbabwean National Health Insurance.

The origins and scope of the court’s inherent jurisdiction to supervise, and if necessary to intervene in, the administration of trusts

The origins and scope of the court’s inherent jurisdiction to supervise, and if necessary to intervene in, the administration of trusts

Recent developments in the law and administration of trusts in New Zealand

Recent developments in the law and administration of trusts in New Zealand

공익신탁 활성화를 위한 입법 · 정책적 과제

Charitable Trust Act was enacted on 18th of March 2014 and the Act was enforced since 19th of March in order to contribute to spreading donation and sharing culture by raising the public’s trust for charitable trust. Charitable trust is a trust which operates for the purpose of public services, and it must receive approval from the Minister of Justice. In the past 8 provisions related to charitable trust were provided in the Trust Act. However, in the Trust Act there were no specific criteria for setting up and managing charitable trust, so it has been pointed out continuously that current trust law does not correspond to the needs of the times like activating donation culture. For this reason a separate law was enacted. First of all Charitable Trust Act unifies the authority for administering and overseeing the charitable trust as Minister of Justice, and changed previous license system into an approval system. Also, it introduced system of public announcement and prepared several ways to improve transparency of charitable trust including requiring external audit for the charitable trust which amounts to the asset of more than 10 billion won. Until today, the number of charitable trusts that received approval from the Minister of Justice is 25 and among them there are 3 charitable trusts amounting to more than 10 billion won that is under the subject of external audit after the Charitable Trust Act was enacted. The problem is that among 25 charitable trusts that received approval, there are only 4 cases in which trust assets are actually delivered trust property to public services, and other charitable trusts only accumulate fund and don’t carry out the public services.<BR> Hereupon in this dissertation the problem of charitable trust policy was analyzed and suggested a legislative policy assignment to overcome. Firstly, regulation on active administration and execution of charitable trust must be prepared. Sanctions must be prepared when an assignee of charitable trust does not administer or manage funds. Also, the ways have to be examined to relax regulation so that charitable trust can be used for various purposes. Secondly, I suggest establishing a committee for public interest. In order to activate charitable trust and to oversee and administer the management of charitable trust properly, not only professional independent organization is needed, but also single regulatory authority is needed in order to obtain fairness of regulation in various public interest activities such as public service corporation, crowd funding and to reduce redundant regulations. Through these policy changes, I hope that the charitable trust can contribute to public service that meets the initial legislative purpose.

Wildlife governance in the 21st century—Will sustainable use endure?

ABSTRACTIn light of the trajectory of wildlife governance in the United States, the future of sustainable use of wildlife is a topic of substantial interest in the wildlife conservation community. We examine sustainable‐use principles with respect to “good governance” considerations and public trust administration principles to assess how sustainable use might fare in the 21st century. We conclude that sustainable‐use principles are compatible with recently articulated wildlife governance principles and could serve to mitigate broad values and norm shifts in American society that affect social acceptability of particular uses. Wildlife governance principles emphasize inclusive discourse among diverse wildlife interests, which could minimize isolated exchanges among cliques of like‐minded people pursuing their ambitions without seeking opportunity for sharing or understanding diverse views. Aligning governance practices with wildlife governance principles can help avoid such isolation. In summary, sustainable use of wildlife is likely to endure as long as society 1) believes the long‐term sustainability of wildlife is not jeopardized, and 2) accepts practices associated with such use as legitimate. These are 2 criteria needing constant attention. © 2017 The Wildlife Society.

Statutory discretion or common law power? Some reflections on “veil piercing” and the consideration of (the value of) trust assets in dividing matrimonial property at divorce – Part Two

Although it is an entrenched principle of company law that the abuse of corporate personality may require the “corporate veil” of a company to be “pierced”, this possibility has only recently become a feature of South African trust law. While this is a salutary development in theory, the application and practical usefulness of this remedy remain shrouded in uncertainty. A particularly acute manifestation hereof arises where it is argued that (the value of) trust property should be considered for the purposes of dividing matrimonial property at divorce. By drawing on the established principles of “piercing” in the company context and analysing relevant case law, Part One of this article (that appeared in the December 2016 issue of this journal) concluded that the prevailing position in respect of trusts neither accords with the principles of proper trust administration nor gives effect to the legal obligations imposed on divorcing spouses by matrimonial property law. More specifically, it was argued that, while piercing the trust veil is a power that is derived from common law (as opposed to legislation), the actual exercising of this power in a divorce context is dependent on a nexus provided by the matrimonial property regime in question. From this platform, Part Two of the article provides perspectives on how the property of an abused trust should be dealt with in divorces involving the three major matrimonial property regimes that are recognised by South African family law. Potential litigation based on these contentions should contribute towards rectifying the unsatisfactory legal position that prevails.

Liability of the Parties to the Estate Trust Agreement

The estate, which includes equity rights, securities, intellectual property rights, real estate, is often requires the introduction of trust administration until the heirs inherit. The rules on estate trust administration refer the enforcer to the general provisions of Chapter 53 of the RF Civil Code, designed primarily for business relations. However, the specific nature of the trust administration does not allow us to apply general provisions on the liability of the parties to the trust agreement, which leads to insecurity of the participants to the estate trust agreement. Due to the nature of the estate trust agreement, the notary, as a trustor, must not and cannot be liable for the debts arising in connection with the performance of their obligations under the estate trust agreement. At the same time, in practice, it would be difficult to find a citizen willing to perform trust agreement for a stranger's estate within several months, provided that often he is not a professional but still bears unlimited liability for the debts arising out of the trust agreement to third parties and beneficiaries. The absence of opportunities to lay risks of loss on the estate directly enshrined in the legislation, as well as providing the beneficiaries only with a right to bring a claim against the trustee and an opportunity to offer and sometimes insist on the candidature of the trustee, excludes the efficient estate trust. Irrational decisions laid down in legislative regulation of rules on liability for the obligations of the trustee that arose under the trust agreement does not allow direct and reliable protection of the interests of beneficiaries and the provision of the protection of the notary's estate. In our view, there is a need to bring the law into conformity with the actual circumstances of judicial and notarial practice, to protect the interests of beneficiaries and ensure the protection of the estate of the scope of the notary.