Trusts in Private International Law

In this study author analyzes the current status of regulatory system of trusts both on international and national levels and the practical applicability of trusts as basic elements of structuring of law relationships in modern circumstances. Author describes history of origin of trusts as a legal construction in common law system and provides information on different attempts of incorporation of trusts into continental law systems. Simultaneously author reviews definition and specific characteristics and elements of trust proposed by legislators and legal specialists. Author reviewed both international (especially Hague Trust Convention 1985) and national regulatory systems of trust (both in common law, where trust is a well-known and habitual construction, and in continental law, where trust is a kind of exotic. In third part of this study author analyzes particular examples of usage of trusts in structuring of particular legal relations on business (corporate structuring), property relation, inheritance, charity etc. In conclusion author decides, that trust remains relevant and demanded legal construction which is very useful in structuring of different types of legal relations despite difficulties in regulatory systems on international and national levels.