Changing circumstances have led to a bifurcation of functions
Over the last decade, trust law has undergone a transformative evolution. It's becoming commonplace for trust settlors to design so-called “directed trusts” and to transfer existing trusts to new jurisdictions to become modified as directed trusts. These trusts include provisions that allow for an advisor, co-trustee or other fiduciary to direct the trustee on how to exercise a variety of ministerial and discretionary responsibilities, such as investment decisions pertaining to all or a ...
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