Professional LLM Specializing in Trusts Law

Course Descriptions*

 
Overview of the Law of Trusts [GSLaw 6951] [6 credits]
The purpose of this course is to introduce the trust concept. This course first deals with basic theories behind the trust concept. The course provides an historical introduction and a consideration of the principal purposes for which trusts are currently used, and then covers, at an advanced level, the following matters: attempts at defining the trust concept; the nature of the beneficiary’s interest; formation of express private trusts; basic principles governing the administration of express private trusts; revocation, termination and variation of trusts; personal and
proprietary remedies for breach of trust; resulting and constructive trusts; and charitable and non-charitable purpose trusts; comparative analysis with civil law
trust-like devices.

Trust Law in Context: Trusts in Commercial Settings

[GSLaw 6952] [4.5 credits]
It has been estimated that over ninety percent of assets held in express trusts are in business trusts as opposed to personal or family trusts. This course surveys the
bewildering range of uses to which trusts are put in commercial settings and seeks to address two fundamental questions: (1) is the business trust a sui generis concept? and (2) do (and should) traditional family trust concepts apply in all cases to business trusts? Topics include beneficiary liability under business trusts, third-party claims against the assets of business trusts and a consideration of certain statutory regimes for the creation and regulation of business trusts.

Selected Issues in the Administration of Trusts and Estates

[GSLaw 6954] [6 credits]
This course focuses on certain of the more difficult issues that arise in the administration of trusts and estates. Specific topics will include: trustee investment
powers and modern portfolio theory; the scope of permissible delegation by trustees; allocation of receipts and outgoings between income and capital beneficiaries; conflict of interest concerns for trustees; special problems raised by the trust-controlled corporation; the compensation and reimbursement of trustees; trustee liability and contribution and indemnity among trustees; the administration of
insolvent estates; and variation and termination of trusts.

Trust Law in Context: Uses of Trusts in Pension and Employee Benefit Arrangements [GSLaw 6955] [4.5 credits]
The use of trusts in the context of pension and employee benefit arrangements has grown rapidly. This course focuses upon the law of trusts in the context of the governance of private, employer-sponsored pension plans, and it also surveys the importance of trust law in the public pension system. Topics covered include: the statutory framework of public and private pension systems in Canada; the use of trusts as funding vehicles in pension arrangements; the interaction between trust law principles (the fund) and contract law principles (the plan) in pension arrangements; the relationship between the pension trustee and the plan administrator; trustee investment principles in the context of pension governance; and the use of trusts in other employee benefit arrangements.

Taxation of Trusts [GSLaw 6956] [6 credits]
The minimization of taxes of diff erent kinds is a key motivation for the creation of trusts, both in the traditional context of family estate planning and in the realm of business trusts. This course explores the taxation of testamentary and of inter vivos trusts of various kinds. Topics covered include computation of income, transfers of property to and from trusts, taxfree rollovers, the twenty-one year deemed realization rule and the taxation of non-resident trusts.

Law of Fiduciaries [GSLaw 6957] [4.5 credits]
This course explores the nature of fiduciary relationships. Topics covered include: the historical development of the law of fiduciaries; the relationship between trust law and the law of fiduciaries; the nature of fiduciary obligations; recognized categories of fiduciaries and the extension of these categories in recent times; the consequences of a breach of fiduciary obligations; and a comparative look at fiduciary or equivalent relationships in other jurisdictions.

*Curriculum and course descriptions are subject to change. New courses and course changes are subject to Senate approval.