The Trust as More than a Common Law Creature

Until recently, it has been a truism that the trust is a creature of the common law system. A challenge to this truism is currently occurring in Europe in one of the most significant developments in the field of trusts & estates law: the introduction of trust-like devices in civil law countries. Specifically, while France and other civil law countries have traditionally been skeptical about the common law instrument that is the trust, they must now confront the meaning of a trust and how to implement it because of the European Union's new regulation that calls for the harmonization of laws regarding succession. This article is analyzes the introduction of the trust concept to civil law countries