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The trust concept was utilised as a device for preserving family wealth. However the mechanism of splitting the legal and beneficial interests in property has enabled it to expand and constitute many of the most significant economic actors of the global economy.1Trusts have been employed in a variety of contexts in the commercial sphere (for example pension funds), in the charitable domain and for tax saving schemes. It is estimated that approximately half of the independent wealth in the world is held through one form of trust structure or another.2 Due to the wide range of purposes to which the trust is employed and the development and expansion of the trust to meet changing needs, there is no comprehensive and exact definition. I agree with the statement, " there can be no area of law in which there is more confusion about basic definitions than the law of trusts"3. Various academics4 have...

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