The Future of Trust Arbitration: Quo Vadis?
Arbitration of Trust Disputes: Issues in National and International Law 531 (Oxford University Press, 2016)
Posted: 7 Oct 2016
Date Written: October 4, 2016
The increasing popularity of arbitration around the world has led to the development of a wide variety of specialties within the field. One area that has becoming increasingly important involves internal trust arbitration, meaning arbitration of disputes involving trustees and beneficiaries and relating to the inner workings of the trust.
This chapter is part of a collection of essays that considers trust arbitration from an interdisciplinary, international and comparative perspective. The discussion is the final chapter in the text and draws together the various strands of argument developed in the book and provides a number of overarching conclusions regarding the future of trust arbitration as a matter of national and international law. Not only does the chapter identify various positive developments in this field, including numerous legislative and judicial reforms from around the world, it also considers potential areas of concern, including the problems of over-specialization within the relative fields, over-emphasis on personal trusts, and an under-appreciation for international concerns. In response, this chapter calls for increased cross-disciplinary collaboration, an increased focus on commercial (business) trusts), and a recognition of the international issues involving trust arbitration.
Trust arbitration is a new and exciting area of law, practice and scholarship, and one that will be growing rapidly in the coming years. This chapter provides an important overview of the various issues that will arise in the coming years as trust arbitration grows in stature and scope around the world.
Keywords: trusts, arbitration, trust arbitration, internal trust disputes, national law, comparative law, international law, interdisciplinary research, dispute resolution, international commercial arbitration, ADR, legislation, Hague Trust Convention, New York Convention, Federal Arbitration Act, Arbitration
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