Summary

Trust funds have generally been seen as an institute characteristic solely of common law, dating back to the English law of the 12th–13th century and developed further in countries based on English law, and the institute does not integrate with the civil law system. The fundamental component of a trust fund—trust—was already known as fiducia in Roman law. Interest in the institute of a trust has increased and the introduction of similar bodies in countries applying continental law has intensified over the past decades. This, in turn, has provided grounds for an international academic debate about the harmonisation of legislation governing trusts.

The author explains the notion of a trust fund and describes the development of the institute in continental European countries during the past decades, focussing separately on the interconnections between law of succession and trust funds. The author proceeds to describe the experience of the local notaries concerning trust funds and the problems arising from them, as well as seeks to offer some solutions, while identifying institutes similar to a trust fund in Estonian law.