TERMINOLOGICAL LANDSCAPE OF THE CONTEMPORARY EUROPEAN TRUST-LIKE MECHANISMS

Irina Gvelesiani

Abstract


Contemporary legal norms regulating the transference of property often consider children as the major beneficiaries. The transference can be done under Hereditary Law, Trust Law or a mere donation. The Trust Law occupies an outstanding position in the contemporary juridical domain, because it deals with the lifelong (inter vivos) and after-death (testamentary) activities. Testators intentionally turn into trustors via transferring their property to trustees for the benefit of minor beneficiaries. The latter acquire protection, assets and a caretaker. An outstanding usefulness of a trust mechanism stipulates its popularity via the emergence of an increasing number of the European trust-like devices. However, popularization and a worldwide spread facilitate the occurrence of some problems related to the construction of the innovative trust-like mechanisms and their terminological naming. The given paper deals with the entrusting relationships of the modern European law. A special emphasis is put on the problems related to the lexical naming of the newly-emerged concepts. Certain suggestions are made regarding the “perfect” “flawless” formation of the terminological landscape.


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