ABSTRACT
This article examines three distinct doctrinal routes by which creditors and other litigants may challenge a trust arrangement or reach assets connected with it: sham; failure to divest beneficial ownership; and proprietary treatment of retained powers as property or as rights tantamount to ownership. It distinguishes the legal basis and consequences of each route, and analyses the principal cases in which they have been considered and applied. The article concludes by considering the implications of these authorities for the drafting and administration of reserved-powers trusts.
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Lachlan Wilson, Beyond legal title: Sham, failure to divest beneficial ownership and proprietary treatment of retained powers, Trusts & Trustees. Published: 8 October 2026.
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