Trust drafting practices have changed dramatically in recent decades. A range of considerations has led to an increase in the dispositive discretions held by trustees. In some cases, the trustees’ dispositive discretions effectively govern the whole trust structure, leading to what the author calls a ‘massively discretionary trust’. These trusts create a series of legal risks. These include the possibility that the trust property is held on resulting trust from the moment of the trust’s constitution and the possibility that the beneficiaries can collapse the trust and take the trust property. Some drafting techniques may be based on a misunderstanding of the law; some may invite litigation; and the governing legal principles, as understood by some drafters, may be subject to revision and refinement by the courts. This paper will examine some of these possibilities using concrete examples.

中文翻译：

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大规模全权信托

近几十年来，信托起草实践发生了巨大变化。一系列考虑导致受托人拥有更多的自由裁量权。在某些情况下，受托人的自由裁量权有效地支配了整个信托结构，导致了作者所谓的“大规模自由裁量权信托”。这些信托产生了一系列的法律风险。这些包括信托财产自信托成立之时起就由产生的信托持有的可能性，以及受益人可以破坏信托并取得信托财产的可能性。某些起草技巧可能基于对法律的误解；有些可能会招致诉讼；一些起草者所理解的管辖法律原则可能会受到法院的修订和完善。