Guarantees of loans from financial institutions by a family member of the borrower can be problematic, especially if the guarantor is a vulnerable elderly person. The Commission recommends consumer protection measures to protect guarantors, including enhanced mandatory disclosure by financial institutions of the legal effects of guarantees.
Publications by Key Term: beneficiary
Revocation of Wills: Consultation Paper Oct 2004
Under the present law, a will is automatically revoked on marriage or divorce. These long-standing rules are intended to protect the interests of spouses and children of the makers of wills. However, it has been suggested the the changing social and legal context may sometimes defeat the purpose of the rules, and even make them a problem. This Consultation Paper discusses when a will is automatically revoked due to marriage or divorce.
Trustees Act: Proposals for Reform Aug 2002
This report, issued in December, 2002, completes the Commission’s project on the law of trusts. It is the product of an extensive research program that included circulation of consultation papers on aspects of the law of trusts for comment from the bar and public. The report recommends adoption of a modernized Trustees Act reflecting the contemporary needs of settlors,
Testamentary Custody and Guardianship of Children: Tentative Proposals Oct 1984
The Commission proposes reforms in the law of guardianship of a child’s person and estate. A draft of a Children’s Act is presented as an alternative to The Infants Act, which is now disjointed and in need of modernization and clarification. The draft incorporates proposals from this report and from the Commission’s 1981 Custody Report.