Through our lives, the law of Equity and Trusts is very often working in the background. If a parent or guardian wants to provide for their child, she will need to set up a trust. If we fall in love and move in with a partner, the law of Equity and Trusts might control who owns the family home. Similarly, Equity and Trusts also allows us to contribute to the welfare of others, through providing the foundation for the creation and operation of charitable organisations. When we get older and start to plan for death, Equity and Trusts controls the ways in which we can provide for our loved ones. Equity, as the name suggests, can also regulate bad behaviour of others, and provide remedies for financial mismanagement and fraud.
The map below imagines Equity and Trusts as a life journey. The law, as described in our book, regulates all these major events. Obviously, it is not a life course that everyone will take. Not everyone will have children. Not everyone will split up with a partner. Not everyone will go into business or write a will. Nevertheless, mapping the law in this way shows the deep impact of Equity on all of us.
Featured image by Jesse Bowser on Unsplash (public domain)