The bureaucracy and sheer cost of establishing from scratch a comprehensive trust register, which will have to record millions of such family trusts, should give any government committed to cutting red tape pause for thought. Disproportionate cost, however, is not the only worry. Crucially, a family’s right to keep their affairs confidential is also under threat. Among trust funds that have taxable income, HMRC research indicates that about one in four has been established because one or another of the beneficiaries is considered vulnerable in some way. If parents or grandparents wish to set aside some money to help a vulnerable child, should this arrangement be paraded on a compulsory public register?