Case law on foreign trust recognition by Latin American countries

As many Latin American individuals created or are willing to create trusts in foreign jurisdictions, there is a growing concern in determining if these trusts will be recognized in their home jurisdictions. Although no Latin American country ratified the Convention of 1 July 1985 on the Law Applicable to Trusts and on their Recognition that entered into force on 1 January 1992, there is domestic case law and other relevant legal elements that support the idea that Latin American jurisdictions will recognize foreign trusts.