Trust Creation

Question 1

How to create express trust?

Answer 1

Inter vivos transfer or testamentary transfer (occurs through will)

Question 2

How to make an inter vivos transfer of a trust

Answer 2

declaration of trust: S acts as trustee and declares herself over trust

deed of trust: conveys property to trustee

Question 3

what are remedial trust

Answer 3

created by operation of law, equitable remedy

Question 4

what are types of remedial trust?

Answer 4

constructive or resulting trust

Question 5

how to avoid remedial trust

Answer 5

create a gift over clause

Question 6

what is constructive trust

Answer 6

remedy to provide unjust enrichment that a third party takes advantage of settlor, need wrongful conduct

look for fraud, duress, undue influence, breach duty, etc

Question 7

What are types of trust distribution

Answer 7

mandatory trust (no discretion to how things distributed)
discretionary trust (complete discretion how to distribute)
support trust

Question 8

resulting trust

Answer 8

when trust fils, a court creates a resulting trust requiring the holder of the property to return it to settlor or estate to prevent unjust enrichment