1
Q
What is a “trust” ?
A
Trust is a FIDUCIARY RELATIONSHIP w/ respect to SPECIFIC PROPERTY (res) wherein TRUSTEE holds legal title to property subject to enforceable rights of the BENEFICIARY
2
Q
What is a “settlor” ?
A
Person who creates the trust.
3
Q
Is consideration required to make a trust?
A
No
4
Q
What are the relevant types of trusts ?
come back to
A
- Express Private Trusts
- Charitable Trusts
- Resulting Trusts
- Constructive Trusts
- Will Substitutes
- Revocable Inter Vivos Trust
- Totten Trusts
Trusts
flashcards
Decks in class (14)
# Cards
-
Trusts: In General4
-
Express Trusts: Formation - Requirements; Trustee17
-
Express Trusts: Formation - Res, Beneficiaries14
-
Express Trusts: Invalid Trust Purposes; RAP3
-
Charitable and Honorary Trusts7
-
Transfer of Beneficiary's Interest10
-
Modification and Termination of Trusts8
-
Trustee Administration14
-
Trust Administration: Liability of Trustee (come back to p16)0
-
Trust Administration: Liability of 3rd Parties to trust (come back to p17)0
-
Trust Administration: Allocation of Receipts and Expenses between Income and Principal Accounts (come back to p 18)0
-
Will Substitutes4
-
Trusts Arising as a Matter of Law8
-
Constructive Trusts (come back to)0
