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TRUSTS - Coggle Diagram

- - - - Declaration of trust by property owner that he holds in trust or
      - transfer of property by the settlor trustee
      - Created During Settlor's life
      - No writing required unless trust of land
    - - Created by Settlor's will
      - Essential terms must be ascertained from the will, incorporated document, facts of independent significance or exercise of power of appointment
      - secret trust
        
        constructive trust imposed
      - semi-secret trust
        
        resulting trust for testator's heirs
  - - - condition stricken, but rest of the trust is valid
    - - condition stricken, and the court decided whether interest is valid or fails
    - - Impossible to Achieve
      - Contrary to public policy
      - Illegal
      - Intended to defraud settlor's creditor based on illegal consideration
- - - - If settlor's purpose is impracticable, unlawful, or wasteful court can substitute a new charitable purpose
      - Must find settlor had a general charitable intent, not just interested in the named charity
      - Court will select another purpose as near as possible
      - UTC - settlor's general charitable intent is presumed and application of cy pres is mandatory
    - - RAP does not apply to limitations that shift beneficial interest from one charity to another
      - RAP does apply to a limitation shifting the interest from private use to charitable or vice versa
- - - - All beneficiaries consent AND
      - It will not interfere with the material purpose