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Trusts (Creation (Trustee (Must have mental capacity to administer trust,…
Trusts
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Types
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Charitable trust
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Cy pres doctrine applies: when designated charity is not in existence at settlor's death ct redirect to purpose as near
RAP: rust may have perpetual existence, must vest w/in period if preceded by non charitable estate
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Termination
if cannot be as intended cy pres not met, terminates and resulting trust in favor of settlor's estate results
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Provision
Spendthrift
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Does not protect against claim by gov or claim for child support, spousal maintenance
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Discreationary
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If beneficiary stems, then no right to income until trustee distributes
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Modification
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Beneficiaries
Conflicts w/ material purpose, settlor consent required
If all do not agree, ct may modify or terminate trust when
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