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Trusts (Creation (Res (Trust Property) (Inter-Vivos Transfer, Testamentary…
Trusts
Creation
Identifiable Beneficiary
Proper Purpose (Non-Illegal)
Res (Trust Property)
Inter-Vivos Transfer
Testamentary Trust
Statute of Frauds
Trustee
Statute of Wills
Intent (Present Intent not Future)
Settlor's capacity
Types
Charitable
Cy pres Doctrine
Constructive
Express
Resulting
Trustee
Powers
Borrow Money
Sell or Lease Trust Assets
Exercise Property right of an unmarried person
Apportion Trust Income
Settle Trust Claims
Incur Reasonable expenses to maintain Property
Duties
Dispose of Wasting or Non-Productive Assets
Maintain Accounting of Transactions
Preserve Trust Property and make it productive
Enforce Claims and Defend Trust from Attack
Loyalty and Good faith
Liability to Beneficiaries if Duties Breached