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Study sets matching "trust"

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Study sets matching "trust"

14 terms
Trust
George washington
Militia
Alliance
Cede
Leader of the virginia militia was sent to get the french to…
Organized body of armed volunteers
Agreement between nations or groups to aid and support one an…
To give up
George washington
Leader of the virginia militia was sent to get the french to…
Militia
Organized body of armed volunteers
229 terms
TRUST
1.Trust-creation and requirement... State…
1.Trust-creation and requirement... Where…
1.Trust-creation and requirement... Defin…
1.Trust-creation and requirement... Defin…
In the absence of a restrictive provision to the contrary, a…
• an earlier transferee neglects to inform the trustee of the…
A support provision is one in which the trustee is directed t…
A discretionary trust interest is one in which payment to the…
1.Trust-creation and requirement... State…
In the absence of a restrictive provision to the contrary, a…
1.Trust-creation and requirement... Where…
• an earlier transferee neglects to inform the trustee of the…
228 terms
Trust
Trust-creation and requirement... State w…
Trust-creation and requirement... Where a…
Trust-creation and requirement... Define…
Define Discretionary Trust.
In the absence of a restrictive provision to the contrary, a…
• an earlier transferee neglects to inform the trustee of the…
A support provision is one in which the trustee is directed t…
A discretionary trust interest is one in which payment to the…
Trust-creation and requirement... State w…
In the absence of a restrictive provision to the contrary, a…
Trust-creation and requirement... Where a…
• an earlier transferee neglects to inform the trustee of the…
30 terms
Trust
author
summary
compulsory
voluntary
författare
sammanfattning
obligatoriskt
frivilligt
author
författare
summary
sammanfattning
26 terms
TRUST
Valid trust
Termination of a trust
Claflin Doctrine
CA termination of a trust
An arrangement under which the trustee holds legal title to t…
1. Claflin Doctrine... 2. trustee or Beneficiaries request... 3. th…
Claflin Doctrine: most states may terminate the trust only if…
Under CA: a trustee or beneficiary may request termination if…
Valid trust
An arrangement under which the trustee holds legal title to t…
Termination of a trust
1. Claflin Doctrine... 2. trustee or Beneficiaries request... 3. th…
58 terms
trust
trustor settlor transferor
beneficiary
trustee
to set up, establish, create, declare…
учередитеть доверительной собственности
бенефициар
доверительный собственник
установить учредить траст
trustor settlor transferor
учередитеть доверительной собственности
beneficiary
бенефициар
58 terms
trust
trustor settlor transferor
beneficiary
trustee
to set up, establish, create, declare…
учередитеть доверительной собственности
бенефициар
доверительный собственник
установить учредить траст
trustor settlor transferor
учередитеть доверительной собственности
beneficiary
бенефициар
27 terms
Trust
Thomas v Tennant's Trs
Anderson v Smoke
Raes v Meek
Henderson's Trs
RESULTING TRUST... example of a purposeless trust
RESULTING TRUST
Trustee's duty of care to act as a person of reasonable prude…
duty for trustees not to make unduly risky investments
Thomas v Tennant's Trs
RESULTING TRUST... example of a purposeless trust
Anderson v Smoke
RESULTING TRUST
17 terms
Trust
Income beneficiary
Trustee
Beneficiary
Spendthrift
The person named in the trust who receives income from the pr…
The person to who title to the trust property is transferred…
The person for whose benefit the trust is established
A trust that places restraints on alienating an interest in t…
Income beneficiary
The person named in the trust who receives income from the pr…
Trustee
The person to who title to the trust property is transferred…
53 terms
Trust
Gillespie
Style Financial Services
Garden's Executors
s14 1964 Act
Declaration of trust: wording - 'for benefit of' or 'on behoo…
Declaration of trust: wording - must have regard to whole cir…
Precatory trust: saying "I should like that" is not strong en…
Provision stating that executor in mortis causa trust gains p…
Gillespie
Declaration of trust: wording - 'for benefit of' or 'on behoo…
Style Financial Services
Declaration of trust: wording - must have regard to whole cir…
20 terms
trust
Spanish and american war
volunteers to fight in Cuba
progressive ear
trust
it was in 1898 u.s and Spain
...
1900-1910 time of reform
huge corporation
Spanish and american war
it was in 1898 u.s and Spain
volunteers to fight in Cuba
...
25 terms
Trust
What is Trust?
The Spectrum of Trust
Transaction Cost
Trust in Groups
Trust is both and emotional and logical act. Emotionally, it…
We don't trust all people equally and we don't all approach t…
The cost of distrust... Whenever you interact with another perso…
What makes a group a group: Is it the similarities between th…
What is Trust?
Trust is both and emotional and logical act. Emotionally, it…
The Spectrum of Trust
We don't trust all people equally and we don't all approach t…
22 terms
Trust
Trust
Requisites of Trust (Generally)
Express Trust (Elements)
Delivery Requirement
An arrangement under which the trustee holds legal title to p…
Creator ... delivers ... legal title of trust assets (the res…
Governed by UTC ... (i) a settler (creator) with capacity to co…
Requirement does not apply to self-declaration of trust ("I h…
Trust
An arrangement under which the trustee holds legal title to p…
Requisites of Trust (Generally)
Creator ... delivers ... legal title of trust assets (the res…
44 terms
Trust
Trust
Settlor
Trustee
Beneficiary
Trust creates a fiduciary relationship and are categorized ba…
owners transfers property to the trustee
manager who holds legal title to the property
benefits who holds equitable title to the property.
Trust
Trust creates a fiduciary relationship and are categorized ba…
Settlor
owners transfers property to the trustee
19 terms
Trust
trust
character
intent
caring
güven
karakter
niyet
önemseme
trust
güven
character
karakter
24 terms
Trust
Private Express Trust
Charitable Trust
Inter Vivos
Testementary
(1) intent to create a trust: oral, writing, conduct. Evidenc…
Charitable Purpose: Eradication of poverty, promoting educati…
- declaration + simultaneous delivery of property (no dominio…
Instructions for trust in will ... Hidden trust: looks like gif…
Private Express Trust
(1) intent to create a trust: oral, writing, conduct. Evidenc…
Charitable Trust
Charitable Purpose: Eradication of poverty, promoting educati…
104 terms
trust
trustor settlor transferor
beneficiary
trustee
to set up, establish, create, declare…
учередитеть доверительной собственности
бенефициар
доверительный собственник
установить учредить траст
trustor settlor transferor
учередитеть доверительной собственности
beneficiary
бенефициар
100 terms
Trust
Characteristic of Express Trust
Intent
Overcoming Precatory Expressions
Trustee Must Have Duties
1. Res... 2. Trustee... 3. Beneficiary... 4. Settlor... 5. Intent to crea…
1. Written or spoken words... 2. At the time of property ownersh…
1. Definite and precise directions... 2. Directions addressed to…
A "passive trust" is void, and the beneficiaries take legal t…
Characteristic of Express Trust
1. Res... 2. Trustee... 3. Beneficiary... 4. Settlor... 5. Intent to crea…
Intent
1. Written or spoken words... 2. At the time of property ownersh…
47 terms
Trust
Trust
Fiduciary relationship
Trustee
Beneficiary
Доверительная собственность
Фидуциарные отношения
Доверительный собственник
Бенифициар
Trust
Доверительная собственность
Fiduciary relationship
Фидуциарные отношения
25 terms
trust
carbon
masculine
ancient
meat
andro-
ap-
allo-
-blast-
carbon
andro-
masculine
ap-
45 terms
Trust
Trust validity
Trust validity - capacity of settlor
Trust validity - need for trustee
Trust validity - intent
1. Settlor... 2. Trustee... 3. Ascertainable beneficiaries... +... 4. I…
Settlor must have capacity... - No lack of legal capacity to con…
1. Inter vivos trust requires a trustee... 2. Testamentary trust…
Settlor must have manifestation of intent... 1. Intent must be…
Trust validity
1. Settlor... 2. Trustee... 3. Ascertainable beneficiaries... +... 4. I…
Trust validity - capacity of settlor
Settlor must have capacity... - No lack of legal capacity to con…
TRUST
Be still my soul 1
Bear patiently
Leave to thy god
In every change
The lord is on thy side
The cross of grief or pain
To order and provide
He faithful will remain
Be still my soul 1
The lord is on thy side
Bear patiently
The cross of grief or pain
12 terms
Trust
Exodus 14:14
Joshua 21:45
Joshua 23:8
Psalm 37:4-5
...
...
...
...
Exodus 14:14
...
Joshua 21:45
...
11 terms
Trust
فاحش الثراء
جشع
اسطول
متن
درجه عاليه من الغناء
طمع
مجموعة سفن
اعلى السفينة
فاحش الثراء
درجه عاليه من الغناء
جشع
طمع
32 terms
Trust
A trustee is granted _____ title
Duty of a trustee
Express Trust
resulting trust
legal title.
fiduciary duty to manage, safeguard, and administer it for th…
expressed intention of the owner of the property
arise from the presumed intention of the owner of property
A trustee is granted _____ title
legal title.
Duty of a trustee
fiduciary duty to manage, safeguard, and administer it for th…
14 terms
Trust
Trust
Positive expectation
Opportunistically
Loyalty
Positive expectation that another will not-through words, act…
Assumes knowledge and familiarity abt the other party.
It refers to the inherent risk and vulnerability in any trust…
The willingness to protect & save face for another person.
Trust
Positive expectation that another will not-through words, act…
Positive expectation
Assumes knowledge and familiarity abt the other party.
15 terms
Trust
Who does the trust function report to?
Definition of a Fudiciary
Trust Rating
Elements of an effective internal cont…
The board (trust officers report directly to the board)
Person/legal entity charged with acting for the benefit of an…
MOECA... Management... Operations, controls and audit... Earnings... Com…
Dual Control... Segregation of Duties... Independent Reconcilement…
Who does the trust function report to?
The board (trust officers report directly to the board)
Definition of a Fudiciary
Person/legal entity charged with acting for the benefit of an…
115 terms
Trust
Trust
Bi-furcated Transfer
Principal
Income
A trust is a fiduciary relationship where trustee(s) are call…
Trustee owns legal title... Beneficiaries own equitable title
Original trust property and any increase in value
money generated by investment of trust property
Trust
A trust is a fiduciary relationship where trustee(s) are call…
Bi-furcated Transfer
Trustee owns legal title... Beneficiaries own equitable title
9 terms
Trust
Creation of an express private Trust
Charitable Trusts
Charitable Trusts--Cy Pres
Honorary Trusts
settlor's capacity and present intent, identifiable trustee,…
must benefit the public and are not subject to RAP.
if settlors intended purpose is impracticable or unlawful, or…
not for charitable purpose but no private beneficiaries who c…
Creation of an express private Trust
settlor's capacity and present intent, identifiable trustee,…
Charitable Trusts
must benefit the public and are not subject to RAP.
26 terms
trust
trust
fundamental social dilemma
why does anyone trust?
disposition
a willingness to leave yourself vulnerable to the acts of ano…
cooperating leads to better outcomes, but in cooperating you…
three reasons: disposition, cognition, affect
whether you're inclined to trust
trust
a willingness to leave yourself vulnerable to the acts of ano…
fundamental social dilemma
cooperating leads to better outcomes, but in cooperating you…
20 terms
Trust
Premarital agreements on death
omitted children and spouse... SOME KID…
Interpretation Barf... SOMETHING IN THE…
interp barf: 3 steps... OK SO HOW DO WE…
a Pre-marital agreement is not enforceable unless:... 1) enforci…
A child born after a will or trust is made will be considered…
language can often become ambiguous and as a result courts wi…
The 3 steps of interpreting an instrument are;... 1) in light of…
Premarital agreements on death
a Pre-marital agreement is not enforceable unless:... 1) enforci…
omitted children and spouse... SOME KID…
A child born after a will or trust is made will be considered…
28 terms
Trust
Private Express Trust
Property of the Trust
Illusory interests cannot be the subje…
Honorary Trust
Private Express Trust Defined... A fiduciary relationship with r…
Rule: Any presently existing interest in property that can be…
[a] Future profits to a business.... [b] A debt that settlor owe…
a trust which has no ascertainable beneficiary and confers no…
Private Express Trust
Private Express Trust Defined... A fiduciary relationship with r…
Property of the Trust
Rule: Any presently existing interest in property that can be…
100 terms
Trust
Trust
Principal
Income
Revocable
fiduciary relationship wherein trustees are called upon to ma…
the o The original trust property and any increased value of…
Money generated by investing
A revocable trust can be revoked (i.e., ended) anytime during…
Trust
fiduciary relationship wherein trustees are called upon to ma…
Principal
the o The original trust property and any increased value of…
15 terms
Trust
Definition
The trust game
What game theory suggests should be done
The centipede game
A firm belief in the reliability, truth, ability or strength…
A has £100 can keep or hand over sum to B. Value handed over…
To maximise payoffs, B should hand nothing back but anticipat…
McKalvey and Palfrey (1992) ... A has £100. Can either split 80…
Definition
A firm belief in the reliability, truth, ability or strength…
The trust game
A has £100 can keep or hand over sum to B. Value handed over…
13 terms
Trust
Trust based on balance of 2 elements
Character
Competence
5 waves of trust
1. Character... 2. Competence... - BOTH are vital to complete trust…
- Ethics is foundational for trust across all situations... - In…
- Applies to situations... - Capabilities, skills, results, prio…
1. Self trust... 2. Relationship trust... 3. Organizational trust... 4…
Trust based on balance of 2 elements
1. Character... 2. Competence... - BOTH are vital to complete trust…
Character
- Ethics is foundational for trust across all situations... - In…
162 terms
Trust
What is a trust? Principal? Income?
What is presumption of a trust regardi…
What is an mandatory trust vs. discret…
What is the definition of remedial tru…
Def: A trust is a management device for holding and managing…
Under IL law, a trust is presumed to be irrevocable. ... IL Rul…
Def: In a mandatory trust, the trustee must distribute paymen…
Def: Not really a trust; it's an equitable remedy created by…
What is a trust? Principal? Income?
Def: A trust is a management device for holding and managing…
What is presumption of a trust regardi…
Under IL law, a trust is presumed to be irrevocable. ... IL Rul…
11 terms
Trust
character
competence
two elements of trust
5 waves of trust
ethics is fundamental for trust across all situation; integri…
applies to situations; capabilities, skills, results, prior a…
character and competence
self trust, relationship trust, organizational trust, market…
character
ethics is fundamental for trust across all situation; integri…
competence
applies to situations; capabilities, skills, results, prior a…
33 terms
TRUST
A Trust will fail for lack of intent t…
A trusteeship may be accepted by any o…
To create a valid testamentary trust,…
All of the following are duties of the…
The settlor promises to create a trust when he collects a deb…
Failing to Notify the settlor of rejection ... A designated tru…
C ... The trust intent and the essential terms of a testamentar…
C... The trustee of a constructive or resulting trust has no dut…
A Trust will fail for lack of intent t…
The settlor promises to create a trust when he collects a deb…
A trusteeship may be accepted by any o…
Failing to Notify the settlor of rejection ... A designated tru…
Trust
-
That's nice to know.
She was a beautiful bride.
And what happened?
You come highly recommended.
My friend, Kay, said you did a beautiful job on her dress.
God, when I was little, I had this fantasy. I was going to de…
I grew up.
-
You come highly recommended.
That's nice to know.
My friend, Kay, said you did a beautiful job on her dress.
299 terms
Trusts
Split of Property with Trusts
Role of Trustee
A trust is a...
Basic Function of Trust
Legal and Equitable Title
Fiduciary
Conveyance of property
Settlor transfers legal title to trustee and equitable title…
Split of Property with Trusts
Legal and Equitable Title
Role of Trustee
Fiduciary
37 terms
Trusts
Trusts: Overview
Trusts: Trust formation and validity (…
Trusts: Trust formation and validity (…
Types of trusts, overview
The major issues in Trusts exams are:... (1) Formation and vali…
There are seven elements of a valid trust:... (1) A settlor or…
If the facts state that T executed a trust, and doesn't use t…
(1) Mandatory: ... (2) Charitable... (3) Honorary... (4) Testamentary…
Trusts: Overview
The major issues in Trusts exams are:... (1) Formation and vali…
Trusts: Trust formation and validity (…
There are seven elements of a valid trust:... (1) A settlor or…
16 terms
Trusts
Settlor
Trust
Trust creation
Elements of a valid private trust
Creator of a trust
A fiduciary relationship with respect to specific property wh…
Intent + trust purpose
1. Intent... 2. Trustee... 3. Trust property... 4. Definite beneficiar…
Settlor
Creator of a trust
Trust
A fiduciary relationship with respect to specific property wh…
14 terms
Trusts
Valid Trust
Charitable Trusts
Remedial Trusts
Resulting Trust
- Settlor, Trustee, Ascertainable Beneficiaries ... - Intent ... -…
Must have a stated charitable purpose - benefiting the commun…
Passive in that the sole duty is to convey property to the be…
When a trust fails, court will create resulting trust to achi…
Valid Trust
- Settlor, Trustee, Ascertainable Beneficiaries ... - Intent ... -…
Charitable Trusts
Must have a stated charitable purpose - benefiting the commun…
29 terms
Trusts
Trusts essays, overview
Trust formation and validity
Mario's comments on essays
Secret and Semi-Secret Trusts, overview
The major issues in Trusts exams are: formation and validity;…
There are seven elements of a valid trust: ... (1) a settlor or…
If the facts state that T executed a valid trust, do not disc…
This is an area that has been tested several times. You need…
Trusts essays, overview
The major issues in Trusts exams are: formation and validity;…
Trust formation and validity
There are seven elements of a valid trust: ... (1) a settlor or…
192 terms
Trusts
Trustee
Definition of a trust
Beneficiary
Truster
Person in whom trust property is vested
a trust is a legal relationship in which property is vested i…
The person whom the value of eh trust is ultimately intended…
The person whom create the test, original owner of the trust…
Trustee
Person in whom trust property is vested
Definition of a trust
a trust is a legal relationship in which property is vested i…
82 terms
Trusts
Legal Interest
Equitable or Beneficial Interest
Settlor
How to create a valid trust ...
Responsibility of ownership held by the trustee
Held by the beneficiary who receives the benefits of ownershi…
Person who creates the trust by supplying the initial trust p…
There must be a settlor who, intending to create a trust for…
Legal Interest
Responsibility of ownership held by the trustee
Equitable or Beneficial Interest
Held by the beneficiary who receives the benefits of ownershi…
17 terms
Trusts
Creation of a Private Express Trust
Creation of a Private Express Trust: I…
Creation of a Private Express Trust: P…
Creation of a Private Express Trust: P…
To create a private express trust, 1) the settlor must intend…
Trust words, such as "in trust" or "for the benefit of," crea…
A pour over will is not required to have property in the trus…
Generally, any purpose will suffice as long as it is legal an…
Creation of a Private Express Trust
To create a private express trust, 1) the settlor must intend…
Creation of a Private Express Trust: I…
Trust words, such as "in trust" or "for the benefit of," crea…
33 terms
Trusts
A trust will fail for lack of intent t…
Which of the following is least likely…
A trusteeship may be accepted by any o…
To create a valid testamentary trust,…
The settlor promises to create a trust when he collects a debt.
A trust expressing a settlor's hope for how the money will be…
*Accepting delivery of the deed.... *Exercising powers of a trus…
The terms of the settlor's will, a writing incorporated by re…
A trust will fail for lack of intent t…
The settlor promises to create a trust when he collects a debt.
Which of the following is least likely…
A trust expressing a settlor's hope for how the money will be…
27 terms
Trusts
Trust
Divides ownership as follows:
declaration of trust
transfer in trust
a method of holding title to property
(1) give legal title to trustee and equitable title to the be…
where the settlor declares him or herself to be the trustee o…
where O and T are different people. O transfers property to a…
Trust
a method of holding title to property
Divides ownership as follows:
(1) give legal title to trustee and equitable title to the be…
22 terms
Trusts
Express Trust Elements
Intent
Trust Property
Valid Trust Purpose
o Grantor/settlor... o Trustee... o Intent to create trust... o Trust…
A private express trust clearly states the intention of the s…
The trust must be funded with identifiable trust property (re…
A trust can be created for any purpose as long as it isn't il…
Express Trust Elements
o Grantor/settlor... o Trustee... o Intent to create trust... o Trust…
Intent
A private express trust clearly states the intention of the s…
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