Trusts Legal title versus Beneficial ownership (equitable)
Trusts A) Express –private –public –inter vivos –testamentary –active –passive / stand by
Trusts B) Implied –resulting –constructive
Trusts C) Element –Settlor, Trustor, Grantor –Trustee –Beneficiary –Capacity –Intent (purpose) cy pres –Res
Trusts D) Fiduciary Duties –Concept –Applies to –Liability, Proof, Defenses –Examples Investments Not commingle- earmark and separate
Trusts E) Issues of Income and Principal –Accumulation trust –Discretionary trust –Ascertainable standard provision –Income trust –Sprinkle trust –Annuity trust –Total return unitrust
Trusts F) Trusts as a Separate Taxable Entity EstateTrust Bene Individual Bene’s Individual Bene’s
Trusts G) Related topics –Living Trusts –Wills probate intestacy –Power of Attorney –Durable Power of Attorney –Living Will/Advanced Directive