Trusts Legal title versus Beneficial ownership (equitable)

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Presentation transcript:

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