Newsletters

Wills

Basic Vocabulary

Trust Elements - Beneficiary

A trust has five main elements. First, a settlor transfers some or all of his or her property. Second, the property transferred by the settlor is designated trust property. Third, the trust property designated by the settlor is transferred with the settlor's intent that it be managed by another. Fourth, the trust property designated by the settlor is transferred for management by a trustee. Fifth, the trust property designated by the settlor is managed by a trustee for the benefit of a beneficiary.

Resulting Trusts

Trusts are sometimes classified by the intent, if any, of the settlor to create a trust. This article discusses the kind of trust for which the settlor's intent is implied: the resulting trust.

Trusts, Public and Private - III

An express trust is either public or private. A public trust, also known as a charitable trust, is an express trust created for a charitable purpose. If an express trust is not a charitable trust, it is deemed to be a private trust. A private trust is an express trust created to benefit a few persons. This article discusses some aspects of public and private trusts.

Inheritance in Unusual Circumstances

State statutes of descent and distribution are usually supplemented by other statutes or court rulings governing inheritance in unusual circumstances. This article discusses some of those unusual circumstances.