Private Express Trust

Private Express Trust: A Comprehensive Guide

Are you looking to protect your assets, manage inheritance effectively, or simply understand the intricacies of trust law? Then you've come to the right place. This comprehensive guide delves into the world of private express trusts, explaining what they are, how they work, and their various applications. We'll demystify the complexities, providing clear explanations and practical examples to help you grasp this crucial legal concept. Whether you're a legal professional, a business owner, or simply curious about wealth management, this post offers invaluable insights into the power and functionality of a private express trust.

What is a Private Express Trust?

A private express trust is a legal arrangement where one party (the settlor) transfers ownership of assets to another party (the trustee) to hold and manage for the benefit of a third party (the beneficiary). The key characteristics that distinguish a private express trust are:

Private: It's established for the benefit of specific individuals, not the public at large. This contrasts with charitable trusts which benefit the wider community.
Express: It's created deliberately and intentionally through a clear declaration of trust, either orally or, preferably, in writing. This contrasts with implied or constructive trusts which arise by operation of law.


The settlor retains control over the assets initially. However, once the trust is established, the trustee holds legal title while the beneficiary enjoys equitable title (the right to benefit from the assets). The trustee's duties are clearly defined and governed by the trust deed (the legal document outlining the terms of the trust).

Essential Elements of a Valid Private Express Trust

To be legally valid, a private express trust must contain certain essential elements:

Three Certainties: This is the cornerstone of trust law. It mandates certainty of:
Intention: The settlor must clearly intend to create a trust. Ambiguous language can invalidate the trust.
Subject Matter: The assets held in trust must be clearly identified. Vague descriptions will not suffice.
Objects: The beneficiaries (or class of beneficiaries) must be clearly defined. Uncertainty as to who will benefit renders the trust invalid.

Capacity: Both the settlor and trustee must have the legal capacity to create and administer a trust. Minors, for example, generally lack the capacity to act as settlors.

Valid Trust Object: The purpose of the trust must be lawful. Trusts created for illegal purposes are void.

Proper Constitution: The trust must be properly constituted, meaning the trust property must be transferred to the trustee. A mere declaration of trust without transfer of assets is usually insufficient to create a valid trust, though there are exceptions.

Types of Private Express Trusts

Private express trusts encompass a range of structures tailored to specific needs:

Discretionary Trusts: The trustee has discretion to distribute income or capital to the beneficiaries as they see fit, within the terms of the trust deed. This offers flexibility in managing assets, especially where beneficiaries have different needs or circumstances.

Fixed Trusts: The trust deed explicitly sets out how the assets are to be distributed among the beneficiaries. This provides certainty and predictability.

Advantages of Using a Private Express Trust

Numerous benefits incentivize the use of private express trusts, including:

Asset Protection: Trusts can shield assets from creditors, protecting them from personal liabilities.
Tax Planning: Strategic use of trusts can minimize tax liabilities, though tax laws vary widely across jurisdictions. Consult a tax advisor for specific guidance.
Estate Planning: Trusts are crucial tools in estate planning, facilitating efficient transfer of wealth across generations and minimizing probate costs.
Succession Planning: For business owners, trusts can ensure smooth transition of ownership and management without disrupting operations.
Control and Management: Trusts allow settlors to maintain some degree of control over their assets even after transferring them to a trustee.

Disadvantages of Using a Private Express Trust

While private express trusts offer many advantages, potential downsides include:

Complexity: Establishing and administering a trust involves legal complexities and associated costs.
Cost: Legal fees, trustee fees, and administrative expenses can be significant.
Lack of Flexibility: The terms of the trust deed are generally binding and difficult to alter.
Potential for Disputes: Disputes can arise among beneficiaries or between beneficiaries and trustees.

Conclusion

Private express trusts are powerful legal tools for asset protection, wealth management, and estate planning. Understanding their intricacies is crucial for anyone seeking to leverage their benefits. However, the complexity involved necessitates seeking professional advice from a solicitor or trust specialist to ensure that the trust is correctly established and managed in accordance with the law and the settlor's intentions. This guide provides a comprehensive overview, but professional guidance is always recommended before embarking on the creation of a private express trust.

FAQs

1. Can I act as my own trustee? Yes, you can, but it's generally advisable to appoint an independent trustee to ensure impartiality and prevent conflicts of interest.

2. How much does it cost to set up a private express trust? The cost varies significantly depending on the complexity of the trust and the jurisdiction. Legal fees, administrative costs, and potential tax implications all contribute to the overall expense.

3. What happens if the trustee dies? The trust deed usually outlines the process for appointing a replacement trustee. If no provision is made, the court will appoint a successor.

4. Can I amend the terms of a trust after it's been established? It depends on the terms of the trust deed. Some trusts allow for amendments, while others are irrevocable.

5. Is a private express trust the right choice for everyone? No. The suitability of a private express trust depends on individual circumstances and financial goals. Seeking professional financial and legal advice is crucial to determine if it's the appropriate solution for your needs.


  private express trust: The Principles of Equity & Trusts Graham Virgo, 2018 'The Principles of Equity and Trusts' brings an engaging contextual approach to the subject. Graham Virgo overcomes the complex issues in the study of trusts and equity with unparalleled clarity, offering a rigorous and insightful commentary on the law and its contemporary contexts.
  private express trust: The Law of Trusts Browne C. Lewis, 2015-07-25 The use of testamentary trusts is becoming an important part of estate planning. As a result, students who want to make a living as probate attorneys will need to know how trusts fit into estate planning. In addition, bar examiners realize that it is important for students to have a basic knowledge of trust law. That realization will result in bar examination questions that test that knowledge. This book is designed for use as a supplementary text for a course on wills and trusts and the primary text in a seminar or course exploring the law of trusts.
  private express trust: Trusts and Equity Gary Watt, 2012-06-28 Gary Watt provides detailed and conceptual analysis of the complex area of trusts and equity. Emphasis on the modern commercial context and abundant cultural references, ensure students find Watt's approach a stimulating and inspiring read.
  private express trust: Complete Equity and Trusts Richard Clements, Ademola Abass, 2018 Complete Equity & Trusts is supported by clear author commentary, choice extracts, and useful learning features. The explanations and examples in this textbook have been crafted to help students hone their understanding of trusts law. The Complete titles are ambitious in their scope; they've been carefully developed with teachers to offer law students more than just a presentation of the key concepts. Instead they offer a complete package. Only by building on the foundations of the subject, by showing how the law works, demonstrating its application through extracts from cases and judgments, and by giving students the tools and the confidence to think critically about the law will they gain a complete understanding. This book is accompanied by free online resources, which feature resources for students and lecturers including the following: - Guidence for answering end-of-chapter questions in the book - Self-test question with instant feedback - A flashcard glossary of key terms - Updates on legislation and case law
  private express trust: Trusts Law Graham Moffat, Gerard M. D. Bean, Rebecca Probert, 2009-09-03 This classic textbook brings a modern perspective to the study of the law of equity. Its hallmark contextualized approach and commercial focus will help students understand the subject, and the authors' commentary on the factors informing trusts law allows students to confidently grapple with complex ideas.
  private express trust: Philosophical Foundations of the Law of Express Trusts , 2023-11-03 The trust is a highly popular mode of property-holding and one of the most important innovations in the law of equity. It presents the jurist with numerous conceptual, doctrinal, and ethical challenges. In addition to being used towards the pursuit of good, trusts have also been used for ill, and the interaction of trust law with other laws agitates received principles of justice, efficiency, and coherence in the law. Trust law remains, nevertheless, under-theorized. While its technical and doctrinal aspects have been studied intensively, the foundational questions to which they give rise have remained largely unexamined. This volume takes an important step towards filling this gap. The chapters in this book explore some of these quandaries with a view to initiating and encouraging further engagement and learning. They identify different challenges and adopt a variety of methodological approaches and perspectives towards their resolution, ranging from conceptual questions about what is 'the trust' and 'trusts law', chapters analysing the legal and/or moral statuses of each of the settlor, trustee, and beneficiary, to chapters questioning the moral foundations of different trusts and range of pursuits towards which parties have deployed them.
  private express trust: Apprehended Violence Orders New South Wales. Law Reform Commission, 2003
  private express trust: An Introduction to the Law of Trusts Simon Gardner, 2011-05-05 A comprehensive, stimulating introduction to trusts law, which provides readers with a clear conceptual framework to aid understanding of this challenging area of the law. Aimed at readers studying trusts at an undergraduate level, it provides a succinct and enlightening account of this area of the law. Concise and clear, this book also identifies and discusses many analytical perspectives, encouraging a deeper understanding of the issues at hand. It offers an outstanding treatment of specific areas, in particular remedial constructive trusts and trusts of family homes. Ideal for providing a broad background to the issues before embarking on an in-depth study of trusts, it can also be used to help the reader to develop their understanding. For those looking to challenge themselves, detailed footnotes highlight further issues and point the direction for future reading. Fully revised to take into account the Charities Act 2006, judicial developments through case law, and recent academic work in this area, this new edition in the renowned Clarendon Law Series offers a well-written, careful, and insightful introduction to the law of trusts.
  private express trust: The Rule Against Perpetuities John Chipman Gray, 1886
  private express trust: A Student's Guide to Equity and Trusts Judith Bray, 2020-08-27 Brings Equity and Trusts to life for students of all abilities with clearly explained principles and simple, practical examples.
  private express trust: Equity and Trusts in Australia Michael Bryan, Vicki Vann, V. J. Vann, 2012-07-17 The book provides a succinct, clear and accessible explanation of key theories and terminology in equitable and trust law and demonstrates how these are applied in practice with simple, topical examples. Bryan from University Melbourne, Vann from Monash.
  private express trust: Moffat's Trusts Law Jonathan Garton, Graham Moffat, Gerry Bean, Rebecca Probert, 2015-08-13 This latest edition of Moffat's Trusts Law has been fully revised and updated to cover recent statutory developments and explores the impact of a wealth of new cases including the Supreme Court decisions in Pitt v. Holt (2013), FHR European Ventures v. Cedar Capital Partners (2014) and Williams v. Central Bank of Nigeria (2014). It has been restructured to incorporate a new chapter on the internationalisation of the trust which provides an understanding of the new directions being taken in the areas of trust law and equitable remedies. Supplementary material includes an online chapter on occupational pension schemes. With suggestions for further reading guiding the student to contemporary debates, this leading textbook retains its hallmark combination of a contextualized approach and a commercial focus, and remains the serious student's textbook of choice.
  private express trust: Trusts and Modern Wealth Management Richard C. Nolan, Kelvin F. K. Low, Tang Hang Wu, 2018-05-31 New essays by leading figures from the judiciary, practicing lawyers and academics illuminating the worlds of trusts and wealth management.
  private express trust: Unlocking Equity and Trusts Mohamed Ramjohn, 2019-05-21 The extensively updated seventh edition of Unlocking Equity and Trusts will help you grasp the main concepts of Equity and Trusts with ease. Using straightforward language and explaining the law in a clear manner, it provides an excellent foundation for learning and revising. Each chapter in the book contains: Aims and objectives; Activities such as self-test questions; Charts of key facts to consolidate your knowledge; Diagrams to aid memory and understanding; Prominently displayed cases and judgements; Chapter summaries; Essay questions with answer plans; Glossary of legal terms. The Unlocking the Law series is designed specifically to make the law accessible to students coming to study a topic for the first time. All titles in the series follow the same formula and include the same features so students can move easily from one subject to another.
  private express trust: Trusts in Latin America Nicolas Malumian, 2009-10-16 The growing interest in investment in Latin America - particularly in commodities production and real estate development - has increased the use of trusts as investment vehicles throughout Latin America. Written for the English-speaking practitioner, the book covers Argentina, Belize, Bolivia, Brazil, Chile, Colombia, Costa Rica, Ecuador, El Salvador, Guatemala, Honduras, México, Panamá, Paraguay, Perú, Uruguay and Venezuela and provides a practical, clear, and thorough explanation of trusts as legal vehicles for investment in Latin American countries. Trusts in Latin America provides a comprehensive, comparative review of statutes, case law, and examples of trusts in Latin America, and also highlights differences between these countries and common-law systems.
  private express trust: The Law of Trusts , 1990
  private express trust: Philosophical Foundations of the Law of Express Trusts , 2023-11-30 The trust is a highly popular mode of property-holding and one of the most important innovations in the law of equity. It presents the jurist with numerous conceptual, doctrinal, and ethical challenges. In addition to being used towards the pursuit of good, trusts have also been used for ill, and the interaction of trust law with other laws agitates received principles of justice, efficiency, and coherence in the law. Trust law remains, nevertheless, under-theorized. While its technical and doctrinal aspects have been studied intensively, the foundational questions to which they give rise have remained largely unexamined. This volume takes an important step towards filling this gap. The chapters in this book explore some of these quandaries with a view to initiating and encouraging further engagement and learning. They identify different challenges and adopt a variety of methodological approaches and perspectives towards their resolution, ranging from conceptual questions about what is 'the trust' and 'trusts law', chapters analysing the legal and/or moral statuses of each of the settlor, trustee, and beneficiary, to chapters questioning the moral foundations of different trusts and range of pursuits towards which parties have deployed them.
  private express trust: A Fire Upon the Deep Vernor Vinge, 2013-01-24 Thousands of years hence, many races inhabit a universe where a mind's potential is determined by its location in space - from superintelligent entities in the Transcend, to the limited minds of the Unthinking Depths, where only simple creatures and technology can function. Nobody knows what strange force partitioned space into these 'zones of thought', but when the warring Straumli realm use an ancient Transcendent artefact as a weapon, they unwittingly unleash an awesome power that destroys thousands of worlds and enslaves all natural and artificial intelligence. Fleeing the threat, a family of scientists, including two children, are taken captive by the Tines - an alien race with a harsh medieval culture - and used as pawns in a ruthless power struggle. A rescue party, not entirely composed of humans, must free the children - and retrieve a secret that may save the rest of interstellar civilization.
  private express trust: International Taxation of Trust Income Mark Brabazon, 2022-06-30 In International Taxation of Trust Income, Mark Brabazon establishes the study of international taxation of trust income as a globally coherent subject. Covering the international tax settings of Australia, New Zealand, the UK, and the US, and their taxation of grantors/settlors, beneficiaries, trusts, and trust distributions, the book identifies a set of principles and corresponding tax settings that countries may apply to cross-border income derived by, through, or from a trust. It also identifies international mismatches between tax settings and purely domestic design irregularities that cause anomalous double- or non-taxation, and proposes an approach to tax design that recognises the policy functions (including anti-avoidance) of particular rules, the relative priority of different tax claims, the fiscal sovereignty of each country, and the respective roles of national laws and tax treaties. Finally, the book includes consideration of BEPS reforms, including the transparent entity clause of the OECD Model Tax Treaty.
  private express trust: Trust Taxation Emma Chamberlain, Chris Whitehouse, 2011 Trust Taxation covers the taxation of UK resident and non-resident trusts explaining in detail the income tax, capital gains tax and inheritance tax treatment of the various different types of trusts. The book covers the tax consequences of creating and ending a trust, as well as the tax issues to consider during the lifetime of each type of trust and on distributions to beneficiaries. Part 1 contains an overview of trust law including recent case law on Hastings Bass, the categorisation of foreign entities, the new domicile and residence proposals and case law on residence and domicile generally. It also summaries the tax rules for foreign domiciliaries. Parts 2 to 4 explain the relevant legislation in detail as it relates to trusts, including discussion of entrepreneurs' relief, rollover relief, reservation of benefit, excluded property and relevant property trusts. Part 5 deals with special situations, including the family home, chattels, employee benefit trusts, pilot trusts, bare trusts, disabled trusts, will drafting, variations, business property relief and agricultural property relief, divorce and trusts.
  private express trust: Switzerland's Direct and International Taxation of Private Express Trusts Robert J. Danon, 2004
  private express trust: Trends in Contemporary Trust Law A. J. Oakley, 1996 Rev. versions of papers originally presented at a conference held on Jan. 6-7, 1996 in Cambridge, U.K.
  private express trust: Radical Candor Kim Malone Scott, 2017-03-28 Radical Candor is the sweet spot between managers who are obnoxiously aggressive on the one side and ruinously empathetic on the other. It is about providing guidance, which involves a mix of praise as well as criticism, delivered to produce better results and help employees develop their skills and boundaries of success. Great bosses have a strong relationship with their employees, and Kim Scott Malone has identified three simple principles for building better relationships with your employees: make it personal, get stuff done, and understand why it matters. Radical Candor offers a guide to those bewildered or exhausted by management, written for bosses and those who manage bosses. Drawing on years of first-hand experience, and distilled clearly to give actionable lessons to the reader, Radical Candor shows how to be successful while retaining your integrity and humanity. Radical Candor is the perfect handbook for those who are looking to find meaning in their job and create an environment where people both love their work, their colleagues and are motivated to strive to ever greater success.
  private express trust: Ask a Manager Alison Green, 2018-05-01 'I'm a HUGE fan of Alison Green's Ask a Manager column. This book is even better' Robert Sutton, author of The No Asshole Rule and The Asshole Survival Guide 'Ask A Manager is the book I wish I'd had in my desk drawer when I was starting out (or even, let's be honest, fifteen years in)' - Sarah Knight, New York Times bestselling author of The Life-Changing Magic of Not Giving a F*ck A witty, practical guide to navigating 200 difficult professional conversations Ten years as a workplace advice columnist has taught Alison Green that people avoid awkward conversations in the office because they don't know what to say. Thankfully, Alison does. In this incredibly helpful book, she takes on the tough discussions you may need to have during your career. You'll learn what to say when: · colleagues push their work on you - then take credit for it · you accidentally trash-talk someone in an email and hit 'reply all' · you're being micromanaged - or not being managed at all · your boss seems unhappy with your work · you got too drunk at the Christmas party With sharp, sage advice and candid letters from real-life readers, Ask a Manager will help you successfully navigate the stormy seas of office life.
  private express trust: Special Disability Trusts , 2007
  private express trust: The Five Love Languages Gary Chapman, 2009-12-17 Marriage should be based on love, right? But does it seem as though you and your spouse are speaking two different languages? #1 New York Times bestselling author Dr. Gary Chapman guides couples in identifying, understanding, and speaking their spouse's primary love language-quality time, words of affirmation, gifts, acts of service, or physical touch. By learning the five love languages, you and your spouse will discover your unique love languages and learn practical steps in truly loving each other. Chapters are categorized by love language for easy reference, and each one ends with simple steps to express a specific language to your spouse and guide your marriage in the right direction. A newly designed love languages assessment will help you understand and strengthen your relationship. You can build a lasting, loving marriage together. Gary Chapman hosts a nationally syndicated daily radio program called A Love Language Minute that can be heard on more than 150 radio stations as well as the weekly syndicated program Building Relationships with Gary Chapman, which can both be heard on fivelovelanguages.com. The Five Love Languages is a consistent New York Times bestseller - with over 5 million copies sold and translated into 38 languages. This book is a sales phenomenon, with each year outselling the prior for 16 years running!
  private express trust: Trusts Law Graham Moffat, 2005-09-29 With its unique contextual emphasis and authoritative commentary, Trusts Law: Text and Materials is a book that no serious undergraduate on trust law courses can afford to be without. The book is divided into four main parts: trusts and the preservation of family wealth; trusts and family breakdown; trusts and commerce; and trusts and non-profit activity. Within each of these parts, leading cases, statutes, and historical and research materials are placed alongside the narrative of the author's text to give emphasis both to general theories of trust concepts and to the practical operation of trusts. Attention is also given to important themes such as the developing relationship between trusts law and other areas of private law such as the Law of Restitution. This new edition takes account of all relevant judicial and legislative developments since the third edition, and expands discussion of key themes in current developments of the law.
  private express trust: A Sourcebook on Equity and Trusts in Australia Michael Bryan, Simone Degeling, Scott Donald, Vicki Vann, 2019-10-02 The second edition of A Sourcebook on Equity and Trusts in Australia follows the structure of the second edition of Equity and Trusts in Australia and provides a selection of primary legal materials with accompanying commentary and discussion, covering the principal areas of equity and the law of trusts taught in Australian law schools. Fully revised and updated, the second edition features a new chapter on the termination of trusts and includes extracts from recent decisions. Cases have been carefully selected based on the needs of undergraduate law and Juris Doctor students approaching this subject for the first time. Detailed commentary accompanies the case extracts, giving a clear account of the facts and issues considered by the court. Chapters contain problems and discussion questions designed to enhance student learning.
  private express trust: Text, Cases and Materials on Equity and Trusts Mohamed Ramjohn, 2008-06-30 Text, Cases and Materials on Equity and Trusts has been considerably revised to broaden the focus of the text in line with most LLB core courses to encompass equity, remedies and injunctions and to take account of recent major statutory and case law developments. The new edition features increased pedagogical support to outline key points and principles and improve navigation; 'notes' to encourage students to reflect on areas of complexity or controversy; and self-test questions to consolidate learning at the end of each chapter. New to this edition: is a detailed examination of The Civil Partnership Act 2004 and the Charities Act 2006 important case law developments such as Stack v Dowden (constructive trusts and family assets), Oxley v Hiscock (quantification of family assets), Barlow Clowes v Eurotrust (review of the test for dishonesty), Abou-Ramah v Abacha (dishonest assistance and change of position defence), AG for Zambia v Meer Care & Desai (review of the test for dishonesty), Horley Town Football Club (gifts to unincorporated association), Re Loftus (defences of limitation, estoppel and laches), Templeton Insurance v Penningtons Solicitors (Quistclose trust and damages) and many more are new chapters on the equitable remedies of specific performance, injunctions, rectification, rescission and account are extracts from the Law Commission’s Reports and consultation papers on ‘Sharing Homes’ and ‘Trustee Exemption Clauses’ as well as key academic literature and debates. The structure and style of previous editions have been retained, with an emphasis on introductory text and case extracts of sufficient length to allow students to develop analytical and critical skills in reading legal judgments. Substantial author commentary helps the text give the flow, coherence and direction of a textbook whilst providing the reader with a wide range of primary and secondary material from a variety of sources. A supporting Companion Website provides twice-annual updates to the cases and legislation discussed within the text; answers to the questions contained within the text, and sample essay questions. http://www.routledgecavendish.com/textbooks/9780415442947
  private express trust: Constructive and Resulting Trusts Charles Mitchell, 2010-03-03 Constructive and resulting trusts have a long history in English law, and the law which governs them continues to develop as they are pressed into service to perform a wide variety of different functions, for example, to support the working of express trusts and other fiduciary relationships, to allocate family property rights, and to undo the consequences of commercial fraud. However, while their conceptual flexibility makes them enormously useful, it also makes them hard to understand. In the twelve essays collected in this volume, the authors shed new light on various aspects of the law governing constructive and resulting trusts, revisiting current controversies, bringing new historical material to the fore, and offering new theoretical perspectives.
  private express trust: Fault Lines in Equity James Glister, Pauline Ridge, 2012-05-18 Equity, the body of law developed in the English Court of Chancery, has a long and distinguished history. In the twenty-first century it continues to be an important regulator of both commercial and personal dealings, as well as informing statutory regulation. Although much equitable doctrine is settled, there remain some intractable problems that bedevil lawyers across jurisdictions. The essays in this collection employ new historical, comparative and theoretical perspectives to cast light on these fault lines in equitable doctrine and methodology. Leading scholars and practitioners from England, Australia and New Zealand examine such contentious topics as personal and proprietary liability for breaches of equitable duties (including fiduciary duties), the creation of non-express trusts, equitable rights in insolvency, the fiduciary 'self dealing' rule, clogs on the equity of redemption, the distribution of assets on family breakdown, and the suitability of unjust enrichment analysis. The authors address specific doctrinal questions as well as the 'meta' issues of organisation and methodology, and their findings will be of value to academics and practitioners alike.
  private express trust: Rationalising Constructive Trusts Ying Khai Liew, 2017-09-21 Constructive trusts significantly interfere with the rights of an apparent legal owner of property. This makes it necessary for their imposition to be properly explained and justified. Unfortunately, attempts to rationalise constructive trusts as a whole-as opposed to specific doctrines or particular aspects of constructive trusts-have been few and far between. Rationalising Constructive Trusts proposes a new structure for a coherent understanding of constructive trusts. By using a combination of conceptual tools, it provides answers to a number of crucial questions, for example: What are the ingredients of a constructive trust claim? What are the limits of constructive trusts? How can we rationalise the imposition of constructive trusts in particular situations? Why do judges exercise varying degrees of remedial discretion in different doctrines? From a wider perspective, the structured understanding helps us to appreciate the precise ambit and role of express, constructive, and resulting trusts.
  private express trust: A Guide to the Trusts of Land and Appointment of Trustees Act 1996 Judith-Anne MacKenzie, Andrew D. Walker, Peter Walton, 1998 This text is an in-depth analysis of what is considered by some as one of the most significant changes to the Law of Property Act since its inception.
  private express trust: Essays in Equity Paul D. Finn, 1985
  private express trust: Principles of the Law of Trusts Harold Arthur John Ford, William A. Lee, 1983-01-01
  private express trust: Interpretation of Testamentary Documents Gino Evan Dal Pont, 2019 Interpretation of Testamentary Documents is a practical and accessible guide for legal practitioners on matters where the testator¿s intention is not made clear. With uncertainty possibly infecting the property the subject of succession, the persons who may take that property, or the shares to be taken by those persons, this text provides an invaluable resource for practitioners requiring guidance on these matters. Features ¿ Essential reference for all practitioners engaged in estates law ¿ Clear and practical guide ¿ Multi-jurisdictional ¿ Highly esteemed author
  private express trust: Legal Accounting Handbook , 1996
  private express trust: Equity and the Law of Trusts Philip Henry Pettit, 1979
  private express trust: Indian Accent Manish Mehrotra, 2016 Indian Accent showcases inventive Indian cuisine by complementing the flavours and traditions of India with global ingredients and techniques. Chef Manish Mehrotra has designed the menu of Indian Accent. The original restaurant opened in 20098 ad The Manor, New Delhi, to significant acclaim for its path-breaking approach to contemporary Indian food. It moved to The Lodhi in 2017. Indian Accent, New Delhi, has won several awards and global recognition, including being the only restaurant from India on the World's 100 Best list since 2015. It is also part of the Time Magazine, 100 Great Destinations in the World. It opened in New York in 2016 and in London in 2017 to critical and popular acclaim. -- Front flap.
  private express trust: The New Zealand Law Reports , 2002
Express Trusts Under the Common Law - We The People …
Express Trusts Under the Common Law. Author. Alfred D. Chandler, Esq. Subject. Report to the Massachusetts Tax Commissioner.

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What becomes clear from this definition is that the Express Trust is not merely a property interest held by one for the benefit of another like any basic trust. Rather, it is a trust created by private …

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A private express trust may be terminated by the settlor, with the consent of all beneficiaries, or by the court in certain circumstances, such as if the trust purpose has been fulfilled or has …

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Express trusts arise when a person, the settlor, actually intends to create a relationship that amounts to a trust, and expresses such an intention in a manner and for persons or purposes …

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What becomes clear from this definition is that the Express Trust is not merely a property interest held by one for the benefit of another like any basic trust. Rather, it is a trust created by private …

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An express trust under common law is a type of trust organized by virtue of natural rights exclusive of all statutorily created privileges. Common Law is what governs how people …

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The Grantor shall execute such further instruments as shall be necessary to vest the Trustees with full title to the property which is the subject of this Agreement. FIFTH: In the …

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An express trust has several components: The three certainties: Certainty of intention. Certainty of subject matter (trust property) Certainty of object (beneficiary/purpose) Formalities under PLA …

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Express Trusts, Private Law Theory and Legal Concepts Duncan Sheehan Abstract: The paper explores Peter Jaffey’s views on the trust and fusion and some aspects of his wider private law …

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planning and revocable trust planning are viable, useful tools. For some clients, a revocable trust may be more appropriate; for others, the will should be the key dispositive document. II. THE …

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In this paper, I will refer to trustees of a private express trust as "private trustees" to distinguish them from other types of fiduciaries, including trustees of charitable trusts and corporate …

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Abstract. This paper explores Peter Jaffey’s views on the trust and fusion and some aspects of his wider private law theory which impact on his view on trusts law. It shows that, although he is …

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A. Private Trusts Express trusts may be categorized as either private trusts or chari-table trusts.13 A private trust is typically created when a settlor transfers property to a trustee for the use and enjoyment of one or more benefici-aries.14 Under traditional …

Foreign Trusts for U.S. Beneficiaries - Northern Trust
U.S. situs assets. At the settlor’s death the trust would become irrevocable, be domesticated as a U.S. trust, and continue for the benefit of the U.S. beneficiaries. 4. Because the trust is both a foreign trust and a grantor trust, neither the trust nor the settlor is taxed on nonU.S. source - income during the settlor’s lifetime.

THE REVOCABLE LIVING TRUST - Legal Templates
Revocable Living Trust, to be known as “The _____ [Grantor] Revocable Living Trust” (this “Trust”). PART II TRUST PROPERTY. The Grantor has, or upon the execution of this Trust immediately will, transfer the assets listed in Schedule A hereto as a gift and without consideration. PART III PURPOSE OF TRUST. A.

A Critical Study on whether the Single Asset Theory is
Applicable in the Creation of Private Express Trust in Malaysia . John Chuah Chong Oon. 1, Jan Ling Ling. 2. 1. Faculty of Law, Universiti Teknologi MARA, 40450 Shah Alam, Selangor, Malaysia. 2. Institute of Research Management & Innovation, Universiti Teknologi MARA, 40450 Shah Alam, Selangor, Malaysia. Abstract

CHAPTER 13: CLASSIFICATION OF RUSTS THE IVING
private express trust 6. A savings account in which money is deposited in the depositor’s name as trustee for another person named as beneficiary and is payable upon the death of the depositor 7. A trust made between living persons 8. A trust that may not be amended, revoked, or canceled after its creation

Express Trusts, Private Law Theory, and Legal Concepts
Express Trusts, Private Law Theory, and Legal Concepts Duncan Sheehan University of Leeds, UK Abstract This paper explores Peter Jaffey’s views on the trust and fusion and some aspects of his wider private law theory which impact on his view on …

IN THE SUPREME COURT OF CALIFORNIA - GMSR
In this proceeding for an accounting, the successor trustee of a private express trust seeks to discover from the predecessor trustee documents reflecting confidential communications between the predecessor and an attorney on matters of trust administration. The question before us is whether the predecessor trustee

“Foreign Grantor Trust” – a Primer - Anaford
jurisdictional aspects of the trust planning and confer with qualified in-country tax counsel. What is a “Foreign Grantor Trust”? The term “foreign grantor trust” is a U.S. term meaning that a trust satisfies a particular tax status under the U.S. tax rules. “oreign” (i.e., non-U.S.) means that

TRUST PLANNING - mnjslaw.com
TRUST PLANNING Robert K. Kroney KRONEY MORSE LAN, P.C. 1210 Three Forest Plaza 12221 Merit Drive Dallas, TX 75251 972/386-8500 bkroney@kmllaw.com ... Private Express Trusts. The private express trust is a unique concept and one that is frequently misunderstood by members of the public and practitioners

A Proposal for Flexibility in Private and Public Express Trust …
118 Gillen, Flexibility in Private and Public Express Trust Enforcement for the enforcement of certain non-charitable purpose trusts as trusts (i.e. as legally enforceable obligations).This paper draws on this Uniform Trustee Act concept, but recommends expanding the range of potential enforcement for all types of express trusts whether they are for non-

Schedule 2 business: Private Trust Companies & Family Offices
Express Trust A trust created by the express declaration of a settlor or a trustee made orally, by instrument in writing or by will. PTC Private Trust Company Schedule 2 Schedule 2 to the Proceeds of Crime (Jersey) Law 1999 1. Why has Schedule 2 been amended? Jersey has a long-standing commitment to comply with the international standards ...

THE TRUST RES AND DONATIVE INTENT - SSRN
to create a private express trust than are necessary to create wills or contracts, or to make inter vivos gifts.I Indeed, in many cases, "[n]othing more than the manifestation of intention to create such a trust is necessary."i Most frequently, the donor manifests his intent to create a trust by actually transferring

THE THREE CERTAINTIES REQUIRED TO DECLARE A …
The “three certainties” required to declare an express private trust were fam-ously stated by Lord Langdale M.R. in Knight v Knight.1 The settlor must indicate with certainty: (1) intention – that a trust was intended; (2) subject matter – the property …

TRUST REGISTRATION SERVICE LEGAL SECTOR …
Customs’ (‘HMRC’) own guidance and the Trust Registration Manual for those purposes. Private client lawyers are also referred to the Law Society’s separate guidance on ‘Trust Registration issues in non-Corporate Transactions’. ... In a claim that an express trust exists, the first thing to ask is whether there is a written trust. A ...

The Trust in Liechtenstein Law - doc1.bibliothek.li
Sections 2.2 to 2.2.3 in Liechtenstein trust law 39 The private express trust ('die rechtsgeschaftlich zugunsten bestimmter Personen errichtete Treuhanderschaft') in English and Liechtenstein trust law 51 Preliminary comments relating to the private express trust of English law, the typical trust with foundation characteristics, the atypical ...

THE QUISTCLOSE TRUST: INTENTION EXPRESS …
The Quistclose Trust: Intention and the Express Private Trust 'To speak of a Quistclose trust as if it were a new legal institution, rather than an example of the particular operation of principle upon the facts as found, is to set the listener or reader off on a false path.'"

ODDBALL TRUSTS AND THE LAWYERS WHO LOVE THEM
An express trust is created when a grantor intentionally transfers legal ownership of property to a trustee for the benefit and enjoyment of a benefi- ... 1. Traditional, private express trusts that are funded by a grantor (the-oretically, at least, with donative intent), held by a trustee, and having bene-ficiaries. These include alimony and ...

Foreign Trusts, 1998 - Internal Revenue Service
foreign trust returns reflects both the substan-tial and increasing interest in foreign invest-ment by U.S. taxpayers and the new information reporting requirements for foreign trust activity that were instituted by the Small Business Job Protection Act of …

EQUITY AND TRUSTS A Student s Guide to - Cambridge …
6 Formalities for the Creation of a Trust 86 Key Points 86 6.1 Introduction 87 6.2 The Creation of an Express Trust 87 6.3 The Role of Formalities in the Creation of a Trust 88 6.4 Who Has the Capacity to Create a Trust? 88 6.5 What Formalities Are Necessary in the Creation of a Trust? 90 6.6 A Lifetime Trust of Realty and the Other Property 90

The Revolution and Legacy of the Discretionary Trust - SSRN
Mar 14, 2018 · The express private trust, and specifically the discretionary express private trust, was the subject of two important developments in the late 1960s and early 1970s that significantly broadened its scope and, as we will argue herein, continue to have a profound effect on the law of trusts and on how the express trust is conceptualised.

TRUST LITIGATION The Enforcement of Beneficiary Rights
Dec 7, 2019 · The terms of the trust communicate the settlor's intent which intent is the lodestar of trust interpretation: "The phrase 'terms of the trust' means the manifestation of intention of the settlor with respect to the trust provisions expressed in a manner that admits of its proof in judicial proceedings."4 Obviously this definition casts a wide net,

CHAPTER 701
(6) A trust created by a depository agreement with a financial institution. (7) A trust made in connection with a business transaction, including a trust created under a bond indenture or collateral trust agreement or in connection with a structured finance transaction, a common law trust under s. 226.14, or a business trust. (8) A voting trust.

An Introduction to Trust Law in Singapore 1 Characteristics of ...
An express trust is a trust which is expressly created to achieve certain desired consequences. The usual pattern of an express trust is as follows: a settlor transfers trust property to the trustee on trust for the beneficiaries and specifies the terms of the trust. A settlor may also declare himself or herself to be a trustee for the ...

BENEFICIAL OWNERSHIP AND TRANSPARENCY OF …
This Guidance is aimed at all stakeholders from public and private sectors that regulate, supervise, enforce, form, manage or administer trusts or similar legal arrangements. It focuses on R.25 requirements and addresses the trustspecific - ... to an express trust. Express trusts . 9. The term e xpress trusts (hereinafter, “trusts”) is ...

The Public Trust Doctrine: A Primer - University of Oregon
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Justifying Anglo-American Trusts Law - William & Mary
basis that charitable trusts are radically different from private express trusts . 2021] JUSTIFYING ANGLO-AMERICAN TRUSTS LAW 689 to detach express trusts, which are said to be “intention-based”, ... trust is a public law–private law hybrid in the general sense that it represents the adaptation of a private law institution to a

Statement of Amy Morris Hess Before the ERISA Advisory …
held in a private express trust. Although many states have extended the perpetuities period substantially and some have even abolished it, most property owners do not place property in trust for longer than a generation or two. After that, the …

Living In The Private - Educated in Law
Acting in a “Public Capacity” Living in “Private Capacity” “Member of the Public” “We the People” Legal Fictions Lawful facts Private: To be “in the private” is to “live” in a “private capacity” as a Man or Woman, with flesh and blood, arms and legs, a conscious mind, a spirit, and Life. All Men and Women are

Trust EIN Tax ID Instructions - You Are Law.org
It has been deemed necessary by the Board of Trustees of [TRUST NAME] to assign a Third-Party Designee (TPD) to apply for and receive an Employee Identification Number (EIN) for opening a bank account as a foreign entity. It is hereby determined that, since this private express trust organization, acting through the

An Agency Costs Theory of Trust Law - University of Michigan
An Agency Costs Theory of Trust Law - 1 - INTRODUCTION Agency cost theories of the firm dominate the modern literature of corpo-rate law and economics.1 Meanwhile the private express trust, an entity to which the corporation traces its roots,2 has been left largely untouched by sys- tematic agency costs analysis.3 Yet in an echo of the famous Berle and Means

Ohio State Bar Association for Legal Professionals | OSBA
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U.S. SITUS FOREIGN TRUSTS FOR CROSS BORDER …
A grantor trust is a trust that is treated as owned by its grantor under Code §671. A grantor trust, whether foreign or domestic, pays no U.S. income tax. Instead, all of the income, deductions, and credits of the trust are taken into account by the grantor in computing the grantor’s U.S. income tax. GRANTOR TRUST STATUS 11

In the United States Court of Federal Claims
Plaintiffs Double Lion Uchet Express Trust (“Double Lion”), 1. Ra Nu Ra Khuti Amen Bey, 2. ... The term “private banker’s acceptance” is used in their appendix in connection with numerous federal and state court orders for which plaintiffs apparently seek redress in the form of monetary relief. Compl. App. 2-6, 473-618, 627-42, 673 ...

SAMPLE IRREVOCABLE TRUST DECLARATION OF …
trust estate the property more particularly described in Schedule A hereto, to hold the same, and any other property which the Trustees hereafter may acquire, IN TRUST, for the purposes and upon the terms and conditions hereinafter set forth: FIRST: The Trustees shall hold, manage, invest and reinvest the trust estate, shall collect

TRUST TRUST, Black's Law Dictionary (11th ed. 2019) …
- active trust. (1827) A trust in which the trustee has some affirmative duty of management or administration besides the obligation to transfer the property to the beneficiary. — Also termed express active trust; special trust; operative trust. Cf. passive trust. - Alaska trust. See asset-protection trust (1). - alimony trust.

THE 21ST CENTURY TRUST: AN EVOLVING CONCEPT
Although the express trust is a common law concept, the Texas legislature codified much of Texas’ law of trusts into the Texas Trust Act 1941in (effective April 19, 1943, Article 7425b 1-47, Vernon’s Texas Civil Statutes). Effective January 1, 1984, a major substantive revision to

Private Express Trust - netsec.csuci.edu
A private express trust is a legal arrangement where one party (the settlor) transfers ownership of assets to another party (the trustee) to hold and manage for the benefit of a third party (the beneficiary). The key characteristics that distinguish a private express trust are:

Private Trust Companies: Creating the Ideal Trustee
A private trust company (PTC) is an entity customarily owned by one family and created specifically to serve as the trustee for trusts created by that family, and to serve as the family’s fiduciary in certain other contexts, such as an Private Trust Companies: Creating the Ideal Trustee

1 Trusts: the essentials - .NET Framework
case the private express trust for the benefit of human or corporate beneficiaries, where the trustee voluntarily agrees to take up the respons- ... range of private express trusts, there are additional features essential for 2 See, for example, Uniform Trust Code [UTC], s. 105(b)(3); Restatement (Third) of Trusts

CED: An Overview of the Law - Westlaw Canada
An express trust may arise by operation of law or by intention, in word or deed, of the settler. The constituent elements of settlor, trustee, beneficiary and trust property as well as the absence of legislative bars to trust formation must be found for court to declare that an express trust exists.

Contents
Trustees manage the trust property and follow the settlor’s wishes as expressed to them in the trust deed and the letter of wishes. Beneficiaries . The main right of the beneficiaries under a trust is their right to enjoy their interest in the trust property. In the case of breach of a private trust, the beneficiaries may bring an action in ...

Private Express Trust [PDF] - admissions.piedmont.edu
Private Express Trust: Philosophical Foundations of the Law of Express Trusts ,2023-11-03 The trust is a highly popular mode of property holding and one of the most important innovations in the law of equity It presents the jurist with numerous conceptual

WILLS AND REVOCABLE TRUSTS – WHAT’S BEST FOR …
revocable trust may be more appropriate; for others, the will should be the key dispositive document. II. THE BASICS One noted authority describes the private express trust as "... a device for making dispositions of property. And no other system of law has for this purpose so flexible a tool. It is this that makes the trust unique. . . .

TRUST SETTLEMENT PROCESS
TRUST SETTLEMENT IS THE PROCESS OF SETTLING AN ESTATE THROUGH A TRUST IN ADDITION TO OR RATHER THAN A WILL. YOUR FINANCIAL ADVISOR WILL LEAD YOU THROUGH THE PROCESS WITH THE EXPERTISE OF THE PRIVATE TRUST COMPANY, N.A. (PTC). We are committed to delivering administrative trust services in a seamless …

MARITAL PROPERTY CHARACTERIZATION OF …
II. MARITAL PROPERTY CHARACTERIZATION The Supreme Court of Texas in Arnold v. Leonard, 114 Tex. 535, 273 S.W. 799 (1925) and Kellett v.Trice, 95 Tex. 160, 66 S.W. 51 (1902) made it clear to practitioners and the legislature that it is the

NONPROBATE AND PROBATE DISPOSITIONS OF …
Nonprobate and Probate Dispositions of Community Property M-ii A. Probate v. Nonprobate ...

Using a testamentary trust in your estate planning - TD
TD Wealth Private Trust (offered by The Canada Trust Company). All trademarks are the property of their respective owners. ® The TD logo and other trade-marks are the property of The Toronto-Dominion Bank. 09/2019 Considerations Work with your TD advisor to review how the following fits into your overall Wealth plan;

RESULTING TRUSTS IN CANADA - CanLII
thing subject to that right. Where a right to land is to be held in trust, the intention to create that trust must be manifest in writing and signed by the settlor. Testamentary express trusts must be created in a manner which complies with the formalities required for the creation of wills. Other rights can be settled in trust informally.

Supreme Court of the United States
Double Lion Uchet Express Trust filed a complaint at the United States Court of Federal Claims seeking $419,000,000: $15,000,000; and 419,000,000; respectively. The complaint stated that it was ... private banking contracts between the co-plaintiffs and the agent(s) representing the UNITED STATES INCORPORATED”; that co-plaintiffs were “here ...

MARITAL PROPERTY CHARACTERIZATION AND …
MARITAL PROPERTY CHARACTERIZATION AND REIMBURSEMENT AND FRAUD ON THE COMMUNITY Thomas M. Featherston, Jr. 3 when a party first has a right of claim to the