B. Types of Trusts

Question 1

What is required for Testamentary trust to become effective?*

Answer 1

1) Trust created in Will

2) Effective upon Testator’s death

Question 2

What is required for Pour-Over Trust to become effective?*

Answer 2

1) Executed before/at same time as Will

2) Trust
- In writing
- Signed by Creator + at least 1 Trustee
- Acknowledged like deed/Signed by 2 Ws

This allows Testator to pour over assets from Will to Trust

Question 3

Who is entitled to disposition in a Charitable Trust?*

Answer 3

State Attorney General

• Title will pass to Court (who has jurisdiction to appoint Trustee)
• Charitable Trust does NOT require ascertainable Trustee/Beneficiary

Question 4

When will Cy Pres Doctrine apply (when will Court reform Charitable Trust)?*

Answer 4

Gift/Trust is charitable in nature

Will/Trust’s language indicates Donor had general charitable intent (NOT specific)

Gift/Trust’s particular purpose was;

• NOT achieved
• NOT possible
• Impracticable to achieve