Honorary Trusts Flashcards

1
Q

Honorary Trusts

A

An honorary trust is one that does not qualify as a charitable trust, but lacks definite beneficiaries capable of enforcing it. Trusts of this type ordinarily violate the rules of trust creation (for lack of a definite beneficiary) and RAP (for lack of any limit to their duration). However, most courts and legislatures have permitted such honorary trusts to stand, with the trustee bearing only a moral or honorary obligation to follow the terms of the trust before accepting the property to put to its use.

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2
Q

Types of Honorary Trusts

A

If enforceable, they can include:

  • a trust to provide for the care of an animal alive during settlor’s lifetime (trust terminates at death of animal); or
  • trust to be used for the care of a gravesite
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