Limitations on Trusts Flashcards
1
Q
Real Property Limitations for Trusts
A
A trust for real property must be in writing and signed by either the trustee or settlor or their authorized agent.
2
Q
Oral Trust Limitations
A
The existence of an oral trust of personal property may be established by clear and convincing evidence.
3
Q
21 year maximum for Trustee
A
The trustee may perform as trustee for a non-charitable purpose or unincorporated society for only 21 years after the settlor’s death regardless of the terms of the trust.
4
Q
Invalidation
A
The execution or revocation of a trust is ineffective to the extent that it was procured by duress, menace, fraud or undue influence.
