property

Question 1

Sufficient Trust Property

Answer 1

The trust property must be an existing interest in existing property. A future interest may be held in trust, but an interest not yet in existence (that is, a mere expectancy such as the right to inherit from a person who is still alive) cannot be held in trust.

Question 2

trust res

Answer 2

Future profits from an existing contract can be a trust res. The trust res must be existing property that the settlor has the power to convey, including intangibles (for example, promissory notes) in which the settlor has an assignable interest.

Question 3

Trust Res Must Be Segregated from Other Property

Answer 3

The res must be identifiable and segregated, but the res may be a fractional or undivided interest in specific property