Purpose Trusts Flashcards
0
Q
Re Astor
A
Exceptions to the beneficiary principle:
- Trusts for the care or maintenance of specific animals
- Trusts for the maintenance of graves and sepulchral monuments
1
Q
What are purpose trusts?
A
Trusts without a beneficiary
2
Q
Re Denley
A
A trust will not be void merely because it is expressed to be for the carrying out of a purpose if it will in fact benefit identifiable individuals who possess sufficient locus standi to enforce it
3
Q
Perpetuity rules
A
Non-charitable purpose trusts must either:
- be limited in duration to 21 years OR
- allow the trustees to spend all the trust capital on the purpose and thereby end the trust at any time
4
Q
Re Recher
A
A gift to an unincorporated association is construed as a gift to its members, as an accretion to the association’s funds to be dealt with in accordance with the rules
5
Q
Re Lipinsky
A
A gift for a purpose can be construed either as a Re Recher gift or a Re Denley trust
