Resulting Trusts

Question 1

Resulting Trust

Answer 1

• who does the trust result to?
• created by law on the presumed intention of the testator

Question 2

when does a resulting trust happen?

Answer 2

• used when an express trust fails
• when trust purpose is completed without exhausting the property
• lack of beneficiary

Question 3

Surplus the Donor or the Beneficiaries?

Answer 3

Donor - intention to be for something specific (abbott trust)
Beneficiaries - if the intention is to be an “absolute gift” (andrew’s trust)

Question 4

Presumption of Advancement

Answer 4

Parents have a duty to set their children up for life
- If a FATHER puts his property in the name of one of his children - assumption of a gift
- advancement is evidence of a gift
- only applies to fathers

Question 5

Overcoming presumption of advancement

Answer 5

show evidence that gift wasn’t intended
- evidence can’t come years later
- has to be at the time of, before, or very close to the time of it being put in the name of the person.