Trusts Flashcards
1
Q
Constructive Trust
A
a trust that arises by operation of law whereby the court imposes a trust upon property lawfully held by one party for the benefit of another, as a result of some wrongdoing by the party in possession so as to avoid unjust enrichment
2
Q
Discretionary Trust
A
a trust pursuant to which the trustee is authorized to make decisions regarding the investment of the trust funds and the distribution of such funds to the beneficiaries
