Trusts and Future Interests

Question 1

What is required to create a valid trust?

Answer 1

Settlor, intent, valid trust purpose, delivers trust property, to trustee for beneficiaries

Question 2

What happens when there are no trust assets when the instrument is executed?

Answer 2

Trust arises in the future only if when the assets come into existence the settlor manifests anew an intentions to create a trust. (this is not required if the promise to create trust is supported by valid consideration).

Question 3

Merger of title

Answer 3

Results in termination of a trust where the sole trustee is also the sole beneficiary