Trusts: In General

Question 1

What is a “trust” ?

Answer 1

Trust is a FIDUCIARY RELATIONSHIP w/ respect to SPECIFIC PROPERTY (res) wherein TRUSTEE holds legal title to property subject to enforceable rights of the BENEFICIARY

Question 2

What is a “settlor” ?

Answer 2

Person who creates the trust.

Question 3

Is consideration required to make a trust?

Answer 3

No

Question 4

What are the relevant types of trusts ?

come back to

Answer 4

1. Express Private Trusts
2. Charitable Trusts
3. Resulting Trusts
4. Constructive Trusts
5. Will Substitutes
   - Revocable Inter Vivos Trust
   - Totten Trusts