Trusts & Wills Flashcards
1
Q
When is equitable deviation from a trust’s provisions allowed?
A
When an unanticipated change in circumstances would defeat or substantially impair the ability to accomplish the purpose of the trust
2
Q
When can an administrative provision in a trust be modified?
A
If continuing on the existing terms would be impracticable or wasteful
3
Q
Can a court change whether a beneficiary receives trust income or trust principal?
A
No under the common law but yes under the uniform trust code.
4
Q
Can a will that was never executed by incorporated by reference?
A
No
5
Q
What happens if a specific gift adeems under: CL, UPC?
A
Common Law: Gift Fails
UPC: give replacement property
6
Q
If you are given a specific gift of stocks, do you get the dividends from those stocks?
A
Yes
