The Trustee Report
Welcome to The Trustee Report, your go-to resource center for all things trust and estate planning. Here, you'll find in-depth articles, FAQs, step-by-step guides, and expert insights to help you navigate the complexities of trust management with confidence. Stay informed and empowered with the latest updates and trends in estate planning, ensuring your legacy is protected and your loved ones are provided for. Dive in and discover the tools and knowledge you need for a smooth and successful estate planning journey.
Explicit reservation refers to a clear and unambiguous statement or declaration that sets aside or reserves a specific right or interest. This term is commonly used in legal contexts, particularly in ...
The purpose of an express trust can be as simple or as complex as the person creating the trust desires.
For example, an express trust can be created to serve multiple purposes, such as:
- To provid ...
An implied trust is a trust that is created by operation of law, rather than by an express declaration of the trust terms. It arises from the circumstances of a transaction and is inferred from the co...
To draft an express trust, the following elements are typically required:
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Settlor: A person who creates the trust and transfers property to the trust.
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Trust property: Assets that are transfe
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An express trust can be drafted by a variety of individuals or entities, including lawyers, trust companies, financial institutions, and other professionals who specialize in estate planning and trust...