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4 Cards in this Set
- Front
- Back
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Trust elements |
Settlor with capacity to convey Present intent to create a trust Trust res/property 1 or more definite beneficiaries Trustee with duties Valid purpose |
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SoF |
If real property among trust res, SoF requires writing signed by 2 witnesses |
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Testamentary provisions |
If trust has testamentary provisions, must comply with Statute of Wills formalities: in writing; signed by settlor at end, attested to (signed) by 2 witnesses who sign in settlor’s presence and in presence of each other -testamentary capacity: settlor knows nature and extent of her property, people who are natural objects of her bounty |
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Rule Against Perpetuities |
360 years; discuss when see class gift in a trust |
