Form-express trusts-trust laws and accounts, Financial Accounting

Form

No special form is normally required for the creation of a trust except that a declaration of trust respecting land or any interest therein must be manifested and proved by some writing signed by some person who is able to declare such trust or by his will:

The following points should be noted:

1) Applies to "land or any interests therein".  No writing is necessary to create an inter vivos trust of pure personality.

2) This does not affect the creation or operation of resulting, implied or constructive trust;

3) A trust caught by this provision need not be declared by writing; it need only be evidenced (i.e. proved by some writing);

4) Absence of writing does not render the declaration of the trust void, merely unenforceable;

5) The writing must contain all the material terms of the trust;

6) The writing must be signed by some person who is able to declare the trust: the signature of an agent is unacceptable;

7) A trust of any property to arise on death must be created by will.

Posted Date: 12/13/2012 5:48:01 AM | Location : United States







Related Discussions:- Form-express trusts-trust laws and accounts, Assignment Help, Ask Question on Form-express trusts-trust laws and accounts, Get Answer, Expert's Help, Form-express trusts-trust laws and accounts Discussions

Write discussion on Form-express trusts-trust laws and accounts
Your posts are moderated
Related Questions
Instructions: The case should be done in your assigned groups. Hand in a brief write-up not exceeding two pages explaining what was done.   In April 198

A company is considering investing some independent proposals, The proposals with their expected net present values and standard deviations are given in the following table.

Balance Sheet Classifications and Relationships: Shelley and Co. has the following balance sheet elements as of December 31, 2012. Land. . . . . . . . . . . . . . . . . . . . . . .

DO ACCOUNTANTS EVER REALLY MAKE IMPORTANT DESIONS?

WILL SOMEONE PLEASE ASSIST ME WITH THIS ASSISGNMENT Preview Company, a diversified manufacturer, has five divisions that operate throughout the United States and Mexico. Preview ha

The Gladys Corporation buys office equipment costing $426,000 on May 12, 2013. In 2015, new and improved models of the equipment make it obsolete, and Gladys sells the old equipmen

The difficulties associated with managing organisations with multiple objectives To the level that an organisation faces a range of stakeholders then they also face multiple ob

Can you combined the PVH & Warnaco Group Balance Sheet after merger?I will an attached the excel worksheet that includes the instructions

explain the types of principles and concepts of financial accountin

Legal Aspects There is no law relating to branch accounts but examination problems under this heading are frequently linked to either partnership or company account problems. Ans