Here is the synopsis of our sample research paper on Simple Trusts. Have the paper e-mailed to you 24/7/365.
Essay / Research Paper Abstract
12 pages in length. In this day and age of being forced to protect one's material and monetary possessions from an onslaught of agencies trying to acquire them during probate, people are smart to enter into a trust where their lifelong earnings and tangible commodities end up exactly where they bequeath them. Many people mistakenly believe that a Last Will & Testament is sufficient enough to protect their possessions from ending up in the hands of government agencies; however, this particular approach is one of the least safeguarding, in that it requires an often long and drawn out probate period where one's possessions are distributed according to how the court sees fit. In order to avert such an undesirable occurrence after one's death, a simple trust must be created for guaranteed peace of mind. Bibliography lists 9 sources.
Page Count:
12 pages (~225 words per page)
File: LM1_TLCSimpT.rtf
Buy This Term Paper »
Unformatted sample text from the term paper:
where their lifelong earnings and tangible commodities end up exactly where they bequeath them. Many people mistakenly believe that a Last Will & Testament is sufficient enough to protect
their possessions from ending up in the hands of government agencies; however, this particular approach is one of the least safeguarding, in that it requires an often long and drawn
out probate period where ones possessions are distributed according to how the court sees fit. In order to avert such an undesirable occurrence after ones death, a simple trust
must be created for guaranteed peace of mind. II. WHAT IS A TRUST? Defining the word "trust" as it relates to bequeathing ones possessions lacks any official or legal
determination; however, even though there is no actually lawful definition, there are a few acceptable meanings depending upon the particular perspective. In general terms, a trust is both binding
and obligatory to the person (trustee) who is taking on the responsibility of protecting another individual or individuals possessions. These interests are protected by the courts equitable jurisdiction everywhere
but in Scotland. A step further up the legal ladder defines a trust a "disposition of property to a person (trustee) or persons jointly (trustees) in whom the legal
title then vests in the confidence that the benefits will be applied to the advantage of one or more other persons (beneficiaries) or some other object permitted by law" (Keeton,
1968, p. PG). Finally, a more elaborate definition finds that a trust makes not differentiation between real or personal property or legal/equitable title, where the actual benefit is to
the beneficiaries (Keeton, 1968). One of the most common questions regarding simple trusts is whether or not the individual loses control over his or her assets. When one names
...