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Essay / Research Paper Abstract
This 6 page paper looks at a will which results in the creation of several trusts. Each of the bequests is considered to assess if they are valid. These include the bequest of shares to a class that does not yet exist, the use of a lump sum to deal with a vague purpose and the distribution of the residual of the estate to an uncertain class. The paper is written with reference to English law. The bibliography cites 3 sources.
Page Count:
6 pages (~225 words per page)
File: TS14_TEtruwill.rtf
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Unformatted sample text from the term paper:
we need to look at the different items and their treatment individually, these concern trusts and wills. We will look at the trust issues first. However, we will begin
by looking at the relevant issue of trust law that can be applied to the case. For a trust to be valid there are several requirements that need to be
fulfilled. For an express trust there needs to be a declaration made by the owner of the property concerned, the property has to be identifiable as seen with the case
of Westdeutsche Landesbank Girozentrale v Islington LBC (1996). Where the declaration is made the property then needs to be conveyed t the trustees by the settlor to hold on trust
for the beneficiary. However, it is not necessary in all cases that a trust be specifically declared, such as seen with resulting trusts or constructive trusts (Lexis, 2004).
For a trust to be valid when looking at express trusts there are three certainties that are required; the intention, the subject manner and the certainty of the objects. Therefore,
when declaring a trust there is the need for clarity in the words used, whilst it will help if reference is made to the trust and trustees, this is not
vital, as even directing one party to hold it for another may be sufficient, as seen with the case of Re Le Cren Clarke (1995) (Lexis, 2004).
The property has to be identifiable, and the case of Re London Wine (1975) has shown that where the property held is part
of a larger quantity of the same goods the trust will fail as there is not the certainty of the property. However, in some instances this may not be as
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