Definition

Types of Trusts

Method to Creating a Trust

Formal Requisites of Trust Creation

Settlor

Delivery

Trust Property

Promise to Create a Trust

Trustee

Note: What if fail to name trustee?

Can compel a trustee?

How can Trustee Resign

Trustee by Estoppel

Beneficiaries

Resulting Trust

Intent to Create a Trust

Lawful Purpose

Three trust purposes prohibited by law

Restraints on Marriage

Writing

Revocability

Distinct Rules Applicable to Charities

Cy Pres

Cy Pres Perpetuities Reform Statue

Charitable Cy Pres

Standing for Charitable Trust

Purchase Money Resulting Trust

Constructive trust

Spendthrift Trust

Exceptions to Spendthrift

When Can Creditor Reach Money

Any interest retained by Settlor

Trust Principal

Accountign

No Self-Dealings

If trustee breaches any fiduciary duty ex: breach of trust= self-dealing, imprudent investment beneficiary can

Prudence

Support Trust

Anti-General Power of Appointment Statute

Termination

Judicial Modification

Nonjudicial Termination of Uneconomic Trust