Question: Geraldine has executed a trust deed in respect of part of her large fortune. She also made a Will six months before she died........Advise the potential beneficiaries in relation to the distribution of Geraldine's Estate, setting out the equitable principles and supporting your advice with authorities.
Answer: For me to advise the potential beneficiaries in relation to Geraldine’s estate, I will have to look at the equitable principles and supporting authorities.
“A trust arises where ownership of property is transferred by a person, to trustee to be managed or dealt with for the benefit of the beneficiaries or a charitable purpose; such property is not part of the trustees’ patrimony but is a separate fiduciary patrimony not available for the trustees private creditors, spouse or heirs.”
Trusts can be classed into four types: express , resulting , constructive and statutory trust ....(short extract)
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- Subject: Law
- Course: Equity and Trust Law
- Level: Degree
- Year: 2nd/3rd
- Mark: 70%
- Words: 2982
- Date submitted: January 29, 2009
- Date written: January, 2007
- References: Yes
- Document type: Essay*
- Essay ID: 444
