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Discretionary trusts are trusts which require that the trustees exercise their powers, in the same way as a fixed trust, but allow some discretion in how to do so, in a similar manner to mere powers. Since trustees hold the discretionary power to choose how to act under an established boundary set out by the settlor of a trust, evidential ...
Knight v Knight (1840) 49 ER 58 is an English trusts law case, embodying a simple statement of the "three certainties" principle. This has the effect of determining whether assets can be disposed of in wills , or whether the wording of the will is too vague to allow beneficiaries to collect what appears on the face of the will to be theirs.
Paul v Constance [1976] EWCA Civ 2 / [1977] 1 W.L.R. 527 is an English trust law case. It sets out what will be sufficient to establish that someone has intended to create a trust, the first of the "three certainties".
Three certainties Hunter v Moss [1994] 1 WLR 452 is an English trusts law case from the Court of Appeal concerning the certainty of subject matter necessary to form a trust. Moss promised Hunter 50 shares in his company as part of an employment contract, but failed to provide them.
The case fundamentally restated the law in relation to certainty of objects for discretionary trusts, one of the three certainties required to form a trust. [ 2 ] For a trust to be valid, "It is clear law that a trust (other than a charitable trust ) must be for ascertainable beneficiaries".
Certainty refers to the three certainties required for a trust to be valid. The trust instrument must show certainty of intention to create a trust, certainty of what the subject matter of the trust is, and certainty of who the beneficiaries (or objects) are. Where there is uncertainty for whatever reason, the trust will fail, although the ...
However, she testified that the trust owes $60 million, adding that money was borrowed from Valade's 1982 revocable trust to keep the 2009 irrevocable trust alive.
There are no formal difficulties. The property concerned is pure personalty, and so writing, though desirable, *282 is not an essential. There is no doubt about the so-called “three certainties” of a trust. The subject-matter to be held on trust is clear, and so are the beneficial interests therein, as well as the beneficiaries.