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"Certainty of intention" means that it must be clear that the donor or testator wishes to create a trust; this is not dependent on any particular language used, and a trust can be created without the word "trust" being used, or even the donor knowing he is creating a trust. Since the 1950s, the courts have been more willing to conclude that ...
Precatory words, trust, gift, will Arms of Knight: Argent, three pales gules within a bordure engrailed azure on a chief of the last three spurs or [ 1 ] Knight v Knight (1840) 49 ER 58 is an English trusts law case, embodying a simple statement of the " three certainties " principle.
The creation of express trusts in English law must involve four elements for the trust to be valid: capacity, certainty, constitution and formality. Capacity refers to the settlor 's ability to create a trust in the first place; generally speaking, anyone capable of holding property can create a trust.
Continue reading → The post Trust Tax Rates and Exemptions for 2022 appeared first on SmartAsset Blog. A trust is a legal entity that holds money and assets for future distribution or management ...
Trusts pay taxes. A trust is a legal entity that holds money and assets for future distribution or management. For example, you might create a trust for your children’s college education ...
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In trust law, an express trust is a trust created "in express terms, and usually in writing, as distinguished from one inferred by the law from the conduct or dealings of the parties." [ 1 ] Property is transferred by a person (called a trustor, settlor , or grantor) to a transferee (called the trustee ), who holds the property for the benefit ...
The term "grantor trust" also has a special meaning in tax law. A grantor trust is defined under the Internal Revenue Code as one in which the federal income tax consequences of the trust's investment activities are entirely the responsibility of the grantor or another individual who has unfettered power to take out all the assets. [20]