trusts and estates

The trust beneficiary is the party for whose benefit the trustee holds the title to the trust property.

A public express trust is a charitable trust that has a purpose that benefits the community in general, or has a specific beneficial purpose (such as education or health). These are favored by the law and get certain advantages, for example, the remainder interest in a public express trust is not subject to the

An express trust (intentional trust) is any trust created volitionally by a settlor. It can be either private or public.

Though transfers by will are normally donative, it is possible to use a will to form an obligatory, legally enforceable contract. A will contract is created when a promise is made and supported by consideration to leave property by will to the promisee or other third-party beneficiaries.

Normally, children who are cut out of their parents’ will cannot file claim against their parents’ estate. However, in rare cases when the child is born or adopted after the will is executed, omitted child statutes allow that child to file claim against the estate. Omitted child statutes are designed to effectuate an imputed intention to include the after-born child in the parents’ will.&

A revocable trust is a will substitute, meaning that title of assets in the trust is transferred during the lifetime of the donor even though the benefits of the assets are not enjoyed by the beneficiary until after the death of the donor. Like all trusts, assets are passed on to a fiduciary that controls the assets for the

An anti-lapse statute is a rule of construction in trusts and estates law. If a testator devises a gift to a person in his will and the devisee predeceases the testator, the anti-lapse statute will allow the gift to pass on to the devisee’s descendants rather than force the gift to pass through