A self-declared trust is a situation in which an individual who has both legal and equitable ownership declares that she now owns the legal title for the benefit of another individual.
trusts and estates
The will execution ceremony is the procedure by which a testator makes known how he wants his property to be handled after his death through his will. The execution ceremony has formal requirements such as the signature, attestation and writing requirements. The will is valid only if these formalities a
A descendant is a person born in a direct biological line. For example, a person's children, grandchildren and great-grandchildren are their descendants.
An inter vivos transfer is a transfer of property made during a person's lifetime. It can be contrasted with a testamentary transfer, which is a transfer made in a will after death. A revocable trust is considered an inter vivos transfer even though the benefit of the trust is not enjoyed by the beneficiary until after the death of the donor beca
The No Further Inquiry Rule applies to cases of self-dealing by a trustee. It makes all self-dealing transactions entered into by the trustee per se voidable by the beneficiaries, requiring no proof that such transactions were unreasonable or harmful. The trustee must act for the sole benefit of the beneficiaries.