Question: EQUITY AND TRUST SCENARIO. Advise the potential beneficiaries in relation to the distribution of Geraldines 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 . Geraldine trust deed, letter and Will can be seen as private express trusts which benefit individuals or a narrow section of the public, and therefore have certain requirements that need to be pr......(short extract)
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Details: - Mark: 68% | Course: Equity and Trust Law | Year: 2nd/3rd | Words: 2982 | References: Yes | Date written: Not available | Date submitted: October 13, 2008 | Coursework ID: 47
