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English Law Equity and Trust Coursework - Essay Example

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“He is the beneficiary of a generous trust set up by his father” his condition or obligation of one to whom anything is confided; responsible charge or office.” We can summarize the term trust in this manner. The trust property is something held by one party for the…
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English Law Equity and Trust Coursework
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English Law Equity and Trust Coursework

tion behind the creation of trust is that the devisee or grantee shall convey it, or dispose of the profits, at the will, or for the benefit, of another; an estate held for the use of another; a confidence respecting property reposed in one person, who is termed the trustee, for the benefit of another, who is called the cestui que trust. Generally the beneficiary gets interest and dividends on the trust assets for a set number of years.
Law of equity and trust confers the provision regarding the trust. It laid down several duties and responsibilities for the trustees. Trust can be raised from either trust deed/covenant as said before or by the Will, i.e. a testamentary trust is a trust created by a Will or a codicil to a Will. A testament is a Will. Here the trust instrument is the Will/Codicil. A testamentary trust can not be by inter vivos i.e it can not be exist between living persons. Generally there can be two types of disputes raised from this type of the trust established by the law. a) Dispute concerning property left in Wills which are over the capacity of a testator b) dispute regarding whether the testator made the Will under undue influence.
Here there is a rule that he/she must dispose of that property personally and may not delegate that power of disposition to another. Tatham v Huxtable(1950) 81 CLR 639 where the Court insisted to keep up the rule “Will directed the executor to distribute the residuary property “to others not otherwise provided for who, , have rendered service
In our case, Brain has appointed Tony and Nathan as executors and trustees under his Will (testament) over the trust deed which he (the testator) had made earlier where his children Pat and Richard are the trustees. Before we render the service of tackled conclusions to Tony and Nathan, it is inevitable to have a look upon the rules, provisions, scope of trustees of trust deed and trustees of testamentary trust.
There will always be some testators who draft their own ... Read More
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