Types of Trusts
An important point about trusts is that it is necessary that the trust property be sufficiently identifiable - Re London wine Co shippers ltd 1986, there is no uncertainty as to the identity of the beneficiaries - Morice v Bishop of Durham 1805 and the intention of the person must be clear that he or she must intend to create a trust. Very important pointer from CT Emery- The most hollowed principles certainties of beneficiaries of trusts and powers of appointment "A trust is to be upheld if there is sufficient practical certainty for it to be carried out if necessary, with the assistance of the court according to the expressed intention of the settlor." Types of Expressed trusts Expressed Trusts These types of trusts are declared intentionally by the settlor. Typically the settlor will intend to settle specific property on tryst for clearly identifiable beneficiaries to be held by appointed trustees according to terms set out by the settlor. 1. fixed tru