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In trust law, an express trust is a trust created "in express terms, and usually in writing, as distinguished from one inferred by the law from the conduct or dealings of the parties." [ 1 ] Property is transferred by a person (called a trustor, settlor , or grantor) to a transferee (called the trustee ), who holds the property for the benefit ...
Austin Wakeman Scott (August 31, 1884 – April 10, 1981) was a professor of law at Harvard University [1] who wrote a ten-volume treatise covering many topics of personal trusts such as the formation and termination of express trusts, resulting and constructive trusts, and the conflicts of interest encountered in the administration of trusts.
The creation of express trusts in English law must involve four elements for the trust to be valid: capacity, certainty, constitution and formality. Capacity refers to the settlor's ability to create a trust in the first place; generally speaking, anyone capable of holding property can create a trust. There are exceptions for statutory bodies ...
The term "grantor trust" also has a special meaning in tax law. A grantor trust is defined under the Internal Revenue Code as one in which the federal income tax consequences of the trust's investment activities are entirely the responsibility of the grantor or another individual who has unfettered power to take out all the assets. [20]
Best Paying Jobs in Real Estate Investment Trusts. GOBankingRates analyzed job listings and salary data from the U.S. Bureau of Labor Statistics and other sources to find the best-paying jobs in ...
Discretionary trusts and powers in English law are elements of the English law of trusts, specifically of express trusts. Express trusts are trusts expressly declared by the settlor; normally this is intended, although there are situations where the settlor's intentions create a trust accidentally. Normal express trusts are described as "fixed ...