H: Types of Trust

Descripción

CII - Level 4 Diploma (C3: Legal concepts and considerations relevant) R01 - Financial services, regulation, and ethics Mapa Mental sobre H: Types of Trust, creado por Mark Varela el 27/03/2014.
Mark Varela
Mapa Mental por Mark Varela, actualizado hace más de 1 año
Mark Varela
Creado por Mark Varela hace más de 10 años
39
0

Resumen del Recurso

H: Types of Trust
  1. Express Trust

    Nota:

    • - Intentionally and expressly created. - Usually by written declaration or deed.
    1. Implied Trust

      Nota:

      • - Created by implications of actions or circumstances of the parties
      1. Resulting Trust

        Nota:

        • - Created as a result of the failure of a trust - Property ownership reverts to the donor
        1. Bare/Absolute Trust

          Nota:

          • - Trustee's sole duty is to transfer property to the appropriate beneficiary 
          1. Settlements/Successive Trusts

            Nota:

            • - Trust with successive interests - Initial beneficiaries are life tenant with entitlement to income - Final interest is called the ultimate trust
            1. Power of Appointment Trust

              Nota:

              • - Trustees have power to appoint or vary beneficiaries - Power can be exercised only amongst prescribed class of beneficiaries - 'Gift over' or 'default' beneficiary has the interest in possession - Most life offices use as standard trust for most circumstances
              1. Interest in Possession Trust

                Nota:

                • - Beneficiary simply has a right to income from/enjoyment of the trust property
                1. Discretionary Trust

                  Nota:

                  • - Power of Appointment trust with no Interest in Possession
                  1. Will Trust
                    1. Statutory Trust
                      1. Intestacy Trust
                        Mostrar resumen completo Ocultar resumen completo

                        Similar

                        G: Laws of succession
                        Mark Varela
                        C3: Enforcement in civil & criminal courts
                        Mark Varela
                        D: Other Regulators
                        Mark Varela
                        A2: Financial Services Act 2012
                        Mark Varela
                        D1A-D2: Compliance monitoring
                        Mark Varela
                        D: Law of agency
                        Mark Varela
                        B: Powers of attorney
                        Mark Varela
                        A: Legal Persons
                        Mark Varela
                        A: UK's Financial Services Regulatory Landscape
                        Mark Varela
                        D1: Regulatory supervisison & the risk-based approach
                        Mark Varela
                        B: FCA Objectives
                        Mark Varela