Trusts

What this module covers

Every section of Trusts, in the order the course teaches them. This is the whole syllabus for the module, not a selection. Open a section to read the topics inside it.

1. The Three Certainties10 topics

   • The three certainties in outline
   • Certainty of intention
   • Certainty of subject matter
   • Certainty of objects in a fixed trust
   • Certainty of objects in a discretionary trust
   • What happens if objects are uncertain
   • Trust property must already exist
   • Certainty of each beneficiary’s share
   • Communication to beneficiaries is not needed
   • The timing limbs of intention
2. The Beneficiary Principle1 topic

   • Ascertainable beneficiaries who can enforce
3. Formalities for Creation5 topics

   • The general rule: no formalities
   • Declarations of trust over land
   • Disposing of a subsisting equitable interest
   • Resulting, implied and constructive trusts excepted
   • Testamentary trusts and the Wills Act 1837
4. Trust Constitution: Exceptions to 'Equity Will Not Assist a Volunteer'8 topics

   • The two ways to create a trust
   • Equity will not perfect an imperfect gift
   • The every effort principle in Re Rose
   • Donatio mortis causa
   • The rule in Strong v Bird
   • Proprietary estoppel
   • Unconscionability in Pennington v Waine
   • A gift to a body of trustees
5. Beneficial Interests and Saunders v Vautier4 topics

   • Fixed and discretionary trusts
   • Vested and contingent interests
   • The rule in Saunders v Vautier
   • A single fixed-interest beneficiary
6. Rules Against Perpetuity3 topics

   • Remoteness of vesting
   • Inalienability
   • Accumulation of income
7. Types of Trust (Classification)2 topics

   • How trusts are classified
   • Protective trusts
8. Resulting Trusts7 topics

   • What a resulting trust does
   • Presumed resulting trusts
   • Rebutting the presumption
   • Automatic resulting trusts
   • Quistclose trusts
   • Transfers for an illegal purpose
   • Evidence admissible in rebuttal
9. Trusts of the Family Home5 topics

   • Joint names with no declaration
   • An express declaration of shares
   • The common intention constructive trust
   • Proprietary estoppel as an alternative
   • Varying an agreed share by conduct
10. Charitable Trusts6 topics

    • The three requirements
    • The thirteen charitable purposes
    • Public benefit
    • Exclusively charitable purposes
    • The cy-près doctrine
    • How specific plans affect cy-près
11. Non-Charitable Purpose Trusts3 topics

    • The anomalous honorary purpose trusts
    • Trusts to promote hunting
    • Denley trusts
12. Appointment, Retirement and Removal of Trustees11 topics

    • Who may appoint new trustees
    • The number of trustees
    • Retirement of a trustee
    • Beneficiaries directing appointment
    • A trust does not fail for want of a trustee
    • The court’s power to appoint
    • Capacity to be a trustee
    • Practical guidance on numbers
    • Acceptance and disclaimer of office
    • Appointing additional trustees
    • Who joins in appointing a replacement
13. Fiduciary Obligations of Trustees5 topics

    • The no-conflict rule
    • The no-profit rule
    • No self-dealing
    • Remuneration
    • The duty of confidentiality
14. Trustees' Duties and Powers (Administration and Investment)18 topics

    • The statutory duty of care
    • The general power of investment
    • The standard investment criteria
    • The duty to obtain advice
    • Delegation to agents
    • The power of maintenance
    • The power of advancement
    • The duty to act impartially
    • The duty to get in trust property
    • The duty to observe the terms of the trust
    • The power to insure
    • Trustees must act unanimously
    • Accounts, records and their production
    • Keeping trust property separate
    • What counts as an investment
    • Where maintenance accumulations go at 18
    • Payment mechanics for a minor
    • The written consent proviso on advancement
15. Control of Trustees by Beneficiaries2 topics

    • Compelling performance and challenging discretion
    • Legitimate expectation from a settled practice
16. Breach of Trust: Liability and Trustee Protections3 topics

    • What amounts to a breach
    • Joint and several liability
    • Defences, consent and limitation
17. Tracing in Equity (Proprietary Claims)5 topics

    • Why a proprietary claim is advantageous
    • The rule in Re Hallett’s Estate
    • The rule in Re Oatway
    • The lowest intermediate balance rule
    • Assets bought with mixed funds
18. Liability of Strangers to the Trust5 topics

    • The bona fide purchaser
    • The innocent volunteer
    • Knowing receipt
    • Dishonest assistance
    • What counts as assistance
19. Secret and Half-Secret Trusts1 topic

    • Fully secret and half-secret trusts
20. Nature of Equitable Remedies1 topic

    • When equity supplements the common law