Introduction To Trusts - Some Different Types of Trust - Fixed trusts

4 important questions on Introduction To Trusts - Some Different Types of Trust - Fixed trusts

Why is a fixed trust important in preventing the trustee from altering the trust?

The interests of the beneficiaries are set by the terms of the trust.

What is the difference between a life tenant and a remianderman and does the lifetneant enjoy all the trust property?

The life tenant has the life interest whilst the remaindermen had the interest in the remainder. The life tenant does not enjoy all the trust property but instead receives the trust income. When the life tenant dies, the trust property is transferred to the remainderman which ends the trust.

Explain the impact of the beneficiaries' interest if it is contingent?

The beneficiaries' interest is conditional (contingent) on the occurrence of a specific event, e.g. On attaining a certain age.
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Under a bare trust, can the beneficiary dictate how the trust property should be handled, and do the trustees have any say?

Where the trustee holds trust for a beneficairy of full mental capacity, the beneficiary can dictate how the trustee should handle the trust property. This can include the transfer of legal title to the beneficiary (Saunders v Vautier).

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