general principles

Question 1

four requirements to make a trust

Answer 1

• capacity to make a trust
• three certainties - certainty of intention, subject matter (what the trust concerns) and objects (beneficiary)
• compliance with legal formalities
• constitution of the trust

Question 2

capacity

Answer 2

considers age and competency
AGE
- general rule: should be 18 or over to create a will or trust
*1969 - age of adulthood changed from 21 to 18 by Family Reform Act 1969
- you can create a trust before age 18, but you will not be bound by it until 18
COMPETENCY
- does the settlor understand what they are doing?