1 / 6

Trust Property

Trust property is a method of holding title to property, governed by specific legal requirements. According to §112.005, a trust must have property, which can include real (both present and future) and personal property (tangible, intangible, etc.). However, new property can come from various sources unless prohibited by the trust or unacceptable to the trustee, as detailed in §112.006. Certain properties cannot be transferred immediately, such as non-assignable contract rights or future acquisitions. Understanding these nuances is essential for effective estate planning and trust management.

feleti
Télécharger la présentation

Trust Property

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Trust Property

  2. Basic Requirement -- § 112.005 • A trust must have property. • A trust is a method of holding title to property; a conveyancing relationship

  3. Additional Trust Property -- § 112.006 • New property may come from any source unless: • Trust prohibition, or • Property unacceptable to trustee.

  4. Types of Property -- § 111.004(12) • Any transferable property: • Real (present & future) • Personal (tangible, intangible, choses in action, right to be a beneficiary, etc.)

  5. Types of Property -- § 111.004(12) • But not property the settlor cannot immediately transfer: • Non-assignable contract right • Spouse’s share of community • Property to be acquired in the future • Expectancy to inherit from someone still alive • Birk – p. 69

  6. Delivery • Real Property = deed • Personal Property = possession, deed of gift, title registration, etc. • Marshall – p. 72

More Related