Trust creation - PowerPoint PPT Presentation

Beneficiary

Beneficiary. Generally -- § 111.004(2), (10). Holds equitable title. Enforces fiduciary duties against trustee. Capacity = ability to take and hold property. Description of Beneficiaries. Must be clearly ascertainable. Problems 1-3, page 81. Description of Beneficiaries.

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Rule Against Perpetuities

Rule Against Perpetuities. Constitutional Prohibition. “Perpetuities * * * are contrary to the genius of a free government, and shall never be allowed * * *.” Art. 1, § 26. Trust Code § 112.036.

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