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Express Trusts
In trust law, an express trust is a trust created "in express terms, and usually Trust instrument, in writing, as distinguished from one inferred by the law from the conduct or dealings of the Party (law), parties." Property is transferred by a person (called a trustor, settlor, or grantor) to a transferee (called the trustee), who holds the property for the benefit of one or more persons, called Beneficiary, beneficiaries. The trustee may distribute the property, or the income from that property, to the beneficiaries. Express trusts are frequently used in common law jurisdictions as methods of Tax avoidance, wealth preservation or enhancement. Terms Law generally requires only a simple formality to create an express trust. In certain jurisdictions, an express trust may even be established orally. Typically, a settlor would record the disposition, where real property is to be held in trust or the value of property in trust is large. Where legal title to property is being passed t ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Trust Law
A trust is a legal relationship in which the owner of property, or any transferable right, gives it to another to manage and use solely for the benefit of a designated person. In the English common law, the party who entrusts the property is known as the "settlor", the party to whom it is entrusted is known as the "trustee", the party for whose benefit the property is entrusted is known as the "beneficiary", and the entrusted property is known as the "corpus" or "trust property". A ''testamentary trust'' is an irrevocable trust established and funded pursuant to the terms of a deceased person's will. An inter vivos trust is a trust created during the settlor's life. The trustee is the legal owner of the assets held in trust on behalf of the trust and its beneficiaries. The beneficiaries are equitable owners of the trust property. Trustees have a fiduciary duty to manage the trust for the benefit of the equitable owners. Trustees must provide regular accountings of trust income ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Rights
Rights are law, legal, social, or ethics, ethical principles of freedom or Entitlement (fair division), entitlement; that is, rights are the fundamental normative rules about what is allowed of people or owed to people according to some legal system, social convention, or ethical theory. Rights are an important concept in law and ethics, especially theories of justice and deontology. The history of social conflicts has often involved attempts to define and redefine rights. According to the ''Stanford Encyclopedia of Philosophy'', "rights structure the form of governments, the content of laws, and the shape of morality as it is currently perceived". Types of rights Natural versus legal * Natural rights are rights which are "natural" in the sense of "not artificial, not man-made", as in rights deriving from human nature or from the divine command theory, edicts of a god. They are universal; that is, they apply to all people, and do not derive from the laws of any specific soci ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Charitable Organization
A charitable organization or charity is an organization whose primary objectives are philanthropy and social well-being (e.g. educational, Religion, religious or other activities serving the public interest or common good). The legal definition of a charitable organization (and of charity) varies between countries and in some instances regions of the country. The Charity regulators, regulation, the tax treatment, and the way in which charity law affects charitable organizations also vary. Charitable organizations may not use any of their funds to profit individual persons or entities. However, some charitable organizations have come under scrutiny for spending a disproportionate amount of their income to pay the salaries of their leadership. Financial figures (e.g. tax refunds, revenue from fundraising, revenue from the sale of goods and services or revenue from investment, and funds held in reserve) are indicators to assess the financial sustainability of a charity, especiall ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Charities
A charitable organization or charity is an organization whose primary objectives are philanthropy and social well-being (e.g. educational, religious or other activities serving the public interest or common good). The legal definition of a charitable organization (and of charity) varies between countries and in some instances regions of the country. The regulation, the tax treatment, and the way in which charity law affects charitable organizations also vary. Charitable organizations may not use any of their funds to profit individual persons or entities. However, some charitable organizations have come under scrutiny for spending a disproportionate amount of their income to pay the salaries of their leadership. Financial figures (e.g. tax refunds, revenue from fundraising, revenue from the sale of goods and services or revenue from investment, and funds held in reserve) are indicators to assess the financial sustainability of a charity, especially to charity evaluators. This ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Appeal Cases Law Reports
A or is a compilation of judicial opinions from a selection of case law decided by courts. These reports serve as published records of judicial decisions that are cited by lawyers and judges for their use as precedent in subsequent cases. Historically, the term "reporter" was used to refer to the individuals responsible for compiling, editing, and publishing these opinions. For example, the Reporter of Decisions of the Supreme Court of the United States is the person authorized to publish the Court's cases in the bound volumes of the ''United States Reports''. Today, in American English, "reporter" also refers to the books themselves. In Commonwealth English, these are described by the plural term "law reports", the title that usually appears on the covers of the periodical parts and the individual volumes. In common law jurisdictions, such as the United States, the doctrine of '' stare decisis'' ("to stand by things decided") requires courts to follow precedent by applying ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Commonwealth Law Reports
The Commonwealth Law Reports (CLR) () are the authorised reports of decisions of the High Court of Australia. The Commonwealth Law Reports are published by the Lawbook Company, a division of Thomson Reuters. James Merralls AM QC was the editor of the Reports from 1969 until his death in 2016. The current editors are Paul Vout KC and Peter Willis SC. Each reported judgment includes a headnote written by an expert reporter (by convention, a practising barrister) which, as an authorised report, has been approved by the High Court. The current reporters are as follows: * Hannah Canham * Roshan Chaile * Bora Kaplan * James McComish * William Newland * Jakub Patela * Stephen Puttick * Daniel Reynolds * Marcus Roberts * Alexander Solomon-Bridge * Ahmed Terzic * Julia Wang * Michael Wells * Radhika Withana The headnotes include a summary of counsel's legal arguments. The Reports also include tables of cases reported, affirmed, reversed, overruled, applied or judicially commented ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Discretionary Trust
In the trust law of England, Australia, Canada, and other common law jurisdictions, a discretionary trust is a trust where the beneficiaries and their entitlements to the trust fund are not fixed, but are determined by the criteria set out in the trust instrument by the settlor. It is sometimes referred to as a family trust in Australia or New Zealand. Where the discretionary trust is a testamentary trust, it is common for the settlor (or testator) to leave a letter of wishes for the trustees to guide them as to the settlor's wishes in the exercise of their discretion. Letters of wishes are not legally binding documents. Discretionary trusts can only arise as express trusts. It is not possible for a constructive trust or a resulting trust to arise as a discretionary trust. Forms Discretionary trusts can be discretionary in two respects. First, the trustees usually have the power to determine which beneficiaries (from within the class) will receive payments from the trust. Se ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bare Trust
In trust law, a bare trust is a trust in which the beneficiary has a right to both income and capital and may call for both to be remitted into their own name. In England and Wales Assets in a bare trust are held in the name of a trustee, but the beneficiary has the right to all of the capital and income of the trust at any time if they are 18 or over (in England and Wales), or 16 or over (in Scotland Scotland is a Countries of the United Kingdom, country that is part of the United Kingdom. It contains nearly one-third of the United Kingdom's land area, consisting of the northern part of the island of Great Britain and more than 790 adjac ...). Bare trusts are often used to pass assets to young people - the trustees look after them until the beneficiary is old enough. In Australia Recent amendments to the ''Superannuation Industry (Supervision) Act 1993'' allow superannuation funds to invest in any kind of asset and to borrow, charging those assets so long as there is ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Perpetuity
In finance, a perpetuity is an annuity that has no end, or a stream of cash payments that continues forever. There are few actual perpetuities in existence. For example, the United Kingdom (UK) government issued them in the past; these were known as consols and were all finally redeemed in 2015. Real estate and preferred stock are among some types of investments that effect the results of a perpetuity, and prices can be established using techniques for valuing a perpetuity. Perpetuities are but one of the time value of money methods for valuing financial assets. Perpetuities can be structured as a perpetual bond and are a form of ordinary annuities. The concept is closely linked to terminal value and terminal growth rate in valuation. Detailed description A perpetuity is an annuity in which the periodic payments begin on a fixed date and continue indefinitely. It is sometimes referred to as a perpetual annuity. Fixed coupon payments on permanently invested (irredeemable ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Rule Against Perpetuities
The rule against perpetuities is a legal rule in common law that prevents people from using legal instruments (usually a deed or a will) to exert control over the ownership of private property for a time long beyond the lives of people living at the time the instrument was written. Specifically, the rule forbids a person from creating future interests (traditionally contingent remainders and executory interests) in property that would vest beyond 21 years after the lifetimes of those living at the time of creation of the interest, often expressed as a "life in being plus twenty-one years". In essence, the rule prevents a person from putting qualifications and criteria in a deed or a will that would continue to affect the ownership of property long after he or she has died, a concept often referred to as control by the "dead hand" or "'' mortmain''". The basic elements of the rule against perpetuities originated in England in the 17th century and were "crystallized" into a sin ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
