Trust law

High school (ages 12+)
People & Society

Name:

Date:

Step 1 · Read the article

Open the article and read it at the level above. Then answer the questions below in your own words.

https://smallwhale.org/articles/trust-law

Write what each word means, using the article.

Do not copy the article. Write two things you learned, the way you would explain them to a friend.

Answers below are taken from the article’s stored facts, so they match what the student read.

1. What is the modern applications?Essential for estate planning, asset protection, charitable giving, and complex financial transactions
2. What is a trust in simple terms?A trust is a special rule where one person, called the trustee, holds property for someone else, called the beneficiary, so the beneficiary can enjoy it.
3. Why does a trustee have to be careful and honest?Because the trustee has a very high duty to act loyally, carefully, and truthfully for the benefit of the people who will use the property.

Equitable Title: The beneficial interest in property held by a beneficiary, distinct from legal ownership.
Resulting Trust: A trust presumed to arise when assets are transferred but the transferor does not intend the recipient to have beneficial ownership.
Constructive Trust: A trust imposed by law to prevent unjust enrichment or fraud, regardless of the parties' intentions.