What Is A Secret Trust?

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Trust
In general terms a trust can be defined as a relationship recognized by equity which arise when property ("the Trust Fund") is transferred by a person (" the Settler"), to another person or persons ("the Trustees"), and such Trustees are obliged to hold such property for the benefit of others ("the Beneficiaries"), and they must act at all time in the best interest of the Beneficiaries. The interests of the Beneficiaries are set out in the instrument creating the Trust, ("the Trust Deed"), but there are other interests which are implied or imposed by law. There are 4 players in the trust settler, trustee, beneficiaries, and court.
Trust means a trust is in fact a series of relationship between the parties. Trustee means a trustee is a …show more content…

Normally will is a public document. That cannot be holding any secrets. Must declare the trustee and a beneficiary, as well as the property. Testators wish to make condition for a partner, husband or wife, illegitimate child, non marital child or can be anyone to ensure they are provided for after his death. Normally secret trust can be divided by two categories.
1) Fully Secret Trust
2) Half Secret Trust
Fully Secret Trust means in a fully secret trust property is given to a legatee, apparently beneficially, without words imposing a trust. However, the legatee agrees with the testator that he will hold it on certain trusts. The trust fails if it is not communicated to the legatee during the testator’s lifetime and takes effect as a beneficial gift to the legatee. A fully secret trust will arises trustee appears to take and absolute gift under testator’s will, but Trustee has informally agreed with testator’s hold the property on trust for beneficiary. Three requirements for the creation of valid fully secret trusts; (1) There must be an intention to create a trust.
(2) There must be communication of the donor’s intention to create a trust to the done, for the period of the lifetime of the

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