55-1 CLASSIFICATION AND CREATION OF TRUSTS
CLASSIFICATION AND CREATION OF TRUSTS
Purposes for which trust may be created.
Express trust defined.
Creation of express trust--Words or acts of trustor.
Express trust created as to trustee--Words and acts of trustee.
Wrongful detention creates implied trust.
Implied trust resulting from fraud, accident or wrongful act.
Implied trust created by transfer of property in violation of trust.
Transfer of real property to one for money paid by another--Trust presumed.
Implied trust--Declaration by court of equity.
Definition of terms--Trustor--Trustee--Beneficiary.
Voluntary trustee--Assumption of relationship.
Interest in existing trust--Transfer by operation of law or written instrument.
Certain trusts not terminated upon trustor's death.
55-1-16 to 55-1-19. Repealed.
Trusts for noncharitable purposes.
Trust for care of designated animal.
Provisions governing trusts for specific purposes selected by trustee and for care of
Distinction between discretionary trust and support trust--Creditor rights--Judicial
Judicial foreclosure of beneficial interests, powers of appointment, and reserved
powers prohibited--Creditors may not reach powers of appointment or remainder
Certain remainder interests not property interests.
Removal or replacement power over trustee not exercisable by beneficiary's
creditors--Interests of trustee beneficiary not reachable.
Trust property not subject to personal obligations of trustee.
Distribution and remainder interests not relevant to division of marital property.
Resources of settlor's spouse to be considered in making distribution from support
trust--Other beneficiary's resources need not be considered.
Factors which are not dominion and control over trust.
Factors which are insufficient evidence that settlor controls or is alter ego of trustee.
Provision that beneficial interest in trust income or principal may not be transferred
before payment to beneficiary permissible.
Trust declaration that beneficiary's interest subject to spendthrift trust--Payment of
Satisfaction of claims of settlor's creditors from trust estate if settlor is beneficiary.
Application of spendthrift provision.
Classification of distribution interest.
Classification of interest as support interest.
Bifurcation of trust.
Language resulting in classification of distribution interest.
Effect of spendthrift provision.
Mandatory or support interests.
Action for fraudulent transfer of settlor's assets.
Limitation of action for fraudulent transfer of settlor's assets.
No contest clause defined--Enforceability.
Extrinsic evidence not admissible to establish settlor's intent concerning no contest
Circumstances under which no contest clause unenforceable.
Contest regarding settlor's signature.
Attorneys fees and costs.
Applicability of §§ 55-1-46 to 55-1-50.