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    Senior Member Michael Joseph's Avatar
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    Quote Originally Posted by Chex View Post
    Legal Word of the Day

    After all, a trustee holds legal title.

    The legal title holder in any trust holds decision authority over the property in question – i.e. everything the “strawman” touches.

    The beneficiary holds equitable title.
    The form of the trust you describe is a SIMPLE TRUST by name and is revocable and therefore is part of the Grantor's Estate unless specifically expressed to be in charity to another corporation of men and women [heirs] or a singular man or woman.

    There are many, many other trust formations whereof the Trustee holds BOTH the legal and the equitable titles in allodium fee simple - and the beneficial interest holders have only interest in the promises made in the contract. The ownership, management and dominion of the property and therefore estate is in the Board of Trustees. That is an irrevocable trust.

    Now pray tell look around treating of government which do you suppose exists?

    In the latter formation the beneficiary has claim in breach of trust or a tort in defamation which is to say libel or slander. But the beneficiary has no say in how the estates are managed and for the beneficiary to claim against that Will is "trustee de son tort" - and a Constructive Trustee is created. Meaning - "if he wants the liability, then give it to him."

    In the latter formation, a beneficiary does not even have the ability to require the Board of Trustee to give account of the Trust Affairs UNLESS that requirement is written into the bylaws or trust minutes. In regard to government trust minutes are kept carefully in what is called the Congressional Record.

    I can think of hundreds of examples whereof an irrevocable trust such as the foregoing is very advantageous. We are only limited by our own thinking. An interest in estate or an estate in property or a right in property or dominion over property are all legal formations and are subject to trust.

    The entire universe runs on trust law.
    Last edited by Michael Joseph; 05-01-15 at 07:11 PM.
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