Gifts and Trusts on Death
3 important questions on Gifts and Trusts on Death
What are the formailities for a valid will under s 9 of the Wills Act 1837?
- Writing
- Signed by the settlor
- In the joint presence of 2 witnesses, who must witness the settlor's signature by signing the will in his presence
Explain how trusts are created in wills?
There is only one method available on death and that is transfer to trustees to hold trust. Constitution is not an issue as the will transfers the title to the trustees through personal representatives.
Explain how gifts in a will work?
There are no issues with imperfect gifts as the will transfer the legal title. The subject matter of the gift must be clear to the donee.
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