Simple English definitions for legal terms
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An express trust is a type of trust that is intentionally created by someone, usually in writing. It can be either private or public. The opposite of an express trust is an implied trust, which is created by the circumstances rather than by a deliberate act.
An express trust, also known as an intentional trust, is a type of trust that is created intentionally by a settlor. The settlor creates the trust in writing and specifies the terms of the trust. This type of trust can be either private or public.
For example, a parent may create an express trust for their child's education. The parent would specify in writing how the trust funds should be used for the child's education, such as tuition, books, and living expenses. The trustee would then manage the trust and distribute the funds according to the terms set by the parent.
Another example of an express trust is a charitable trust. A donor may create an express trust to benefit a specific charity or cause. The donor would specify in writing how the trust funds should be used to benefit the charity or cause. The trustee would then manage the trust and distribute the funds according to the terms set by the donor.
Express trusts are different from implied trusts, which are created by the circumstances rather than by the settlor's intention. Express trusts are created intentionally and with specific terms, while implied trusts are created based on the actions and circumstances of the parties involved.