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Simple English definitions for legal terms

Precatory Trust

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A quick definition of Precatory Trust:

A precatory trust is a type of trust that is created with language that expresses a future wish or intent, but the court still finds legally enforceable duties. Normally, a trust must have language that expresses a present intent to create legally enforceable duties on the trustee. However, in some cases, the court will still find intent to create legally enforceable duties in a trust that uses precatory language by looking at the relationship between the parties. This means that the trust will not fail for lack of trust intent.

A more thorough explanation:

A precatory trust is a type of trust that is created with language that expresses a future intent or a wish, but in which the court still finds legally enforceable duties. Normally, a trust must have language that expresses a present intent to create legally enforceable duties on the trustee in order to be valid. However, in some cases, the court will still find intent to create legally enforceable duties in a trust that uses precatory language.

For example, if a father creates a trust for his son and uses language like "I hope my son will use this money for his education," the court may still find that the father intended to create legally enforceable duties on the trustee (in this case, the son) to use the money for education. This is because of the familial relationship between the father and son, which suggests that the father intended for the trust to be more than just a suggestion or wish.

Another example of a precatory trust might be a trust created by a wealthy philanthropist who wants to leave money to a charity, but uses language like "I hope the charity will use this money to help the homeless." Again, the court may find that the philanthropist intended to create legally enforceable duties on the charity to use the money for the specified purpose.

In both of these examples, the court is looking beyond the specific language used in the trust to determine the intent of the person who created it. If the court finds that there was a clear intent to create legally enforceable duties, then the trust will be valid and enforceable.

precatory | precedent

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texaslawhopefully
15:46
If I get into UChicago it will be CYS
lilypadfrog
15:48
waspy I’m sure he meant to clarify that CYS is Cornell Yale Stanford
yeah just making sure
I look really good in blue tho
obviously cornell is t3
cumsock
15:49
someone from my undergrad is going to columbia for a masters in social work and the way they are talking to me im pretty sure they think thats as hard to get accepted to as columbia law
every prof at cornell glazes it so hard
GreyCeaselessMammoth
15:50
i know so many heads going to various schools for random masters degrees and its like babe its not the sameeee
cumsock
15:50
"The acceptance rate for the Master of Science in Social Work (MSW) program at Columbia University is 74%" does he know?
15:50
@cumsock: some battles are won by avoiding fighting them
cumsock
15:51
im not i just wish normies knew its not the same
Trismegistus
15:51
i need chicago so badly
15:51
for suresies
lilypadfrog
15:52
llama do you think we’re besties? I kinda think we’re besties
JumpySubsequentDolphin
15:52
@GreyCeaselessMammoth: PLS I know a girl who got a master’s at Columbia for some random niche thing and she told EVERYBODY SHES GOING TO COLUMBIA LAW SCHOOL
GreyCeaselessMammoth
15:52
WHAT???
15:53
@JumpySubsequentDolphin: I can respect the hustle.
GreyCeaselessMammoth
15:53
penn r
GreyCeaselessMammoth
15:53
called it
15:53
i have two old classmates going to columbia for like social work
15:53
@lilypadfrog: that depends. flash ur mod badge to find out
soyalmondoatmilk
15:54
penn R too bruh
GreyCeaselessMammoth
15:55
luigi arc ended :(
15:56
you can be driven insane by chronic back pain anywhere :)
[M] lilypadfrog
15:57
@llama: if you insist
Trismegistus
15:57
STILL NOTHING?
Trismegistus
15:57
for me
RightPlant
15:57
anything from nyu?
Trismegistus
15:57
penn r people was it in portal under status or?
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