An identified beneficiary with an equal share is said to belong to a(n):
A)implied trust.
B)specific trust.
C)fixed trust.
D)resulting trust.

Question

Quizplus · Accepted Answer

A fixed trust is one where the beneficiaries have an equal share, and their interests are specified and fixed in the trust deed. This is in contrast to a discretionary trust, where the trustee has discretion over which beneficiaries receive what share of the trust fund. An implied trust arises when there is no express trust deed, but the parties' intentions can be inferred from their conduct or circumstances. A specific trust is a trust that is established for a specific purpose or benefit, such as a trust for education or charitable purposes. A resulting trust arises when there is a presumption that the person who provided the funds for the purchase of an asset intended to retain an interest in that asset.

An Identified Beneficiary with an Equal Share Is Said to Belong