Delivery not required because it is effectuated on death.

In t er vivos 1. Present intent to transfer

Elements: 2. If by declaration (settlor is trustee)- no delivery required
3. S of F where property

Delivery not required because it is

Tim e Test am en t ar y
effectuated on death.

Cr eat ion
Intent must be present ? not merely precatory language. Instructions
In t en t must be precise.

Elem en t s

Pu r pose A proper purpose (cannot be a purpose prohibited by law or public policy).

Subject matter of trust must be ascertainable and identifiable.

Res
Must be delivered if trustee is 3P

Gift coming from settlor 's will

Empty trust

Valid if named Direct beneficiary of a life insurance policy or

pension plan death benefit

Ascer t ain able There must always be a beneficiary who can

ben ef iciar ies enforce the trust.

A trustee manages the trust property and holds it for the

Tr u st ee benefit of the beneficiaries. A trustee?s duties do not have to
be expressly stated