Question

Roberta is a wealthy New York socialite who owns dozens of real estate properties in the United States. One day, Roberta decides to move to France. Before she leaves for France, Roberta sends an e-mail instructing her lawyer to continue collecting rental payments from her tenants. Without giving her lawyer any further instructions or signing any documents, Roberta leaves the country. Has Roberta created a trust? Briefly explain your answer. (3 points)

Answer 1

NO ,ROBERTA DID NOT CREATED A TRUST

ESSENTIALS OF TRUST ARE -

Good advice and guidance is of course a primary essential. However, the other essential elements required for a valid trust are:

• The trust deed
• The trustee
• Certain beneficiaries
• The trust assets, which are clearly identifiable and capable of being “held on trust”, and
• The obligation in respect of the trust assets referred to above (as spelled out in the deed)

SINCE NONE OF THE ELEMENTS ARE AVAILABLEIN THIS CASE IT WONT BE CONSIDERED A TRUST DEED