About This Course
Part 1: A trust is a fiduciary relationship in which property is transferred from the creator to one or more persons, known as trustees, who manage that property for the benefit of another individual called the beneficiary. The purpose of a trust is to insure that property is appropriately managed and its income disbursed to persons whom the creator elects to benefit from the property. This course in drafting a basic trust discusses all of the fundamental requirements to create a valid trust, indicating the various types of trusts that may be formed, and certain legal restrictions imposed on trusts. The course concludes with a checklist of clauses for drafting a basic trust. This course is designed for any attorney who has limited experience with an estate practice. Part 2: A will represents the wishes of a person that is no longer living. Therefore, the law requires a great deal of formality to insure that the document does truly represent the desire of a person who could no longer speak for him/herself. This lecture covers the basic clauses and formats for creating a will. It will also discuss the correct method of execution of the will.