What Kind Of Trusts Can Be Created?

There are several kinds of trusts. Express trust is where the settler declares that the will hold the right on trust for the beneficiary thus making himself the trustee. Settler can if he chooses to, divide up the interest any way he wants. Within express trust are intervivos trust, private purpose trusts, charitable trust, and secret trusts. Settler may then want to create a trust for his children but would like to leave it open as to how much each child would get. A fixed trust is one where the interest of the beneficiary are already determined and the trustee does not have to make decisions as to how to distribute the property. Discretionary trust is one where the settler has left the distribution on discretion of the trustee.

Bare trust is where the trustee holds the property on the order of the beneficiary. In other words bare trust is a kind of a fixed trust. Trusts which arise by operation of law are called constructive trusts. Resulting trusts is one where the interests in the trust property reverts back to the person who provided the property to the trustee.

There are countless opportunities for trust. You can create Educational trusts, you can create health trusts, you can create trust hospitals, you can create social services trusts etc.