Article Writing Homework Help

I need some assistance with these assignment. equity and trusts Thank you in advance for the help! In the scenario, Tom was appointed by Vito as “trustee” over a “general legacy” worth 100,000. As defined, a trustee is someone who has nominal title over a property that he/she holds for the benefit of one or more beneficiaries. He/she must show a high standard of care towards her/his beneficiaries and must never permit his/her own interests to conflict with those of the beneficiaries. this person must not profit from whatever that was entrusted to him/her (Martin, 2002). Based on the definition of the word, Tom can’t keep the money for himself.

It must be noted that there was no overt manifestation (verbal acceptance or rejection) from Tom at the time Vito conveyed his intentions which might be construed as non-acceptance of the responsibility, however, the law only requires the presence of three “certainties” for a trust to exist – certainty of intention (Vito worries about his mistress and illegitimate son so he’s leaving some money for them), certainty of subject matter (100,000) and certainty of objects (mistress Lucy and son Santino). In the scenario, these three were explicitly present, therefore, Tom must shoulder this obligation.

(2) Fredo wants to know what he should do with the shares in Transit Ltd, as he finds clause of the will very confusing

There is nothing confusing in the provision of the will as far as the shares in Transit Ltd are concerned or who should benefit from the company’s income. It was evidently declared that Fredo, aside from being one of Vito’s estate executors, was also to act as trustee of Transit Ltd for the benefit of any of the family members within the period of ten (10) years.