Open AccessThe Floating Trust: Mutual Wills
Author(s) -
Lutie Sheridan
Publication year - 1977
Publication title -
alberta law review
Language(s) - English
Resource type - Journals
eISSN - 1925-8356
pISSN - 0002-4821
DOI - 10.29173/alr2284
Subject(s) - settlor , trust law , property (philosophy) , law , dispose pattern , testamentary trust , blind trust , equity (law) , constructive trust , law and economics , order (exchange) , express trust , sociology , business , political science , computer science , philosophy , epistemology , programming language , finance
In order to give effect to testator's intention equity has recognized the concept of the trust of fluctuating property. The writer discusses this concept within the framework of the law relating to mutual wills. He begins by considering when wills are mutual wills giving rise to trust. He continues with discussion of the extent to which the parties are then restricted in making further wills effective to dispose of the beneficial interest in their property and concludes with consideration of when the trust starts to operate in. 'uding what property is subject to the trust and what powers of disposition inter vivos are removed from the testators who make the mutual wills.