Bar Exam (US) Trusts: Bob has two teenage children, Giles and Margaret. He wishes to create a tr...

Question

Bob has two teenage children, Giles and Margaret. He wishes to create a trust for them, but he does not want them to know about it, Therefore, Bob tells his attorney to draft his will leaving gifts to his wife and children and $500,000 to his brother, Evan. Under this will, the rest and residue of Bob's estate was left to his wife. Bob also has a conversation with Evan in which Evan promises to hold the money he is to receive under the will in trust for Giles and Margaret. The will was properly executed.

Does Bob's agreement with Evan constitute a trust?

AnswerChoose the correct answer.Choose all that apply. Correct Partially correct Incorrect Don't Know

  1. A
    Correct Answer
    Yes, it is an enforceable secret trust.
  2. B
    Correct Answer
    Yes, it is an enforceable semisecret trust.
  3. C
    Correct Answer
    No, because Bob did not indicate in his will that he was creating a trust.
  4. D
    Correct Answer
    No, because Evan's promise to hold the money in trust is unenforceable.
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