Question
Oliver wants to make sure his daughter Penelope is taken care of after he is gone. He sets up a trust to provide for all
Oliver wants to make sure his daughter Penelope is taken care of after he is gone. He sets up a trust to provide for all her needs with Raymond as the trustee. He then places most of his money in the trust with Raymond. After Oliver dies Raymond refuses to give any of the money to Penelope. Can she sue to enforce the trust?
No. Since Oliver is dead, all of his contracts have no effect.
No. Since she is not an original party to the trust creation, Penelope has no right to enforce it.
Maybe, but only if Oliver assigned his contract rights to Penelope before he died
Yes. Because Raymond is still alive, anyone can sue to enforce the trust agreement.
Yes, because the requirement of privity does not apply to trusts
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started