TSEM6241 - Legal background to trusts & estates: failure of trust provisions
The terms of a trust should state what is to happen to the trust assets and their income in all circumstances. If they do not, and circumstances arise in which the trustees haven바카라 사이트™t been told what to do with the capital and/or income, it has to be held on trust for the settlor. This type of trust is called a resulting trust. If the settlor is, by that time, dead, or the original trust was set up under a will, the money held on resulting trust will form part of the settlor바카라 사이트™s residuary estate.