Derek Moran
In the Contract-class i was taking, we touched on Trusts BRIEFLY. However, someone did have a question regarding setting up a Trust, and the answer the Instructor gave who is a lawyer was- "A Trust can be set-up through nothing more than a contract"
Of course- being the only one in my class apart of this group i immediately shot my hand up- "All ive ever heard about setting-up a Trust, is that you have to create a corporation in order to do it."
Her answer was- "Well, you can do that too, if you choose to"
"OK, but going by what you just said there- you made it sound like you dont necessarily have to set-up a corporation, in order to set-up a Trust...and that a Trust could be set-up SOLELY through the making of a contract."
Her answer: "Yes. You dont necessarily have to go through setting-up a corporation, you're right."
'Wise-man' once told me- "The CONTRACT she is referring to, is the CHARTER required of in setting-up any Trust"