Cestui Que Trust Explained

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Summary

Cestui Que Trust refers to the beneficiary of a trust, with the trustee holding legal title to the trust property. Originating from the 1666 Cestui Que Vie Act in England, it was designed to protect property if the owner was lost at sea. Today, it is used when beneficiaries cannot manage their own affairs. Core principles include lawful purpose, benefit to the beneficiary, and trustee accountability. Trusts generally do not need registration unless they generate tax consequences, in which case they must be registered with the Trust Registration Service (TRS) managed by HMRC. Birth certificates are not bonds; they are vital records with unique registration numbers for identification purposes.

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tell me moew
The Cestui Que Trust has three main components:
- Settlor: The person who creates the trust.
- Trustee: The person who manages the trust.
- Beneficiary (Cestui Que Trust): The person who benefits from the trust.
Would you like information on how to establish such a trust?
tell me how the cestui que vie trust came about
The Cestui Que Vie Trust originated in England during the * 'Cestui Que Vie Act'. Its purpose was to protect land or property for a beneficiary in the event that the beneficiary was lost or missing at sea, ensuring the property wasn't seized by the Crown.
what effect is it today
Today, the Cestui Que Vie Trust is still in effect. It is used in circumstances where the beneficiary is unable to manage their own affairs. The trust allows a third party, the trustee, to manage the property and ensure that the benefits are used for the well-being of the beneficiary.
tell me about the history
The Cestui Que Vie Trust has a rich history dating back to the Cestui Que Vie Act of * in England. It was intended as a measure of protection for property if the owner was lost or missing at sea. This prevented the Crown from seizing the property. Over the years, its use has evolved but the core principles remain intact.
what are the core principles
The core principles of the Cestui Que Vie Trust are:
- Trust must have a lawful purpose.
- Trust must be for the benefit of the beneficiary.
- The trustee holds legal title to the trust property.
- The trustee is accountable to the beneficiary for the management of the trust property.
how is a trust made
Creating a trust generally involves the following steps:
- Identify the Settlor, Trustee, and Beneficiary.
- Determine the assets to be put into the trust.
- Draft and sign the trust deed.
- Transfer the assets into the trust.
- Register the trust, if necessary.
does a trust have to be registered
In England, trusts do not generally need to be registered. However, under the EU Fifth Money Laundering Directive, if the trust generates tax consequences, it must be registered on the UK Trust Registration Service.
WHAT IS THE NAME OF THE trust registration service
The Trust Registration Service (TRS) is the official name of the trust registration service in the UK. It is managed by HM Revenue & Customs (HMRC).
would a trust be registered with companies house
No, trusts are not registered with Companies House in the UK. Companies House is for the registration of limited companies. Trusts, if they incur tax consequences, need to be registered with the Trust Registration Service managed by HMRC.
is the birth certificate a bond
No, a birth certificate is not a bond. It is a vital record that documents the birth of a child. It is not linked to any financial product or instrument like a bond.
prove that statement
As per the UK government's official website, a birth certificate is a document that records the birth of a child, containing details such as the date and place of birth, and parents' names. It doesn't have any financial value and is not a bond. It's used primarily for identification purposes.
tell me about the registration number on the birth certificate
The registration number on a birth certificate in England is a unique reference number assigned by the General Register Office. It helps identify the record of the birth in the official register. It's used for administrative purposes and doesn't have any financial implications.