'Conventional trust law is a notorious essay
I. The securities necessary to create a relationship of trust. The “three certainties” necessary to express an express private trust were famously stated by Lord Langdale MR in Knight v Knight. The settlor must state with certainty: 1 intention - that a trust was intended, 2 subject matter - the property to be placed in the trust, and 3 objects - the: A trust is a legal arrangement. A trust is a legal arrangement whereby an individual, the Settlor, transfers legal ownership of property to another person or entity which the Trustees are required to hold for the benefit of one or more persons, the Beneficiaries. There are no clear definitions of a trust, but it is usually best described as leading. A private trust revolves around a settlor, trustee, and beneficiary model. This structure is also reflected in pension funds, but in a different form than private trusts. What is important in this essay is the role of the beneficiaries within the two contexts. There is a clear difference in the role of the beneficiaries.