The trust is set up provided that the settlor meets formality requirements, the three certainties, the beneficiary principle and the rules against perpetuity.

Question

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This statement outlines some of the basic requirements for setting up a valid trust. The settlor must follow formalities, such as creating a written document, and ensure that the trust meets the three certainties (intention, subject matter, and objects), the beneficiary principle (which requires that the trust must benefit identifiable individuals or a clearly defined class of beneficiaries), and the rule against perpetuity (which limits the duration of a trust). If these requirements are met, then the trust can be established.

The Trust Is Set Up Provided That the Settlor Meets