upon the trust following
English translation: for the benefit of the following persons and subject to the following conditions
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| 02:03 Mar 20, 2015 |
| English language (monolingual) [PRO] Law/Patents - Law: Contract(s) / Trust | |||||||
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|  Selected response from: Charles Davis Spain Local time: 01:35 | ||||||
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| 4 +2 | for the benefit of the following persons and subject to the following conditions |
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Answers
1 hr confidence: 
peer agreement (net): +2
peer agreement (net): +2| upon the trusts following for the benefit of the following persons and subject to the following conditions Explanation: This is a standard phrase in a will establishing a trust. "Upon the trust(s) following" is followed by details of the terms of the trust, namely, who is or are the beneficiary/ies of the trust and the conditions of the trust (such as how often income will be paid to the be beneficiary/ies, for example). There's an example here which illustrates what it can mean in practice. The clause begins: "MY TRUSTEES shall hold the capital and income of the Trust Fund upon the following trusts:" There follow two paragraphs, (A) and (B), which refer respectively to the testator's wife, if she survives him by at least one month, and to the testator's children. https://books.google.es/books?id=NOVvu0Nu8yUC&pg=PA78&lpg=PA... Another example, showing similarly that "the trusts following" or "the following trusts" (which means the same) refers to the beneficiaries and conditions of the administration of the trust fund by the trustees: https://books.google.es/books?id=taHIAgAAQBAJ&pg=PA258&lpg=P... For a summary of what trusts of this kind are and how they work, see: http://en.wikipedia.org/wiki/Trust_law -------------------------------------------------- Note added at 11 hrs (2015-03-20 13:41:58 GMT) -------------------------------------------------- "Upon" really means "subject to" or "in the form of". It is related to the idea of holding something (such as money) "on trust" (or "in trust"), meaning holding it as a trust, subject to the terms and conditions of a trust. |
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