What is an Express Trust?

Express trusts are created by a settlor, or the person making the trust, taking some intentional action to do so.  In most cases, an express trust involves a settler executing a legally valid trust, with the express intention to do so.  Most express trusts are placed into writing, although oral express trusts have been upheld in a few jurisdictions in some cases.  Express trusts are the opposite of other types of trusts where the settlor takes no intentional act in order to create the trust, or, at least, where the settler’s intent is not clear, such as in the case of a constructive trust or an implied trust. 

Types of Express Trusts and Asset Distribution

The key to a trust being express is always the intent of the settler.  For instance, if the settlor takes a positive action to establish a trust, it is usually considered to be an express trust.  On the other hand, if the trust only arises by operation of law, or specifically not due to some affirmative action on behalf of the settlor, then the trust is an implied trust rather than an express trust.  Common types of express trusts include legally-executed irrevocable trusts and charitable trusts.  The combination of a will and an express trust document effectuates the transfer of legal ownership of certain assets and/or property, or even all of a settlor’s assets, to a trust, which is set up for the benefit of one or more beneficiaries.  The trust document then specifically sets out a plan for the distribution of the settlor’s assets, and typically names a trustee to administer the asset distribution process.

Help with an Express Trust

Express trusts are certainly the most common type of trust, but they are by no means a simplistic means of estate planning.  If you wish to establish any type of trust, you should consult with an attorney before doing so.  An experienced attorney is the key to avoiding problems with your trust document following your death.