ABSTRACT
The trustee’s role in the trust may be explained simply in the now familiar diagram in Figure 8.1.
Figure 8.1 shows the most often used way of setting up an express trust, which is where the settlor transfers legal ownership in property to a recipient to hold on trust for the beneficiary. As was seen in Chapter 7, however, it is also equally as satisfactory to create an express trust by the settlor declaring themselves to be the trustee and holding the trust property on trust for the beneficiary. In both cases, the beneficiary enjoys an equitable interest in the trust property.
