Implied trusts are a unique type of trust because the situation implies the existence of a trust when a formal trust doesn’t exist. Implied trusts result from the trustor’s actions, circumstances or perceived intentions the court of law recognizes these trusts.

One situation where an implied trust may exist is when someone purchases property in the name of someone else. Although the property may not be in a trust per say, the perception is that one exists because the intentions were for one person to purchase the property for the benefit of another person. Use an implied trust argument to:

1. Preserve property or assets for an individual not named in a written trust.

2. Hold trustees accountable for carrying out their fiduciary trust duty.

3. Understand aspects of an existing trust that may be an implied trust should the trust be contested in court.

Action Steps
The best contacts and resources to help you get it done

Get implied trust advice from implied trust experts

Implied trust is a term used to describe a trust that is implied and not written, so there is no format to create implied trust documents. If you find yourself in a situation where there is a dispute over the terms of a trust, an implied trust may exist. Get more information from an estate planning attorney in your area to see if your situation falls under the terms of implied trust.

I recommend: Visit Legalmatch.com or AVVO, key in your state and type "Trusts and Estates" for the area of practice to find a trust and estate expert in your area.

Gather implied trust information by reading cases where an implied trust exists

There are case examples where individuals have an implied trust. Doing your homework ahead of time helps an implied trust expert determine if implied trust applies to your situation.

I recommend: Visit JSTOR: the Virginia Law Review or Church Law Today for more information and case examples about implied trusts.

Work with a trust attorney to determine if an implied trust exists

During life's most difficult moments, getting the right answers before you need them is priceless. Implied trusts can be confusing and ultimately change or challenge the terms of an existing trust. Choosing a qualified trust and estate attorney takes the worry out of making the right decisions for your particular situation.

I recommend: Adorno & Yoss and Akerman Senterfitt are national law firms with large estate planning and trust divisions to meet all your trust-planning needs.

Tips & Tactics

Helpful advice for making the most of this Guide

• •  Because an implied trust depends on circumstance and perceptions rather than documents, appropriate legal council is necessary to get the right result for your case.
• •  Implied trust management becomes a part of regular trust management once the terms of the written trust include the aspects of the implied trust.