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HMRC internal manual

Trusts, Settlements and Estates Manual

Legal background to trusts and estates: express trust

An express trust has a clear, expressed intention to create a trust. The trust may be

  • a will trust, or
  • between the living (inter-vivos), or
  • statutory.

Express trusts are distinguishable from

  • implied or presumptive trusts (TSEM6263), and
  • constructive trusts (TSEM6271)