Editing Trust (law) (section)

===Creation===
Trusts may be created by the expressed intentions of the settlor also known as the founder ([[express trust]]s)<ref>{{cite web |url=https://www.westlaw.com/maf/wlau/app/document?docguid=I896d6d3213d411e18eefa443f89988a0&tocDs=AUNZ_CASES_TOC&isTocNav=true&startChunk=1&endChunk=1 |title=Database Access – UNSW Library }}</ref> or they may be created by operation of law known as implied trusts. An [[implied trust]] is one created by a [[court of equity]] because of acts or situations of the parties. Implied trusts are divided into two categories: resulting and constructive. A [[resulting trust]] is implied by the law to work out the presumed intentions of the parties, but it does not take into consideration their expressed intent. A [[constructive trust]]<ref>{{Cite web|url=http://www6.austlii.edu.au/cgi-bin/viewdoc/au/cases/cth/HCA/1988/16.html|title=Bahr v Nicolay (No 2) [1988] HCA 16; (1988) 164 CLR 604 (15 June 1988)|access-date=23 September 2022|archive-date=23 September 2022|archive-url=https://web.archive.org/web/20220923053001/http://www6.austlii.edu.au/cgi-bin/viewdoc/au/cases/cth/HCA/1988/16.html|url-status=live}}</ref> is a trust implied by law to work out justice between the parties, regardless of their intentions.

Common ways in which a trust is created include:
# a written [[trust instrument]] created by the settlor and signed by both the settlor and the trustees (often referred to as an ''inter vivos'' or living trust);
# an oral declaration or promise;<ref>See for example ''[[T Choithram International SA v Pagarani|T Choithram International SA and others v Pagarani and others]]'' [2001] 2 All ER 492</ref>
# the [[Will (law)|will]] of a decedent, usually called a [[testamentary trust]]; or
# a court order (for example in family proceedings).

In some jurisdictions, certain types of assets may not be the subject of a trust without a written document.<ref>For example, in England, trusts over land must be evidenced in writing under s.56 of the Law of Property Act 1925</ref>