SQE1 Trusts – Rules, Exceptions & Key Distinctions Cheat Sheet

A comprehensive 61-page SQE1 Trusts revision guide designed to help you understand, organise and quickly recall the rules most likely to be tested in multiple-choice questions.

The resource is structured to follow the relevant SRA SQE1 Assessment Specification and Functioning Legal Knowledge (FLK) applicable.

The cheat sheet presents Trusts in structured, exam-focused sections highlighting general rules, exceptions, formalities, legal effects, key distinctions and recurring MCQ traps.

Topics covered include:

• The three certainties
• Fixed and discretionary trusts
• Formalities for trusts
• Constitution of trusts
• The every-effort principle and constitution exceptions
• Resulting trusts
• Constructive trusts
• Trusts of the family home
• Beneficial interests
• Appointment, retirement and removal of trustees
• Trustee investment duties
• Delegation
• Maintenance and advancement
• Fiduciary duties
• The no-profit and no-conflict rules
• Breach of trust
• Trustee liability
• Defences and limitation
• Personal and proprietary remedies

The guide places particular emphasis on the distinctions that commonly decide SQE1 questions, particularly validity versus constitution, fixed versus discretionary interests, trustee powers versus duties and breach versus liability.

The resource is designed for use when consolidating Trusts, preparing for mocks or completing final-stage revision before the SQE1 examination.

Please note: This is an independently prepared revision resource and is not affiliated with, approved by or endorsed by the SRA, Kaplan, any university, education provider or SQE training provider. It is intended as a supplementary study aid and should be used alongside the official SQE assessment specification and your main study materials.