The term express trust refers to an agreement which is created in precise terms and typically takes the form of a written document. Express trusts are oftentimes used to preserve wealth.
An express trust is any agreement that is derived from the well-documented wishes of the donor, or settlor. This type of trust is the inverse of an unexpressed trust, which is inferred from the law or a pattern of dealings with other parties. An express trust will always have the following elements:
Any trust that contains the above elements is classified as an express trust. Revocable trusts, irrevocable trusts, discretionary trusts, and charitable trusts are all examples of express trusts.