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Creating legal documents from the ground up can frequently be a bit daunting.
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The document or statement also contains details of the trust's purpose, its beneficiaries, and how it will be managed by the trustee. The declaration of trust is sometimes referred to as a nominee declaration.
A memorandum of wishes, also called a letter of wishes, is essentially a private document within which a settlor (usually) advises a trustee of the settlor's wishes for the trust fund following the settlor's death.
A simple example would be the situation in which one member of a family advances money to another and asks the second member to hold the money or to invest it for him. A more complicated example of an implied trust would be the situation in which one party provides money to another for the purchase of property.
A memorandum of trust is also a certification, abstract, or certificate of trust. It is a shorter version of the trust certificate. It provides institutions with information they need, but allows you to keep some components confidential. You are not required to provide the names of beneficiaries.
The most common example of when a declaration of trust is used is the situation where an adult son or daughter borrows money for a deposit on a first house from his or her parents. The parents may have a mortgage already, and the terms of that mortgage prevent them from borrowing under another.