settlor

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settlor

The person who establishes a trust.

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In exercising these attributes, the trustee must prove himself worthy of the trust that the settlor gave him, so that he will have to give to the property right, a use that is in accordance with the purpose for which he received the property.
The trust instrument contained a "duress clause," whereby the settlors were automatically divested of power over the trust's assets in the event of a lawsuit.
40) Settlors frequently couple spendthrift language with discretionary language to provide multiple layers of asset protection.
127) Some settlors reinforce their motives by including express statements of their reasons for conditioning receipt of property on a beneficiary's acquiescence to the trustee's judgment and conduct.
From a Shari'ah perspective there are several ways in which the trust, or foundation, can be created so that it is as compliant as the settlor desires.
The settlor might then allocate his generation-skipping transfer tax exemption to the trust.
The new Bahamas Executive Entity (BEE) which came into force earlier this year, can give the settlor increased control and provide trustees with important input from the family on an on-going basis.
49) All trusts must have at least one settlor, trustee, and beneficiary, although there may be more than one person in each role (for example, there may be multiple settlors, multiple trustees, and multiple beneficiaries or any combination thereof).
Based on Alaska's continued work on its trust law and increase in protections for both settlors and trustees, it is possible to conclude that Alaska is set on its goal of being a global financial trust headquarters.
It does not, according to Professor Lusina Ho of Hong Kong University, amount to a requirement that settlors transfer title in the trust assets to their trustees; the Chinese term for "transfer" is zhuanyang.
LPHI said it understands that the expanded Wells Notice, in addition to the company's knowledge of and disclosures about the accuracy of the estimates of the life expectancies of settlors, also includes allegations about the disclosures regarding and the propriety of certain accounting policies and practices, including revenue recognition, the impairment of life settlements held by the company for investment, and the stated policy for premium advances the company might make on certain client policies.