settlor


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settlor

The person who establishes a trust.

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Accordingly, in the words of the court, "a change in the place of administration accomplished by appointing an out-of-state trustee will effect a change in the law governing administration, if the settlor has not indicated a contrary intent" (slip op.
The invasion provision indicated that the settlor wanted to create something akin to a total discretionary trust.
circumstance that the settlor [is] announced bankrupt, .
Thus, the three most important persons in a trust relationship are the settlor (also called the donor), who creates and funds the trust; the trustee, who holds legal title to the property, though only for the benefit of the beneficiary; and the beneficiary, who holds equitable title to the property and receives the benefits of the trust.
The flexibility of this arrangement lies in the fact that the loan will be repaid at some point in the future, thereby giving the settlor a mode of reclamation.
Where the interaction of a Settlor with the operation of a trust may have a detrimental impact on the discretionary nature of that trust, the use of Protector in a foundation structure provides a more hands on role for those concerned about the potentially unlimited powers of Trustees to control assets.
French CJ does not engage in any lengthy discussion of this particular issue, preferring to concentrate instead upon the examination of the concept of the subjective intention of the settlor as a means of determining validity.
17) In re Terranova, (18) the trust settlor wanted to provide the beneficiaries with income.
the original "owner" of the tissue in question, would be the settlor.
27) Trusts, unlike contracts, cannot be "capricious"; thus, a settlor cannot require the trustee to annihilate valuable property or construct a wistful statue (28)--objectives that the settlor could accomplish through contract law during life.
A settlor of a dynasty trust invariably will want the trust to accumulate all income for a long period of time so that it grows to the maximum amount that is reasonably prudent prior to making distributions.
Private trust companies enable family-controlled structures to be established, offer trustees the benefits of limited liability and perpetual existence which are usually the features of corporate vehicles, and can lessen the tax burden by moving the liability from the settlor to the trust company.