Settlor
The settlor is the person who 'technically' creates the trust. The settlor does this by gifting a settlement sum to be held on trust by a trustee for the benefit of named beneficiaries.
The settlor should be independent to the trustee and the beneficiaries and can never be a beneficiary of the trust. For this reason, most persons use an indpendent person such as a clerk from the office who drafts the trust.
The settlor is the person who 'technically' creates the trust. The settlor does this by gifting a settlement sum to be held on trust by a trustee for the benefit of named beneficiaries.
The settlor should be independent to the trustee and the beneficiaries and can never be a beneficiary of the trust. For this reason, most persons use an indpendent person such as a clerk from the office who drafts the trust.
Please note that this material is for general information only and is subject to our Legal Disclaimer.
