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settlor

Last modified: Thu Feb 23 16:37:38 2006

Any person who creates an ExpressTrust; confusingly, a Settlement is an express trust, but the term settlor is used for any type of express trust, not only a settlement.

The settlor of an express trust may declare himself to be the Trustee, or may appoint other trustees. In the latter case, he will typically transfer the legal title to the assets of the trust to the trustees. The settlor may make a settlement in favour of himself. That is, he can transfer title to a trustee to be held for his own benefit. In other words, it is possible for the settlor to be the trustee of a trust, or the beneficiary of a trust, or to have no further dealings with the trusts. The only limitation is that the settlor cannot settle a trust on himself for his own sole benefit. The settlor can, however, be the trustee and one of a group of beneficiaries.

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