What is the Role of a Settlor?
A person who has been named as Settlor in a discretionary trust only has one duty to undertake, he/she makes a gift of the “settled sum”, usually a nominal amount paid by cheque, once the Deed has been signed by both the Trustee to the trust & the Settlor. The role of Settlor can be carried out …
What is a Settlor?
A person who makes a gift (AKA “settlement”) of money under a Deed is the usual way to establish a discretionary trust. The gifter of the money (“settlement”) is called the “Settlor” & the money gift the “settled sum”. The Settlor can be anybody over the age of eighteen & not be a potential beneficiary under the …