Sentence examples for of the settlor from inspiring English sources

Under the amended directive, they would have to register and disclose the identity of the settlor (the person behind the trust), the trustee and beneficiaries.

It is intended that the trust assets will comprise shares in two underlying companies: the holding company of the settlor's Latin American business empire is incorporated as an exempt company in Bermuda; and an IBC [international business corporation] incorporated in [the British Virgin Islands] holding a portfolio of stocks and shares.

This is decided based on the charitable intention of the settlor, something determined on the facts of each individual case.

This is something decided on the facts of each individual case, but some general principles are in place; external evidence is admissible to override any prima facie interpretation that a gift is for non-charitable purposes, as in Re Satterthwaite's Will Trusts, and charitable intention can be found in cases where a non-existent charity is the recipient of the settlor's gift, as in Re Harwood.

A successor trustee however, needs to be appointed in case of the death or incapacitation of the Settlor.

A Testamentary Trust is included in a Will, and only becomes effective upon the death of the Settlor, or person creating the trust.

Subsequent failure cases simply require the redirection of the funds to the nearest possible purpose, since there is no question of allowing the settlor's next of kin to inherit the money.

Irrevocable Living Trusts must be funded with property of which the Settlor is willing to give up ownership upon transfer to the trust.

Capacity refers to the settlor's ability to create a trust in the first place; generally speaking, anyone capable of holding property can create a trust.

This raises different questions, as it is a matter of deciding "has the original charitable gift failed, and, if it has, can the money be applied cy-près or must it go on resulting trust to the settlor's estate"?

An early draft of the directive included a requirement that the settlor's letter of wishes and the trust deed also be made public, but this was dropped during the horse-trading in committee.That concession has done little to pacify the trust industry.