Sentence examples for settlor to from inspiring English sources

Trustees can be guided by a "letter of wishes", which may allow the settlor to control assets even though legally they do not belong to him.

Where there is uncertainty for whatever reason, the trust will fail, although the courts have developed ways around this. Constitution means that for the trust to be valid, the property must have been transferred from the settlor to the trustees.

For example, if Article IV allows the Settlor to modify the trust, you will want to say something like "Pursuant to Article IV of the Robinson Family Trust Dated June 2 , 1998 John Robinson, as Settlor, now makes the following amendments".

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.

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

Certainty of intention means that it must be clear that the settlor or testator wishes to create a trust; this is not dependent on any particular language used, and a trust can be created without the word "trust" being used, or even the settlor knowing he is creating 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"?

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.

By will or by deed of trust, a testator or settlor places property in trust to provide for his family after he is deceased.

The terms of such documents are taken literally; if a particular organisation or purpose is given, the settlor's intention is considered to be no wider or narrower than this.

An irrevocable living trust is commonly set up in order to shelter a Settlor's property from his or her creditors or help him or her qualify for Medicaid without losing a home.