Settlor

Settlor: A settlor is an individual or entity that establishes a Trust by transferring Assets into the Trust. The settlor determines the terms of the Trust, including how the Assets are to be managed and distributed to the beneficiaries. The settlor can also serve as a Trustee/">Trustee or designate another person to manage the Trust.

Examples:

• A parent creating a Trust for their children’s education, transferring funds to the Trust and specifying that the Money can only be used for educational expenses.
• A business owner setting up a Trust to manage their business Assets after their death, ensuring that the business continues to operate according to their wishes.

Cases:

• In Re: Estate of David R. Burch, the court ruled on the validity of a Trust established by the settlor before their passing, confirming the settlor’s intentions were honored.
• In In re Trust of Elizabeth G. Miller, the court addressed a dispute regarding the settlor’s intent and the interpretation of Trust terms by the appointed Trustee/">Trustee.