Settlor
Noun
A person who creates a trust by transferring their property into it for the benefit of others.
The settlor decided to place their assets in trust for their children's future.
Usage tips
Formal
trust fund, family trust, estate planning
Noun
A person who creates a trust by transferring their property into it for the benefit of others.
The settlor decided to place their assets in trust for their children's future.
Usage tips
Formal
trust fund, family trust, estate planning
Definition 1 of 1
Pro Tip 1/3Legal Intent
Understanding that a settlor’s intentions must be explicitly stated in trust documents.
The settlor's wishes can shape how the trust assets are managed.
Pro Tip 2/3Common Usage
In legal discussions, make sure to clarify that 'settlor' specifically refers to the person creating a trust.
Misunderstanding 'settlor' for general users when it pertains to legal contexts.
Pro Tip 3/3Trust vs. Settlor
Know that 'settlor' is often mistakenly referred to as 'trustee,' but they are different roles.
The trustee manages the assets, while the settlor establishes the trust.
Pro Tip 1/3Legal Intent
Understanding that a settlor’s intentions must be explicitly stated in trust documents.
The settlor's wishes can shape how the trust assets are managed.
Pro Tip 2/3Common Usage
In legal discussions, make sure to clarify that 'settlor' specifically refers to the person creating a trust.
Misunderstanding 'settlor' for general users when it pertains to legal contexts.
Pro Tip 3/3Trust vs. Settlor
Know that 'settlor' is often mistakenly referred to as 'trustee,' but they are different roles.
The trustee manages the assets, while the settlor establishes the trust.
Pro Tip 1/3Legal Intent
Understanding that a settlor’s intentions must be explicitly stated in trust documents.
The settlor's wishes can shape how the trust assets are managed.
Pro Tip 2/3Common Usage
In legal discussions, make sure to clarify that 'settlor' specifically refers to the person creating a trust.
Misunderstanding 'settlor' for general users when it pertains to legal contexts.
Pro Tip 3/3Trust vs. Settlor
Know that 'settlor' is often mistakenly referred to as 'trustee,' but they are different roles.
The trustee manages the assets, while the settlor establishes the trust.
Never forget "Settlor"
Humans forget easily. That's why you should download WordUp: Smart reminders, word games, AI practice, and much more!
WordUp Chrome Extension
As you browse the web instantly look up words you don’t know.
Get Chrome Extension