The Settlor

The SETTLOR is the person or persons who initiates the TRUST.

In a standard FAMILY TRUST situation this would normally be the husband and wife, partners or individual who is wanting to protect their assets.

There must be at least one SETTLOR, and it can potentially be anyone, however there are no major advantages of having an unrelated person settle your TRUST.

Within most TRUST DEEDS, there are provisions that link back to the SETTLOR, and these often relate to the POWER OF APPOINTMENT and the ability to add BENEFICIARIES. However, all TRUSTS tend to be worded differently, so the impact on who is chosen as the SETTLOR needs to be assessed against the actual wording of the TRUST DEEDS.